Certified Financial Planning
Our Financial Planning Philosophy
At Bull Oak Capital, we act as a dedicated financial planner in San Diego committed to helping you make better financial decisions. The better the decisions, the more likely you are to reach your financial goals. We are here to act as your financial partner and counselor.
Whether you are saving for retirement, building a real-estate portfolio, or just starting out, the principles are the same. How you earn, spend, and invest your cash-flow will determine your future financial lifestyle. We approach financial planning in a very scientific, data-driven way. We use a cash-flow based financial planning process to determine the best course of action you should take. When determining the different possible outcomes, we rely heavily on comparing different possible scenarios.
Problem Solvers: Questions We Can Help Answer
5 Stages of Financial Life
A comprehensive financial plan should be at the core of any long-term investment plan. Whether it’s generating retirement income, transferring wealth, or leaving a charitable legacy, your goals come first. Investing isn’t only about growing your portfolio. It’s also about aligning your portfolio with your specific life goals.
For those that have recently entered the workforce, many are faced with questions of how they can achieve their financial goals. These often include how to pay off their student debt, when and how can they buy a home, and how much should they put aside for retirement. For these individuals, time is on their side. The earlier they have a financial plan in place, the better.
By now, these individuals have more or less figured out their career path. They have likely moved up from the individual contributor role to a management role. Wages have increased and many have started a family. These individuals are starting to realize that their financial lives are becoming more complicated. Common questions include primary home purchases, college planning, how to reduce tax liability, retirement planning, and risk management.
The midlife stage represents the phase where most professionals enter into their prime-earning years. It is critical that these individuals have a comprehensive financial plan and they are saving as much as possible. These working professionals are often very busy as they are trying to manage their personal life with their professional career. Common questions include retirement planning, college planning for their children, tax liability reduction strategies, investment property income strategies, estate planning, and risk management.
You have worked hard to get to your station in life. Chances are, you are currently experiencing the prime earning years of your life and you are concerned with your retirement years. Have you saved enough? What if an unexpected expense occurs? What about my legacy to my children? We can help you figure out these difficult life questions and prepare you for an enjoyable retirement.
You are currently retired and likely enjoying the fruits of your labor. However, you may also be concerned with your cash flow needs and your portfolio balance. Do you have enough saved up? When should you file for Social Security? How aggressive should you invest while retired? We can help you sort through these questions and others and help you put together a reliable and predictable retirement plan.
Financial Planning Process
The Financial Planning Process is a four-step process that is designed to get you on-track. Our goal is to not only show you the path to financial success, but to also act as a guide to help you achieve it.
We begin the financial planning process with a 3-hour Fact-Finding Session, the most important step of the process. We use a highly effective, deep-dive mind mapping method to accomplish this. The Fact-Finding Session is our opportunity to learn about your life goals, financial relationships, assets and debts, and your current and expected budgetary needs. SEE BELOW FOR AN EXAMPLE
By now, we have a clear understanding of what you are trying to accomplish and what your current financial life looks like. We have an exhaustive internal planning workflow we adhere to, including several drafts of alternative scenarios we build out for our clients. We take into consideration tax status by year, portfolio balances, passive income strategies, and asset allocation throughout the years. If required, we will reach out to our clients for further clarification and idea generation.
Once we have drafted the financial plan, we will schedule a date to review. We will review your current financial status, our recommended course of action, plus alternative scenarios considered.
After a course of action has been agreed upon, we will begin to execute on those plans. One of the primary duties a financial advisor has is to ensure that his/her clients is to stay on track. As such, we reach out to our clients multiple times per year to schedule a review session to see how things are progressing, If needed, we need to adjust the client’s plan as the facts change. Of course, a financial plan is a living document and it will need to be updated as time passes and as life takes its unexpected course.