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The Secrets of Successful Financial Planning: Inside Tips from an Expert
Take charge of your finances with little-known advice from a financial expert.
**Catholic Writers Guild Seal of Approval**

There are six interrelated segments to a complete financial plan: Cash & Budget Planning, Insurance & Risk Management, Tax Management, Retirement Planning, Investment Planning, and Estate Planning. What aspects of the financial plan require sophisticated planning by a professional, and what can savvy, well-educated consumers handle themselves? The Secrets of Successful Financial Planning empowers readers to take charge of their financial present and future, regardless of where they are financially, by presenting technical jargon in a way that’s easy to understand. Here is sage advice and insider information known to the very few:
  • Written for DIYers and those needing to select or understand advisors
  • Useful for new savers up to mid-retirees
  • 30 dramatic true stores of client triumphs and tragedies—no dull case studies
  • Unbiased perspective is neither insurance nor investment skewed, and provides industry secrets
  • Access via author website to customizable spreadsheets and more
Here is sage advice and insider information known to the very few. For example, consumers buy more long-term care insurance than they need because their advisors are forbidden to show them alternative or supplemental strategies. They buy one large life policy when best-practice analysis usually would find need for two smaller, distinctive types. They get recommendations for annuity, insurance, and investment replacement, but how can they be certain the answers they get are unbiased? Author Dan Gallagher provides advice and counsel that will help readers set the stage for financial security for themselves and their families. He shares what you can do yourself and when you need a pro’s help.
 
1125675094
The Secrets of Successful Financial Planning: Inside Tips from an Expert
Take charge of your finances with little-known advice from a financial expert.
**Catholic Writers Guild Seal of Approval**

There are six interrelated segments to a complete financial plan: Cash & Budget Planning, Insurance & Risk Management, Tax Management, Retirement Planning, Investment Planning, and Estate Planning. What aspects of the financial plan require sophisticated planning by a professional, and what can savvy, well-educated consumers handle themselves? The Secrets of Successful Financial Planning empowers readers to take charge of their financial present and future, regardless of where they are financially, by presenting technical jargon in a way that’s easy to understand. Here is sage advice and insider information known to the very few:
  • Written for DIYers and those needing to select or understand advisors
  • Useful for new savers up to mid-retirees
  • 30 dramatic true stores of client triumphs and tragedies—no dull case studies
  • Unbiased perspective is neither insurance nor investment skewed, and provides industry secrets
  • Access via author website to customizable spreadsheets and more
Here is sage advice and insider information known to the very few. For example, consumers buy more long-term care insurance than they need because their advisors are forbidden to show them alternative or supplemental strategies. They buy one large life policy when best-practice analysis usually would find need for two smaller, distinctive types. They get recommendations for annuity, insurance, and investment replacement, but how can they be certain the answers they get are unbiased? Author Dan Gallagher provides advice and counsel that will help readers set the stage for financial security for themselves and their families. He shares what you can do yourself and when you need a pro’s help.
 
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The Secrets of Successful Financial Planning: Inside Tips from an Expert

The Secrets of Successful Financial Planning: Inside Tips from an Expert

by Dan Gallagher
The Secrets of Successful Financial Planning: Inside Tips from an Expert
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The Secrets of Successful Financial Planning: Inside Tips from an Expert

The Secrets of Successful Financial Planning: Inside Tips from an Expert

by Dan Gallagher

Overview

Take charge of your finances with little-known advice from a financial expert.
**Catholic Writers Guild Seal of Approval**

There are six interrelated segments to a complete financial plan: Cash & Budget Planning, Insurance & Risk Management, Tax Management, Retirement Planning, Investment Planning, and Estate Planning. What aspects of the financial plan require sophisticated planning by a professional, and what can savvy, well-educated consumers handle themselves? The Secrets of Successful Financial Planning empowers readers to take charge of their financial present and future, regardless of where they are financially, by presenting technical jargon in a way that’s easy to understand. Here is sage advice and insider information known to the very few:
  • Written for DIYers and those needing to select or understand advisors
  • Useful for new savers up to mid-retirees
  • 30 dramatic true stores of client triumphs and tragedies—no dull case studies
  • Unbiased perspective is neither insurance nor investment skewed, and provides industry secrets
  • Access via author website to customizable spreadsheets and more
Here is sage advice and insider information known to the very few. For example, consumers buy more long-term care insurance than they need because their advisors are forbidden to show them alternative or supplemental strategies. They buy one large life policy when best-practice analysis usually would find need for two smaller, distinctive types. They get recommendations for annuity, insurance, and investment replacement, but how can they be certain the answers they get are unbiased? Author Dan Gallagher provides advice and counsel that will help readers set the stage for financial security for themselves and their families. He shares what you can do yourself and when you need a pro’s help.
 

Product Details

ISBN-13: 9781510725317
Publisher: Skyhorse
Publication date: 09/25/2018
Sold by: SIMON & SCHUSTER
Format: eBook
Pages: 304
File size: 3 MB

About the Author

Dan Gallagher, MBA, CFP, has been a financial planner for over thirty years, and has provided retirement building seminars and written extensively on the topic for the trade and the general public. He lives in Charlotte, NC.

Table of Contents

Introduction vii

How This Book Is Organized ix

The Six Components of Personal Financial Planning ix

What's New xi

Supplemental Resources xi

Chapter 1 Advice, Advisors, and what's New 1

Regulation 8

Fiduciaries 9

Firms and Compliance Departments 13

Fee-Only Equals Unbiased? 16

Types of Professionals 19

Credentials, Real and Imagined 35

Methodology, the "Big Secret" 42

Chapter 2 Financial Position, Budget, and Cash Management 46

Prudence and Priorities 46

Three-Tiered Cash Reserves 48

Budget Tracking: Target vs Actual 56

Debt Strategy 67

Chapter 3 Risk Management (Protection Planning) 75

Disability Insurance (DI) 76

Health Coverages 81

Life Insurance 84

Long-Term Care Policies 103

Annuities 107

Liability Policies 114

Security Cautions 114

Carrier Claims Reliability 116

Chapter 4 Accumulation Planning 119

Invest in Yourself 119

College Funding 122

Asset Allocation and Money Management 124

Investment Products 134

Real Estate 144

Chapter 5 Income Tax Management 155

The "Three Tax Categories" Concept 155

A Long List of Tax-Controlled Growth and Tax Minimization Strategies 162

Chapter 8 Retirement Planning 191

The Order of Returns and Losses 191

Rollover Decisions and Income Planning 197

Social Security Decision Support 216

Medicare 236

Long-Term Care 238

Lifestyle, Attitudes, and Mindset in Retirement 245

Chapter 7 Estate Planning 250

Titling Property 255

Special Real Estate Considerations 259

Stretch IRAs and Beneficiary Forms 262

Trusts and Their Uses 266

Non-trust Strategies for Minimizing Estate Shrinkage 273

Conclusion 282

References 284

Resources 284

Index 285

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