Commit to a
Schedule a free conversation about standalone financial planning
Sometimes, a long-term commitment feels like the only option available when looking for advice to help you achieve your retirement goals.
A standalone planning engagement gets you going down the right path without committing to a full-time guide.
The process of building a retirement income strategy involves determining how to best combine retirement income tools to optimize the balance between meeting your retirement goals and protecting those goals from the unique risks of retirement.
While most financial advisory firms prefer to sell you on a long-term engagement, McLean designed a standalone planning engagement that gives you access to the expertise of our advisors without the requirement for a long-term commitment.
The engagement covers the most common retirement planning topics and provides recommendations to keep you on track towards meeting your goals.
What is Included in a Standalone Plan?
A Reliable Income Analysis
An analysis of your spending patterns throughout retirement and your ability to fund your goals. This includes optimizing current resources and introducing new strategies when appropriate. The resulting analysis identifies any existing income gaps and recommends how to best address these by providing specific strategy and implementation recommendations.
The Reliable Income Analysis Includes:
Spending Needs Analysis
A review of your spending needs, with recommendations for how to fund them. Includes recommendations for adjusting your funding sources to better align with your goals.
An analysis of your planned income sources throughout retirement and how they can be optimized to fund expected expenses. We will identify your income floor and whether additional income is warranted based on your circumstances. If applicable, specific implementation recommendations will be provided.
Social Security Optimization Analysis
A review of potential claiming strategies available to optimize your Social Security income stream.
A Tool to Learn Your Retirement Income Preferences
Take the RISA® and learn your retirement income preferences.
RISA® stands for Retirement Income Style Awareness.
Think of it as a counseling session between you and your retirement income plan. After about 15 minutes of your time, you get a clear set of results defining how you would like to source your retirement income and a planning strategy that fits your preferences.
There are many ways to construct a successful retirement income plan. There is no one-size-fits-all approach.
The best tools for your plan largely depend on your retirement income style preferences. The RISA® serves to evaluate your preferences, aligning them with specific implementation tools and strategies that align with your "profile."
Think of it like a personality test for your retirement income preferences.
The engagement includes an analysis of your current investment portfolio and overall strategy.
Your portfolio expenses, investment diversification, style, and overall asset allocation are reviewed. McLean's investment recommendations are high-level and will not include specific product recommendations.
A Tax Planning
McLean will review your prior year's income tax return to identify tax planning opportunities.
The engagement also includes an analysis of your retirement income plan with recommendations for tax-efficient and tax-saving strategies such as asset location changes or Roth conversions where appropriate.
A tax projection will be provided that illustrates the potential impact of implementing tax planning recommendations.
McLean will review existing life insurance, annuity contracts, disability policies, and long-term care policies, recommending changes where appropriate. As part of your goals-based financial plan, McLean will evaluate your coverage needs and analyze whether insurance products can increase your plan's probability of success, recommending specific products where appropriate. Note that there is no obligation to implement any insurance recommendations with McLean.
And Any Other
As applicable, McLean will incorporate goals such as debt repayment strategies, impact of housing and domestic relocation, reverse mortgages, as well as gifting and legacy considerations.
All Culminating In...
A Presentation of Goals-Based Financial Plan and Recommendations
The goals-based financial plan uses a Monte Carlo analysis to illustrate the probability of success in meeting your goals. This analysis incorporates into your plan the effects of variable inputs such as inflation, sequence of returns risk (market risk), variable spending amounts/patterns, and other factors specific to you. In addition, we will present recommendations for any retirement income solutions as a result of the reliable income analysis.
If applicable, the following services will be included:
A review of your current pension(s) and how to best utilize the income within your retirement income plan to meet your goals. Includes an analysis of available distribution options with implementation recommendations based on your goals and circumstances.
Includes a review of expected education expenses and recommendations for how to fund them.
Medicare Election Consulting
For individuals age 63+, the engagement includes a discussion with McLean’s strategic partner to determine recommendations for Medicare elections based on your situation.
Charitable Planning or Gifting Strategies
As desired, McLean will incorporate any charitable giving or gifting intentions into your plan to illustrate the impact. If appropriate, we will provide recommendations for strategies to achieve your goals.
Our standalone plan has a
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McLean Asset Management Corporation (“MAMC”) is a SEC-registered investment adviser. MAMC only transacts business in states where it is properly registered or excluded or exempt from registration requirements. The information provided herein is for educational purposes only and should not be construed as investment advice and does not intend to make an offer to sell or a solicitation of an offer to buy or sell securities. It is not intended to provide specific legal, tax, or other professional advice. Investments involve risk and unless otherwise stated, are not guaranteed. Although Information has been obtained from sources deemed to be reliable, we make no guarantee as to the accuracy or completeness of this data. MAMC shall not be liable for any errors or omissions, or for any actions taken in reliance thereon. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.