I have been performing very thorough and careful Financial Inspections now for over six years and we always find dangerous mistakes or missed opportunities.
Some of what I find are hidden fees, excessive costs, incorrect beneficiaries, the wrong strategy for a given purpose, missed tax deductions, estate plans that are not funded, incorrect names on documents after divorce, unnecessary risk, low interest rate guarantees, inferior financial products, high interest rates, incorrect debt management, wealth transfers and tons of missed tax deductions are just a few of the issues I find consistently. Remember, your plan was set up by multiple people who do not speak to each other and no one is really maintaining the plan as things change you the world, your income and your life.
Mistakes and missed opportunities are so costly. Here’s what I will do at no charge to you:
- Mortgage Plan Inspection-I will review all current mortgages. In addition to the normal rate, fees, term, balance, payment etc. I will also be addressing how well your mortgage fits with your Mortgage Planning Goals. You may be surprised what I find.
- Estate Plan Inspection-If any area is consistently troubled it’s the Estate Plan. My team and I will review all current trust documents and wills to make sure that everything you HOPE happens when you pass away actually does happen. Most estates are a total mess where the trust is not even funded (rendering it useless), incorrect beneficiaries, assets that are not part of the trust, out of date language for today’s laws etc.
- Retirement Plan Inspection-I will review all investment statements looking for actual fees and actual returns. Over 80 years the Dow Jones has only returned a real rate of 4.33%. If your advisor has showed you that using a diversified portfolio of stocks, bonds and mutual funds will allow you to earn 8-12% he outright lied. Maybe not on purpose but it is proven to not be true. See the video section of my site to understand that average returns mean nothing and you do not make 8-12% using variable investments. You will know more about what you actually pay and what you actually earn in your investments than you ever have before.
- Insurance Policy Audit and Inspection-I will review each and every Life Insurance Policy to make sure the fees, mortality charges, funding etc. are up to date. The design, the year you got the policy, the company you use, the product will all have a huge effect on how the policy performs. I once ran two illustrations to compare a very popular name brand company to another company with a lesser known name. With the same money going into the policy each year and the same amount of time one provided 80k of annual income for life and the other provided……220k! Bottom line: you either have the optimal product, company and design or you don’t. I will create a colorful, multi-page report for each of your cash value policies and show you exactly what you have and how it compares to your other options. I will review each term policy as well and help you know exactly how much insurance you should be carrying on each member of the family.
- Tax Plan Inspection-here’s the big. Our average right now is that we are finding 15k per year of mistakes PER CLIENT! Now, if you are paid W-2 income (employee) it probably won’t be this high but let’s me say it this way: You are most likely overpaying your taxes significantly even if you are using a CPA to prepare your returns. Again, we never know until we do a thorough, objective review and hold your current tax preparer accountable. Most CPAs are reactive (”what happened last year”) and we will take a proactive approach (”here are 100 strategies most people and CPAs are not using…do any of them help this client?”). My Tax Planning Team and I will review the last three years of business and personal tax returns and report back to you exactly how much money you are wasting by overpaying the IRS each year.
I don’t need your money to do this I just need you to send me stuff and answer my questions. If you think you would benefit from a very thorough Financial Inspection like this I’m here to help.
God bless,
Charlie Jewett
619-929-4000
