Frequently asked questions
What is a Financial Professional & Why do you need one?
A financial professional provides expert guidance on managing your finances, including investments, retirement planning, tax strategies, estate planning, and insurance. They create personalized financial plans to help you achieve your goals.
Why You Need One:
Expertise: Stay updated with market trends and tax laws.
Personalized Planning: Tailored financial strategies for your unique goals.
Objective Advice: Unbiased guidance to avoid emotional decisions.
Time-Saving: Handles complex financial details for you.
Comprehensive Support: Holistic advice covering all aspects of your financial life.
Working with a financial professional ensures you have a trusted advisor to help you achieve financial security and success.
What do we do?
At Goldeneye Financial, we aim to align your financial plan with your unique values and goals. We offer personalized advice on retirement, tax strategies, investments, cash management, estate planning, and insurance. Whether you're buying a home, deciding on a car, or lending money to your children, we're here to help you make informed financial decisions and achieve financial security.
Financial Planning
Our process at Goldeneye:
Initial Meeting: We begin by developing a profile of your investment objectives, risk tolerance, and time horizon. Basically doing a doctor checkup on your finances. This helps us understand your unique financial landscape.
Create Customized Financial Plan: After thoroughly analyzing your financial data, we compare your current situation to your needs and goals. Based on this analysis, we create a tailored financial plan designed to meet your and your family's individual requirements.
Develop Investment Strategy: We then develop a personalized investment strategy that considers the risks involved. Our goal is to maximize returns through a diversified approach, taking into account any limitations.
Implement Investment Plan: The financial plan is then implemented according to the agreed-upon strategy. We work closely with you to ensure everything is executed as outlined.
Monitor Execution: We continually monitor the execution of your financial plan. Any changes in financial inflows or risk levels are tracked, and necessary adjustments are made to keep your plan on track.
Review Results: In regular client meetings, we review the progress of your plan. We make any necessary changes to your investments, considering changes in your life and financial goals.
Will & Trust / Estate Planning
Benefits of Will, Trust, and Estate Planning
Will, trust, and estate planning offer several critical benefits. They ensure your assets are distributed according to your wishes, provide financial security for your loved ones, and help avoid the lengthy and costly probate process. These plans can also minimize estate taxes, protect your estate from creditors, and ensure your healthcare and financial decisions are honored if you become incapacitated. Overall, they offer peace of mind by securing your legacy and safeguarding your family's future.
What if I die before having any of these?
Without an estate plan, the state determines how your assets are distributed among your family members or "heirs at law." By creating an estate plan, you maintain control over these critical decisions, ensuring your assets are distributed according to your wishes.
What's inside a Will & Trust?
A living will and trust are essential components of estate planning, each serving distinct purposes:
Living Will:
Medical Directives: Specifies your wishes regarding medical treatments and life-sustaining measures if you become incapacitated.
Healthcare Proxy: Designates a person to make medical decisions on your behalf if you're unable to do so.
End-of-Life Care: Outlines your preferences for end-of-life care, including pain management, resuscitation, and organ donation.
Trust:
Asset Distribution: Details how your assets will be distributed to beneficiaries, bypassing the probate process.
Trustee Appointment: Names a trustee to manage the trust and ensure your wishes are carried out.
Terms and Conditions: Sets specific terms for asset distribution, such as age or milestones beneficiaries must reach to receive their inheritance.
Asset Protection: Offers protection from creditors and potential legal challenges, preserving your estate for your beneficiaries.
Revocable vs. Irrevocable: Indicates whether the trust can be altered (revocable) or is permanent (irrevocable).
Together, a living will and trust provide comprehensive control over your medical care and the distribution of your assets, ensuring your wishes are respected and your loved ones are protected.
Life Insurance Planning
What & Why Life Insurance?
Life insurance is a contract between you and an insurance company, where you pay regular premiums, and in return, the company provides a lump-sum payment, known as the death benefit, to your designated beneficiaries upon your passing. There are different types of life insurance policies, including term life insurance, which covers you for a specific period, and permanent life insurance, which provides lifelong coverage and can accumulate cash value over time.
Why You Need It:
Financial Security for Loved Ones: Life insurance ensures that your family and dependents are financially protected in the event of your death. It can cover living expenses, mortgage payments, and future costs like college tuition, helping to maintain their standard of living.
Debt Coverage: The death benefit can be used to pay off outstanding debts, such as a mortgage, car loans, or credit card debt, preventing your loved ones from being burdened with these financial obligations.
Income Replacement: Life insurance provides a source of income replacement, ensuring that your family can manage financially without your earnings.
Estate Planning: Life insurance can be an essential tool in estate planning, helping to cover estate taxes and ensuring that your assets are distributed according to your wishes.
Business Protection: If you own a business, life insurance can help protect the company by covering business debts, funding a buy-sell agreement, or ensuring the continuity of the business.
In summary, life insurance provides peace of mind by ensuring that your loved ones are financially secure and protected, even when you're no longer there to provide for them.
