Financial Planning Guide

Meeting your needs involves bringing your goals into view. Simpson Capital uses a framework to develop these goals. The SCM Planning Guide describes the plan parts.

The purpose of  planning is to help you and your family achieve your life goals through proper management of your finances. This process results allow you to see where you stand  and determine what steps are needed to reach your goals.

The benefit of planning provides direction to decisions and gives insight into how each decision affects other areas of your life. Viewing each decision’s impact on the whole allows you to consider the decision’s effects on your short- and long-term goals.

Financial Planning Guide

SCM breaks down the parts of planning into manageable pieces for greater understanding. Below is a summary of the  Planning Guide. Visit the section pages for more information:

Financial Statements and Recordkeeping

These statements are important tools in checking your status and should be prepared and revised regularly. Without them, it’s tough to deal with planning problems. These statements include changes of financial conditions (balance sheets), changes in net worth (income statements) and budgets. Good practice includes maintaining an effective recordkeeping system. Visit our Financial Statements and Recordkeeping to learn more detail.

Insurance Planning

Proper coverage is a start for any wealth-building program, since a gap could risk assets and future earnings. Tings to consider include coverage gaps, limits, dependents and cost.  Areas of coverage include life, health, disability, homeowners/renters, auto, extended personal and professional. Visit our Insurance Planning page to see what types of may be right.

Credit Management

Borrowing is a double-edged sword.  On one hand, you might rely on borrowing  to meet your planning goals. On the other hand, credit has the risk for over reach, which can affect all clients. Easy credit has hurt people who may have to spend many years getting back to a firmer footing. Visit our Credit Management page to see how it affects you.

Capital Accumulation

Capital accumulation is the focal point of planning. Funds earned during your working years gives you a source of retirement income. Estate planning can help you maximize wealth left to your heirs in accordance with your wishes. Real estate has provided excellent, long-term returns, well in excess of inflation. but real estate carries risks. Visit our Capital Accumulation page to learn about it.

Tax Planning

The goal is to pay the lowest tax along with your planning goals. Taxes affect almost every area of planning from setting goals to estate planning. SCM not only considers the tax effect of a proposed action but plans a sound plan to address your taxes. Visit our Tax Planning page to see how to improve your income.

Retirement Planning

Achieving a smooth retirement is the ultimate goal of planning.  Elements include picking a retirement life-style, gauging expenses, timing aspects and planning the retirement period. Parts include Social Security, pension plans, IRAs and retirement plans. Visit our Retirement Planning page to help plan for your golden years.

Estate Planning

Despite the merits of early planning, most people are reluctant to deal with the subject due to emotional issues coming to light. Its neglect leads to needless expense, confusion and delay. When properly done, planning ensures the transfer of your assets to your heirs, preserves assets during your lifetime and lessens the confusion which often follows death. Visit our Estate Planning page to to improve your plan.

SCM provides head coaching of your planning with heavy emphasis on investments.  SCM is not an expert in most of these areas and relies on outside resources when needed. If you are a professional and wish to contribute, please feel free to contact us.This Planning Guide was adapted from Mr. Simpson’s lecture notes used for classes taught at UCLA’s Anderson School.

Visit our Guidelines page to see how this Planning Guide is integrated into SCM’s process or visit Open An Account to have SCM help manage your future.