We know you're busy. You have a million things that occupy your day. So why pay attention to financial matters?
Because working towards financial goals gives you the chance to live your best life.
Without a solid financial foundation and saving habits, you could be toiling away for years in a position you don't enjoy instead of traveling the world or volunteering for meaningful causes.
Life doesn't have to be this way. WorthyNest® provides clarity and direction. We have several touch-points throughout the year to ensure you are getting consistent, reliable advice about the financial topics that matter most to your family. Our tiered service models are structured to meet families throughout each life stage.
Financial Planning Services
Comprehensive financial planning is our focus for all client families. We leverage technology and meet virtually with clients residing outside greater St. Louis. Financial planning is a process, not a destination. Expect to meet four or five times in the first year of our working relationship. Thereafter, we meet two to three times annually.
This standard offering is ideal for young families in the asset accumulation stage. You are seeking quality financial guidance from a trustworthy professional who makes recommendations in your best interest. Your CFP® professional, Deborah Meyer, will work with you through the following six-step framework:
- Agree on how to work together
- Gather data about your history, values, and goals
- Analyze and develop an integrated financial plan
- Provide recommendations
- Put the plan into motion
- Monitor progress and make adjustments as needed
The sixth step is critical and forms the basis of an ongoing planning relationship. One certain thing in life is change, and WorthyNest® wants to be with you each step of the way.
New WorthyNest® clients make a one-time, up-front investment of $1,000 to begin our services. Additionally, there is an ongoing financial planning payment for the duration of the working relationship. Households earning less than $200,000 annually pay an ongoing financial planning fee of $175 per month. An ongoing financial planning fee of $250 monthly is applicable for client households earning more than $200,000 annually.
Think of the service models as a stair-step. All financial planning clients follow a similar process to the FOUNDATION service model. For families with additional needs in the college planning space, we can go one step further. We collaborate with you to develop a detailed, customized college funding plan when your child is in high school. Our in-depth analysis considers your current investment assets, future earnings potential, and child's financial need. The additional financial investment for this service is $600, or $50 monthly over twelve consecutive months.
You find value in the FOUNDATION service model above. Yet you are also within five or ten years of being financially independent, a time when you will no longer rely on salary to fund lifestyle expenses. You want to do everything in your power to maximize retirement savings but do not always understand the tax consequences. Seeing several different "what-if" scenarios will help you select a preferred retirement strategy. You may be working with or have been disappointed in the past by a commission-based broker who sells an expensive investment product and fails to provide ongoing, comprehensive advice. This financial independence package could be just the thing you need to gain clarity around retirement goals. The additional financial investment for this service is $900, or $75 monthly over twelve consecutive months.
As the name implies, concierge is the highest level of service. WorthyNest® acts as your personal CFO on complex matters and fits the pieces of your financial puzzle together. It's your money, so you still function as the main decision maker of your financial household. We not only provide customized guidance but also execute agreed-upon investment strategies.
Concierge is the only WorthyNest® offering that includes investment management and holistic financial planning services. This service model is ideal for families who do not have the time nor energy to execute trades and monitor investment accounts. We seek your approval prior to investment implementation and hold your investments at an independent custodian, TD Ameritrade. Plan on meeting approximately five times in the first year of our working relationship and quarterly thereafter.
Given the high-touch nature of this service, our minimum annual fee for the Concierge offering is $4,000. Additionally, new clients make an up-front, non-recurring investment of $1,000 to begin using WorthyNest® services.
financial planning concepts
common in all service tiers
Cash Flow Management - Do you have a budget and are you following it? Have extra money reserved for savings but unsure which specific savings goal to tackle first? We will help set-up a new budget or tweak your existing budget and give your family the confidence it needs to have a foundational plan.
Education Planning - We go beyond college funding and look at other education needs, too. Want to send your kids to private grade school or high school? Which education funding vehicles are optimal?
Employee Benefit Review - Health, disability, and life insurance benefits through your employer can be confusing. Acronyms like HSA, FSA, and HDHP will be explained. Retirement plans can be equally confusing. We educate and empower you to make informed decisions about the percentage to defer and underlying investment elections.
Estate Planning - What happens if you are disabled or no longer living? Wouldn't it be nice to have a say in how things are handled if you can no longer make key decisions? You want to live intentionally, and legacy is an important part of that intention. We will work with your existing estate attorney or recommend a new one to ensure you have estate documents that properly reflect intentions and goals.
Insurance Analysis - What amount of insurance do you need? How often should you revisit? Is it better to seek employer-sponsored coverage? We will examine these critical questions annually with you and will ask for the assistance of an insurance agent if a coverage change is merited.
Investments - What is your investment time horizon and risk appetite? What percentage of stocks and bonds should you have in each investment account? These key items will be assessed in your initial financial plan.
Tax Planning - How does asset location impact investment planning? What are the tax implications of a Roth IRA conversion? How can charitable giving strategies lower taxes? WorthyNest® founder Deborah Meyer, CPA/PFS, CFP® has substantial experience advising families and small business owners about taxes. She will work with your family at least once annually to discuss tax planning.