Ken and Donna Carter

Phase One: Inventory and Discovery

Phase one is the time for orientation, beginning with a well structured Decision Free Zone to allow yourself time to take inventory and discover your core anchors, touchstones and your best vision of the next life chapter. Once completed, you will have a better understanding of who you are at this point in time, how you want to create the next chapter of your life, and of your new financial resources and responsibilities. It is important to avoid making long-term commitments and resist the temptation of large purchases before you fully prepare for the implementation time of Phase Four.

Phase Two: Protocols and Scenarios

Phase Two is dedicated to mapping out how you will manage the opportunities and realities of your new financial decisions. By using the self discoveries in Phase One we will be able to craft how-to protocols for managing your cash flow, allocating your resources, and managing your competing goals.

Phase Three: Written Financial Plan and Policies

Phase Three is the time to use the scenarios, protocols, and agreements made in Phase Two as the basis for your written financial plan and personal policies. Once you see your plans and intentions in written form you will have the opportunity to again examine your hopes and expectations to determine if this is the best plan of action to support the life you want to live. Phase Three is also a good time to test your understanding of the investment and income plan we are about to put into action. You should feel a growing sense of control and confidence as you enter Phase Four.

Phase Four: Implementation

Phase Four begins the dynamic time for putting your resources into action according to your financial plan. This is when your long term investments are purchased, your real estate purchases begin, gifts are made, and permanent estate planning decisions are made.

Phase Five: Review and Refine

Phase Five is titled this way because it is likely that some of your expectations, intentions, and choices don’t immediately feel like a perfect fit. As you begin to live with the decisions made in Phase Three we will continue to make adjustments as you gain a better and better grip on the realities of your new life chapter. The length of Phase Five may be longer than you first anticipate, it is not unusual to take three years to really “get “ all the pieces of your financial and family life.

Phase Six: Wealth Management and Stewardship

Phase Six may begin within Phase Five. This is when you start to feel a sense of control; it is your time to begin your personal career of managing your wealth, strengthening your advisor team, and becoming a steward of your resource.

* A member of the Sudden Money Institute’s network of Financial transitions professionals who received training in assisting clients who have experienced a financial windfall.

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