Taxes

• Tax Planning
  Not all topics may be covered in detail, this depends on the unique client circumstances. The Full Review outlines the client's financial position as well as detailed comments, suggestions and specific recommendations. The result is a "road map" to implement the suggestions and recommendations. This service engagement may take multiple meetings.
• Estate Taxes
• Tax Services
• Income Tax

Investment

• Investment Management
  On-Going services provides a continuing relationship. These services include all pertinent financial planning as well as on-going investment management. Clients that utilize our On-Going services benefit from us managing their portfolio and ‘’doing the work”. Milne Financial Planning assists in implementing the recommendations and monitoring that clients remain on track. Included in our Ongoing service is phone and email support during the year.

Accounting

• Accounting Services
• Payroll Services

Planning

• Financial Planning
  Our Ongoing service has a minimum annual fee of $5,000. Fees consist of an Ongoing Financial Planning fee plus an AUM (Assets Under Management) percentage. Fees are determined by the complexity of each client's unique financial situation. If a client engages in one of our One time services before becoming an Ongoing client, a discount is available on the first-year's Ongoing fee.
• Retirement Planning
  Background: Clients who call for an appointment often have two concerns; whether they have enough money (retirement planning and spending projections) and whether their portfolio is invested properly. Though each client and each meeting are different, similar issues are often addressed. Jack called and discussed his plans to retire in the next couple of years. He wanted to know if his portfolio was sufficient to support his lifestyle in retirement. There are many variables and assumptions that are used in developing a retirement projection, but the most important client variable is the annual spending. It is difficult to know what level of spending will be required in retirement. I have had retired clients tell me they spend more now that they are retired then they did before retirement. In Jack’s case, the retirement projections indicated a spending level that was significantly less than Jack had hoped.
• Long Term Care
• Asset Management
• College Funding
• Reverse Mortgages
  The Take Away: There are many options when spending cannot be supported, including, but not limited to: working longer, working part-time, spending less, downsizing the house, taking out a reverse mortgage or some combination of strategies. A planner often deals with aligning a client’s retirement expectations with the financial reality. Since Jack was two years away from retiring, there was still some time to “align” his retirement thinking with the reality of the financial projections. However, I know Jack left the meeting disappointed and discouraged. I was confident that Jack will be fine in the long run, but had he called 5 or 10 years earlier, his current dreams and goals may have been much closer to reality.