Collin County Living Well Magazine September/October 2017 | Page 43

May We Please Have A Solution?
Let’s start with your ideal outcome. Think about it and write
it down. I say write it down by hand if you can read your
writing, because that seems to stimulate thinking, feeling,
and imagining. If not, type it and save it. We are looping
back to listing assets (what we own), liabilities (what we
owe), which could be our balance sheet. Then list income,
all sources, as we mentioned earlier. List your expenses
along with your debt payments.
This will let us know what we have to work with now and
in the future. The next step in my opinion is allocation, and
allocation usually boils down to asset classes, very popu-
lar with portfolio managers. Yet there is more to allocation
than stocks, mutual funds, ETFs (Exchange Traded Funds),
bonds, money market mutual funds, and all flavors of real
estate, royalties, and businesses. There is tax diversification
as well. Oh? In my opinion tax diversification, is part of
advanced planning, along with other wealth enhancement
techniques, like relationship management.
We like using tools like retirement calculators, mind maps,
graphs, charts, a professional team (CPA, estate/private cli-
ent attorney, and high-end property and casualty profession-
al, risk planner, and registered investment advisor.) Great
discussions ensue, they have been helpful and on point.
can we afford to spend during our retirement without run-
ning out of money and becoming a burden, and can we
leave some legacy to our family as well? We ask a series of
questions during our initial interview so we know your val-
ues, goals, hopes, dreams, beliefs, your family and friends,
and professional relationships, along with what you own
and what you owe, how you communicate and how you
like to work with your consultants and advisors. Then we
present you with a Mind Map to make sure we heard you
well. Then see if we have a fit as the right advisor for you
and you the right fit client for us. If it is a go, great, we draft
a plan of action, map that out and help you get started.
Of the three engineers that came into our office, our friend
and his wife and family were the right fit and are all clients
these many years later.
Summary
Establish a plan, by analyzing where we are and where
we would like to go. Line up the resources, form your team
of advisors, take action to transition from where you are
toward pursuing your goals.
So, consulting with experts, no matter how experienced we
are, is as essential as getting started on thinking or worry-
ing about the non-working for income stage. The new trick? HECM. I had not heard that term until earlier
today and I will continue my research and get back to you
on that. The Home Equity Conversion Mortgage is a revised
technique with several intriguing applications. As I said,
more details to follow. And, no, we will not be going into
that business. We would have an expert join the profes-
sional team and have them work independently.
Illustrate the Issue
The question? How do we pay our bills and just how much Securities are offered through Securities America Inc., member FINRA and SIPC, Advisor
services offered through Securities America Advisors., an SEC Registered Investment
Advisor. John Checki, Jr. Representative. This is not a CPA Firm.
John Checki Jr. and his firm have been helping some of the nicest families in North Dallas, Richardson, Plano, and Frisco for
about 30 years. They specialize in Baby Boomers Wealth Management and have a unique and complete Wealth Management
Process. You can read the rest of their story on their website. (John’s proudest accomplishment is his family: Children,
Grandchildren and Wife.) They love family and to travel, scuba dive, take pictures, study, and attend church gatherings.
John Checki, CPA, CFP®, CRC®
Your Personal Chief Financial Officer
2435 N Central Expy, Ste 1508
Richardson, TX 75080
[phone]
J.J. Checki III
www.johncheckijr.com
John Checki
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