Personal Financial Strategies, Inc.

About

For over 20 years Personal Financial Strategies, Inc. has been dedicated to serving the needs of people who are nearing retirement or already retired. We provide flat-fee financial planning delivered in a caring, friendly and comfortable environment.

Story

Our company is based on the principle that the more you know, the better off you will be. Our comprehensive and caring relationship with each and every PFS client is the key to their lifetime success. The only way any competent financial fiduciary can add value to your life is to ask the proper questions, listen to your answers and recommend suitable and beneficial action steps. This is what we do the best. Many financial advisors have a “one size fits all” approach to financial and investment planning. We do not. The financial plan that we will create for you is based upon what matters most to you. It is tailored to your financial resources, current situation, family dynamics, and current and future financial goals and dreams. Is it your goal to potentially increase your retirement income? To lower your income taxes? To lower the stock market risk of your retirement savings? To make sure that you and your spouse will be protected in the event of long-term illness or disability? To properly plan your estate? To create a meaningful financial legacy for your children and grandchildren?

Disclosures
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Securities offered through Securities America, Inc., Member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services offered through Securities America Advisors, Inc. Personal Financial Strategies, Inc. operates independently of Securities America.

Trading instructions sent via e-mail may not be honored. Please contact Personal Financial Strategies at 847/268-3670 or Securities America, Inc. at 800-747-6111 for all buy/sell orders.

This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed.

The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Mission

To help our clients create a wonderful retirement lifestyle for themselves and a meaningful financial legacy for their loved ones. We value old-fashioned hard work, and never take a “cookie-cutter” approach to planning.

Products

Financial Planning

Financial Planning - The process of organizing, evaluating and utilizing your financial resources to define and achieve your life goals. Our financial plans consist of the following ten components:

1. A Starting Point - We create your balance sheet (financial assets minus financial liabilities). This is the starting point for our work. Many people are surprised by their net worth because they’ve never seen it in black and white.

2. Goal Setting - What good is a goal unless written down in a clear and concise fashion? Unwritten goals tend to remain as good ideas that are rarely implemented. First, we work with to identify your financial goals. Next, we help you to put your goals in writing. Finally, we track your progress towards achieving financial goals right along with you.


3. Cash Flow Analysis - Budgeting, saving and creating opportunities to potentially increase your retirement income.

4. Income Tax Analysis & Reduction - A thorough examination of your current income tax picture will help us identify ways to reduce your tax liability. Any income tax savings can help increase your financial net worth and potentially increase your retirement income. Having an in-house CPA is a major benefit for many of PFS’ clients.

5. Retirement Income Projections - We’ll help you answer the questions, “How am I doing?”, and “How can I do better?” A comprehensive evaluation of your current retirement savings, retirement income sources and needs, and alternative strategies to help increase your financial certainty throughout retirement.

6. 401(k), 403b and IRA Planning - Many of the investments we see in retirement accounts may be suitable for
20, 30, even 40 year olds, but may be too aggressive for people who are close to retirement or already retired.

We have seen hundreds and hundreds of times that many retirement accounts are not designed to generate the
income distributions that retirees may need to support their desired retirement lifestyle. The investments that
our clients own in their retirement accounts are suited to their age, retirement income needs and desired level
of safety of principal.

7. Life Insurance Cost/Benefit Analysis – Do you still need life insurance? Do you own the right type of life insurance policies, given your current life situation and goals? Is your life insurance owned in the correct manner and titled properly? Life insurance products have gotten better and less expensive over the years. We are often able to restructure existing life insurance policies to improve their benefits to you and your family, often lowering premiums and increasing coverage at the same time.

8. Long Term Care Insurance Cost/Benefit Analysis: A need for long term care prior to death is a real and potentially life-changing possibility for every family that is financially-secure in all other ways. According to the US Department of Health and Human Services, 70% of people turning age 65 can expect to use some form of long term care during their lives. According to the same source, one-third of today’s 65 year-olds may never need long-term care support, but 20% will need it for longer than 5 years. We offer every one of our clients a customized long-term care solution, based upon their assets, liabilities, income sources and needs as well as their current and desired retirement lifestyle.

9. Real Estate Review- Many of our clients have built their financial net worth from their real estate investments. And, they continue to hold onto their properties, even though the tax benefits may have all been used and the income no longer keeps up with the expenses and the headaches. A passive 1031 real estate exchange may provide a positive solution to real estate property management, potentially preserving all of the tax and income benefits of real estate ownership without the headaches of real estate management.


10. Estate Planning - Many of our clients want to leave a meaningful financial legacy to their children and grandchildren. This cannot be accomplished without proper planning. Don’t let unintended beneficiaries or Uncle Sam become your largest heir. Leave what you want, when you want, to whom you want, by planning today. Our in-house estate planning attorney Gregory P. Turza will offer each of our clients a complementary consultation, where you will be able to address all of the estate planning issues that are important to you.

Investment Management
Our Investment Management Services include recommending, guiding and helping to manage your investments, and consists of the following five elements:

1. Personal Risk Profile - Includes your individual investment needs and objectives, time horizon, preferences and attitude toward investing.

2. Asset Allocation Plan - Maximizes your potential investment returns relative to your desired degree of safety through careful and custom diversification.

3. Institutional Quality Implementation - A portion of your asset allocation plan may be managed by institutional money management firms not normally available to individual investors.

4. Ongoing Assessment - Your investment portfolio is carefully monitored on a regular basis to ensure it remains consistent with your needs and goals.

5. Periodic Review - To ensure that your asset allocation plan stays on course, periodic reviews are an important component of your retirement success. We accomplish this important piece of our asset management process at our semi-annual or annual meetings with our clients.