Small, Niche-Focused Firm
I designed my firm to remain independent, small, and focused. This allows me to deliver premium service to the right clients.
My Process
Educating, Empowering, and Guiding
My Process
Educating, Empowering, and Guiding
My mission is to EDUCATE, EMPOWER, and GUIDE you on your journey to LIFE and FINANCIAL FREEDOM.
My approach is to keep things as simple as possible, but not simpler. I only add complexity if it adds value.
Simplicity is the ultimate sophistication. (Leonardo da Vinci)
What’s Unique About My Process?
Unbiased Advice
As a fee-only & flat-fee financial advisor, I’m compensated solely by my Clients. No fee model is perfect, but I believe this approach drastically minimizes conflicts of interest and aligns my interests with those of my Clients, which is to see them succeed.
Wealth-Building
While most advisors merely manage the wealth their Clients give them, I actively help my Clients build wealth through my stock and real estate investment strategies.
I’m A Real Estate Investor Too!
As a financial planner and real estate investor with additional training in financial analysis and underwriting properties, I can provide my Clients with a personalized real estate investment strategy and the confidence to invest.
Real Estate Planning & Coaching
I offer one-on-one real estate coaching to help investors confidently align their RE investments with their financial goals. This is the type of coaching I wished for when I began investing!
What Is Comprehensive Financial Planning?
My approach to comprehensive financial planning helps you clarify your core values, mission in life, and vision for the future.
Then, we analyze your finances and plan for the most important things to you.
Most Clients plan to stop working long before age 60, so I utilize specially tailored savings and investment strategies than those traditionally used by financial advisors who work with a more general population.
The biggest differences are the investment strategies, withdrawal rate assumptions, the need for bridge funds, and how to incorporate real estate investing as an income replacement strategy. I also view the time between early retirement and when you begin taking Social Security as a huge tax planning window of opportunity for Roth conversions, real estate professional status, and other tax planning moves.
The process is not static, however. Your financial plan will be adjusted accordingly as your life and goals evolve, keeping you on track.
Think of my financial planning process as if you’re taking a road trip, and every so often, Google Maps updates you with a faster route. You’ll want to pay attention and be ready to adjust the course so long as it makes sense and you’re still going where you want to end up!
This flexibility and readiness to adapt is what I believe makes the ongoing financial planning relationship so valuable.
My Comprehensive Plans Include:
Life Planning & Goals
The best financial plan is centered around the life you’re trying to create.
My financial planning process aims to help you create your ideal life and live it out now, based on your life’s mission, core values, and dreams without sacrificing your family, time, or health.
I will help Clients identify financial goals and develop a plan to reach them. We will identify what you plan to accomplish, what resources you will need to make it happen, how much time you will need to reach the goal, and how much you should budget for your goal.
Cash Flow and Debt Management
We will review your income and expenses to determine your current surplus or deficit and advise on prioritizing how any surplus should be used or how to reduce expenses if they exceed your income. Advice may also be provided on which debts to pay off first based on factors such as the debt’s interest rate and any income tax ramifications. We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a review of accounts (such as money market funds) for such reserves, plus strategies to save desired amounts.
Risk Management
A risk management review includes an analysis of your exposure to major risks that could have a significant adverse impact on your financial picture, such as premature death, disability, property and casualty losses, or the need for long‐term care planning. Advice may be provided on ways to minimize such risks and weigh the costs of purchasing insurance versus the benefits of doing so, as well as the potential cost of not purchasing insurance (“self‐insuring”).
Insurance Planning
As a fee-only financial planner, I do NOT sell any insurance products.
My goal is to provide you with as unbiased and objective advice regarding your risk profile and insurance needs as possible.
We’ll review your existing policies to ensure proper coverage for life, health, disability, long-term care, liability, home, and automobile and I’ll make coverage recommendations.
I generally work with 2-3 independent, non-captive insurance companies to help you shop out the best rates for your insurance needs.
Estate Planning
This usually includes an analysis of your exposure to estate taxes and your current estate plan, which may include whether you have a will, powers of attorney, trusts, and other related documents. Our advice also typically includes ways to minimize or avoid future estate taxes by implementing appropriate estate planning strategies, such as using applicable trusts. We always recommend consulting with a qualified attorney when you initiate, update, or complete estate planning activities. We may provide you with contact information for attorneys specializing in estate planning when you wish to hire an attorney. With your approval or request, we will participate in meetings or phone calls between you and your attorney.
Tax Planning Strategies
Tax planning isn’t the first thing we do, but it is one of the most important things we do because nearly every movement of money has a tax implication today or at some point in the future.
Tax planning involves analyzing your finances and making strategic decisions that are within the law to reduce the amount you pay in taxes. It often requires careful consideration of tax laws, regulations, and deadlines and understanding how different transactions and financial decisions can impact tax liability.
Advice may include ways to minimize current and future income taxes as a part of your overall financial planning picture. For example, we may make recommendations on which type of account(s) or specific investments should be owned based in part on their “tax efficiency,” with the consideration that there is always a possibility of future changes to federal, state, or local tax laws and rates that may impact your situation.
We recommend that you consult with a qualified tax professional before initiating any tax planning strategy, and we may provide you with contact information for accountants or attorneys who specialize in this area if you wish to hire someone for such purposes. With your approval, we will participate in meetings or phone calls between you and your tax professional.
What I Don’t Do
Tax planning will always be conducted within the legal boundaries set by the Internal Revenue Code (IRC). Engaging in tax evasion practices is illegal and can result in severe penalties. Cornerstone Financial Planning LLC will not recommend nor support any illegal practices or attempts to create a loophole where none exists.
Tax planning provided by Cornerstone Financial Planning LLC is not to be considered tax advice as defined in IRC Section 7525(a)(3)(B). You should seek clarification on any proactive planning we do with a licensed tax professional such as a Certified Public Accountant (CPA) or Enrolled Agent (EA).
Cornerstone Financial Planning LLC does not provide tax preparation or filing.
Retirement Planning
Our retirement planning services typically include projections of your likelihood of achieving your financial goals, focusing on financial independence as the primary objective. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections, by adjusting certain variables (e.g., working longer, saving more, spending less, taking more risk with investments).
Retirement planning for clients who own real estate directly typically incorporates a Real Estate Retirement Projection, which incorporates their goals, possible exit strategies, and contingency planning for their real property portfolio.
If you are near retirement or already retired, advice may be given on appropriate distribution strategies to minimize the likelihood of running out of money or having to alter spending during your retirement years adversely.
Investment Analysis and Planning
We will help you develop an investment strategy to meet your life and financial goals based on your current financial position, available cash flow, time horizon, risk tolerance, risk capacity, and desired investment growth objectives. We do this by reviewing your current investments and investment history, providing you with information and recommendations on appropriate investment vehicles and strategies, reviewing employee stock options, and assisting you in establishing your investment account at a selected broker/dealer or custodian. The strategies and types of investments we may recommend are further discussed in Item 8 of my ADV. (See the bottom of this page for a link to my ADV.)
Real Estate Planning and Coaching
For those clients who are real estate investors or are considering becoming investors, CFiP provides generalized real estate investment education based on industry standards and commonly accepted best practices, a review of the risks involved in real estate investing in the context of your overall financial picture, and recommendations for an asset allocation strategy which considers your real estate investments. As part of this service, CFiP integrates your current or potential real estate investments into your broader financial plan, assessing their influence on your liquidity, debt management, risk mitigation, retirement planning, and estate strategy. Our approach may involve creating forecasts and simulating various scenarios to understand how real estate investment decisions might impact your comprehensive financial strategy. Additionally, CFiP performs financial analyses of your real estate investments to gauge their performance and help you optimize your decision-making regarding the role of property in your overall investment portfolio. CFiP can also provide general recommendations and industry-standard practices for effective real estate financial management. These recommendations may encompass cash reserves, insurance planning, and property management strategies.
CFiP may provide generalized business planning and education regarding your real estate investments; however, CFiP does not provide tax or legal advice. As such, CFiP may refer Clients to tax and/or legal professionals when such advice is required.
CFiP does not engage in real estate brokerage or property sales. Nor does CFiP execute real estate property assessments, appraisals, or any other evaluation of the current ownership status, lending, liens, or the condition of any real estate property. CFiP does not make specific recommendations regarding purchasing, selling, or managing real estate investment properties. All buy-sell decisions are made solely by the Client.
Business Planning
We provide consulting services for Clients who currently operate their own business, are considering starting a business, or are planning to exit their current business. Under this type of engagement, we work with you to assess your current situation, identify your objectives, and develop a plan to achieve your goals.
College Savings
Includes projecting the amount needed to achieve college or other post-secondary education funding goals, along with advice on ways to save the desired amount. Recommendations regarding savings strategies are included, and if needed, we will review your financial picture as it relates to eligibility for financial aid or the best way to contribute to grandchildren (if appropriate).
Charitable Giving
Charitable giving is a subcategory of tax planning. It’s one of the most rewarding and humbling benefits of being financially stable. You’re truly free when you’re able to give without expecting to be repaid. We’ll strategically incorporate your charitable desires into your overall financial plan.
I believe that we’re most fulfilled when we’re giving back.
As a Christian, I believe that giving in ways that make a tangible difference in people’s lives is the best way to love our neighbor as ourselves.
I encourage you to join me in making a difference in people’s lives, regardless of where you are on the journey, and to share in the blessing of being a blessing to those in need!
We’ll meet your charitable goals while maximizing the associated tax benefits.
Employee Benefits Optimization
We will provide a review and analysis as to whether you, as an employee, are taking the maximum advantage possible of your employee benefits. If you are a business owner, we will consider and/or recommend the various benefit programs that can be structured to meet business and personal retirement goals.
My Planning Process
Intro Call
Assessing a mutual fit
This call helps us figure out if my financial planning services are right for you and if your needs match my expertise. If we’re a good match, we’ll schedule a Strategy Session to go a little deeper before signing on.
If we’re not the right fit, I can suggest other financial planners who might be a better fit.
Strategy Meeting
Decide on Becoming a Client
During this meeting, we’ll dive a little deeper into your your current situation and financial planning needs. I’ll provide you with a cost proposal based on your complexity and desired services. We’ll discuss what it looks like to sign on and begin working together.
Strategy Meeting
Become a Client!
Sign the Agreement
We’ll mutually agree on and sign the aggreement laying out the scope of services to be included in your financial planning aggreement.
Onboarding RightCapital Meeting
1-2 Hours
Once you’ve accepted my invitation to create your RightCapital account, we’ll meet to go through it together. I’ll familiarize you on how to update some things yourself and where your secure file vault is for uploading documents. We’ll update your information, and ensure that everything is as accurate as possible before we begin the planning process.
Onboarding RightCapital Meeting
Cornerstone Mission Meeting
1-2 hours
This meeting is focused on getting to the core of your life’s mission, values, & goals. These are critical for me to understand because they form the lens through which all of my financial planning recommendations will be made.
This is how you align your money with your life and become intentional in creating the life you want to live.
Financial Planning Meetings
2-3 Meetings for ~1 Hour
We’ll meet at least a few times to address your most pressing matters and those that I prefer to spend more time with Clients on. The goal is to get a clear understanding of what you want and need and for me to ensure that you fully understand the “why” behind my recommendations.
Financial Planning Meetings
Analysis & Development
Me having fun in the background!
Between meetings, I’ll be working on organizing and analyzing your financial information to find opportunities to optimize your current financial position. These analyses are shared with you during our meetings and guide my recommendations.
Plan Presentation
1-2 hours
We’ll review your entire Comprehensive Financial Plan and all the progress that you’ve made.
We’ll also lay out what you need to continue doing to be successful.
Plan Presentation
Ongoing Planning & Support
Semiannual Meetings + Support
For my Ongoing Clients and real estate investors, I provide on-demand support via phone, email, and Zoom meetings. We’re both responsible for monitoring your plan, but I’ll provide you with the guidance needed to make adjustments as your life or the economic environment changes. This is how we fine-tune and adjust your plan as you continue your journey to ensure you stay on track and achieve your goals.
We’ll formally meet at least 1-2 times per year but you are free to reach out or schedule a meeting any time. That’s the beauty of a small, independent firm who knows its Clients!
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