About Holistiq Planning
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What makes Holistiq Planning different from other financial advisors?
Many financial advisors focus on one piece of your financial life. We look at everything together. We coordinate your planning, investments, taxes, protection, and legacy into one unified plan and bring your other advisors into alignment to help so things do not fall through the cracks. We work with a specific kind of client: physicians, business owners, veterans, and individuals who want a financial experience built around who they are. Everything we build is designed specifically for you.
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What is the W.I.S.E. Money Bucket Strategy™?
The W.I.S.E. Money Bucket Strategy™ is our proprietary approach to organizing your investment resources into four clearly defined segments: Working Money, Income Money, Strategic Money, and Estate and Legacy Money. Each segment has its own purpose, timeline, and role in your overall plan. This approach helps reduce emotional decision-making, support your short-term needs, and gives your long-term assets room to grow. Every bucket plan is customized to your life and your Wealth Vision.
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What is a Wealth Vision and why does it matter?
A Wealth Vision is your personal definition of financial success. Before we recommend a single strategy, we help you get clear on where you want to be, what you want your money to accomplish, and what matters most to you. Everything we build seeks to bring that vision to life. Many advisors start with “how much do you have?” We start with “what do you want your money to do?”
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Who does Holistiq Planning work with?
We work with physicians, business owners, veterans, and individuals who want a big-picture financial planning experience built around their goals. Our clients value personalization, think independently, and expect more than a standard approach. If you have never felt truly heard by a financial advisor, you are exactly who we built this firm for.
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How does Holistiq Planning work with my other advisors?
We serve as the central coordinator between your CPA, estate attorney, and insurance agent. We make sure everyone is working from the same plan to help so things don’t get missed in the gaps between advisors. Many of our clients came to us with all the right professionals in their corner, but no one pulling it all together. That is where we come in.
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How do I get started?
It starts with a conversation. We will ask you about your goals, your concerns, and what you want your financial life to look like. From there, we walk you through our process and show you how we would approach building a plan for your situation. There is no pressure and no obligation. We want to make sure we are the right fit before we take a single step forward.
Retirement Planning
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Am I going to run out of money in retirement?
This is one of the most important questions to address early. The answer depends on how well your retirement is planned. Key factors include how much you have saved, how your money is invested, what you spend in retirement, and how long you live. A well-structured plan helps to account for these and helps incorporate financial safeguards and planning considerations designed to support long-term retirement. The W.I.S.E. Money Bucket Strategy™ is specifically designed with the goal to address this by organizing your assets so your short-term needs are always covered while your long-term assets can continue to grow.
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When should I start planning for retirement?
Earlier than you think. The earlier you start, the more time your money has to grow and the more flexibility you have if life changes. But no matter where you are in your journey, starting now is always better than waiting. Whether you are decades away from retirement or already in it, a coordinated plan makes a meaningful difference in how much you keep and how long it lasts.
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How much money do I need to retire?
There is no single number that applies to everyone. The right amount depends on your lifestyle, anticipated expenses, healthcare costs, other income sources, and what you want retirement to look and feel like. We work with clients to develop a clear retirement income picture that helps to account for these factors so you know specifically what you need.
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Do I need to keep life insurance now that I am retired?
It depends on your situation. For some retirees, life insurance is no longer necessary once income replacement is no longer the primary concern. For others, it serves important purposes: covering estate taxes, leaving a legacy, or providing for a surviving spouse. The key is making sure any coverage you carry is intentional and aligned with your current goals. We review your risks as part of your overall plan to make sure every dollar spent on insurance is doing something meaningful.
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What happens to my money if I have to go into a nursing home?
Long-term care is one of the most significant and often overlooked financial risks in retirement. The cost of nursing home or assisted living care can be substantial, and without a plan in place it can quickly deplete assets that took decades to build. There are several strategies that can help, including long-term care insurance, certain annuity structures, and asset protection approaches. The right solution depends on your health, your assets, your family situation, and your goals. This is a conversation best had well before the need arises.
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What is a required minimum distribution and do I have to take it?
A required minimum distribution (RMD) is the amount the IRS requires you to withdraw from certain retirement accounts once you reach a specific age. These withdrawals are taxable and are required by law. Failing to take them results in significant penalties. Planning around RMDs is an important part of retirement income strategy, particularly when it comes to managing the tax impact and coordinating with your other income sources.
Taxes in Retirement
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Will I still pay taxes when I retire?
Yes, and for many people retirement does not reduce their tax burden as much as they expect. Withdrawals from traditional IRAs and 401(k)s are taxed as ordinary income. Social Security benefits may be partially taxable depending on your overall income. Required minimum distributions can push you into a higher tax bracket. With the right planning in place, there are meaningful ways to reduce your tax burden in retirement, including Roth conversions and tax-efficient withdrawal strategies.
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When should I use a Roth IRA?
A Roth IRA can be a powerful tool in the right situation. Because contributions are made with after-tax dollars, qualified withdrawals in retirement are generally tax-free. A Roth can be especially valuable if you expect to be in a higher tax bracket later in life or if you want to create tax-free income in retirement. Roth IRAs are also not subject to required minimum distributions during the account owner’s lifetime, which makes them useful for legacy planning as well. Whether a Roth IRA makes sense for you depends on your current tax situation and your overall plan.
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What is a Roth conversion and should I consider one?
A Roth conversion involves moving money from a traditional IRA or 401(k) into a Roth IRA. You pay income tax on the amount converted in the year you do it, but future growth and withdrawals are generally tax-free. Conversions can make particular sense in years when your income is lower than usual or in the window between retirement and when Social Security or RMDs begin. Whether and how much to convert is a decision that should be made in the context of your full financial picture.
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What is tax-loss harvesting?
Tax-loss harvesting involves selling investments that have declined in value to offset gains elsewhere in your portfolio, reducing the amount you owe in capital gains taxes. When used intentionally as part of a broader investment strategy, it can improve your after-tax returns over time. It is not appropriate in every situation, but for clients with taxable investment accounts it is worth incorporating into the broader tax planning conversation.
