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Sound Recommendations
To Manage Your Wealth and Find Financial Peace of Mind

Intentional Planning Based on Who You Are and What You Strive For

At Storybook Financial, we’re here to simplify the complex and help bridge your life with your finances so you can experience a greater overall sense of peace, clarity and lasting stability. Along with our personalized process, we provide a structured and straightforward approach that allows for customization based on your goals.

What Services and Experiences Can You Expect?

Financial Life Planning Coralville, IA Storybook FinancialInitial Consultation

30 Minute Call or Zoom Meeting to learn about our services and related fees. This time may be used to define a potential engagement.  

Financial Life Planning Coralville, IA Storybook FinancialFinancial Planning

Our financial planning service is comprehensive and involves working one-on-one with a planner to develop and implement their plan. Ongoing planning means the planner will assist in monitoring the plan, recommend changes and ensure the plan is up to date.

A Client will be taken through establishing their goals and values around money. They will be required to provide information to help complete the following areas of analysis: net worth, cash flow, student loans, debt management, credit scores/reports, home purchases, employee benefits, retirement planning, insurance, investments, college planning, estate planning, and limited tax planning. Once the Client's information is reviewed, their plan will be built and analyzed, and then the findings, analysis and potential changes to their current situation will be reviewed with the Client. 

Clients will receive access to an electronic financial planning software during the life of their planning engagement, providing the Client with a detailed financial plan designed to achieve his or her stated financial goals and objectives. Ongoing planning clients will meet no less than an annual basis to ensure the plans accuracy and ongoing appropriateness, they may also ask unlimited questions or update on a quicker timeline if desired. 

In general, the financial plan will address any or all the following areas of concern. The Client and advisor will work together to select specific areas to cover. These areas may include, but are not limited to, the following:

Life Planning: Our first step in understanding who you are and what you hope to achieve is done through our process of life planning. Our advisors have been trained to truly listen to their clients and understand fully what an ideal life looks like to them. Only by gaining this understanding are we really able to help you with your unique financial situation. 

Personal Net Worth Statement: The first step to understanding your finances is understanding your net worth statement. This statement lists all the things you own and all the things you owe. This statement is like a photograph or a snapshot in time of your finances. It is our hope that you will be able to watch your personal net worth grow over time. We try to align our interest with yours by making Net Worth a factor in determining our fee. See below for fee.

Cash Flow: Cash flow statements are more like a video for a period, generally a year, of everything coming in and going out. We will conduct a review of your income and expenses to determine your current surplus or deficit along with advice on prioritizing how to increase your income or how to reduce expenses so that your surplus grows. This surplus is theoretically saved and invested so that you can increase your net worth.  

Budgeting: Your advisor will offer to help identify ways to increase income and/or reduce expenses as stated in cash flow, but we believe the best way to do this is through your own budgeting. 

Debt Management: Advice may also be provided on which debts to pay off first based on factors such as the interest rate of the debt, cash flow considerations, and any income tax ramifications. Special consideration is given to student loan debt as there are many programs available for potential loan forgiveness both nationally and on a state level.

Student Loans: Student loans have many special rules and opportunities that go with them. Special advise is given based on ability to qualify for loan forgiveness, affordability of payment, and other factors. 

Home Purchase: Determining how much home you can afford can be a difficult task. We help you understand your current and future cash flow to determine how much home you can afford without accidentally buying more home than you can afford.

Financial Goals: We 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.

College Savings: Includes projecting the amount that will be needed to achieve college or other post-secondary education funding goals, along with advice on ways for you to save the desired amount. Recommendations as to 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). 

Employee Benefits Optimization: We will provide 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 both business and personal retirement goals.

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 for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of applicable trusts.  We always recommend that you consult with a qualified attorney when you initiate, update, or complete estate planning activities. We may provide you with contact information for attorneys who specialize in estate planning when you wish to hire an attorney for such purposes. From time-to-time, we will participate in meetings or phone calls between you and your attorney with your approval or request.

Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long-term care, liability, home, and automobile.

Investment Advice: We work with clients to determine their risk tolerance and compare the risk they’re currently taking with their investments. We spend time educating clients on simple and easy-to-understand strategies for them to implement. Client may also choose utilize us for Investment Management at no extra charge. 

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 about weighing the costs of purchasing insurance versus the benefits of doing so and, likewise, the potential cost of not purchasing insurance (“self‐insuring”).

Retirement Planning: Our retirement planning services typically include projections of your likelihood of achieving your retirement date 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). 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 adversely alter spending during your retirement years.

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