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FINANCIAL PLANNING

We offer a free, preliminary financial plan in our first meeting. Connect with us under ‘schedule a meeting’ for the financial list to make the most of our time together. We are fee-only fiduciaries.

TMSG advisors generally set aside two hours for our meetings. We are generous with our time because the Lord has been so generous to us (John 3:16) with his Grace (Eph 2:8-9). Saving us physically, spiritually and guiding us through many hardships (Romans 5:3-8). He must get the glory (Math 5:16) as it is Him we serve (Col 3:23-24).

We encourage our clients to ask for prayer, and we will proactively pray with clients as deemed appropriate.

Minimums: TMSG adds accounts for non-profits, churches and individuals in a pro-bono way often and we will share our thoughts on your situation. The minimum needed to invest with each advisor at the firm varies, but is generally $100k to $1M+, with the average client over $1M invested.

Ongoing planning is critical for appropriate investment and advanced tax mitigation strategies, which is why we include it in our advisory fees. The average fee is less than 1% per year, which includes complimentary estate planning through wealth.com, and if more than $500k invested, a $350 payment towards tax services to a local CPA firm. We want to communicate and plan with the tax-preparer to optimize your situation.

Investments: “Compound interest is the eighth wonder of the world. He who knows it, earns it. He who doesn’t, pays it.’ – Einstein. Our investment strategy is to use a combination of higher-risk funds based on indexes, combined with more actively managed bond funds. This has performed well historically, but past performance doesn’t guarantee future results. Which indexes should we choose? That’s the most important decision to make historically.

The stock market has had a wide range of returns. It is often selling and buying companies inside the indexes, that limits upside and downside of investors. See JP Morgan’s guide linked to see how equities have had a similar downside to bonds over five to ten-year periods, with better downside over twenty-plus-year periods, and higher average return. We use financial planning to estimate years of withdrawals for clients to recommend investment risk, while overlaying your personal preference. 

 

Retirement: We use eMoney software to show you when we think you can retire, run scenarios, and optimize the impact of tax, investment, and estate strategies on your situation. We use the financial plan to guide recommended investments for appropriate withdrawals based on taxes, IRMAA, health care premiums, giving, and long-term tax planning. Clients can connect external accounts in one place, add what-if scenarios themselves, and run Monte Carlo analysis on demand.

Tax Strategies: We utilize many. Here are some common examples:

Roth vs Brokerage: The long-term tax savings of Roth vs. brokerage are about 5 times your investment over 30 years, with average market returns and taxes projected. What if I make too much? You may be able to use “Backdoor Roth”, “Mega-Backdoor Roth”.

529 pass through: use for private school, homeschool and as you pay for college for you or the next generation.

Roth Conversion Ladders: Converting from Traditional to Roth over time. We keep in mind healthcare premiums, IRMAA (Medicare premium increases), current and potential tax rates (integrating longevity projections), giving (QCD mitigates need), potential LTC costs, and other factors. We have software which helps to view these factors to make informed decisions. Many clients are projected to save over a million in taxes throughout their lifetime, but anticipating tax law changes and returns can have a wide range of potential outcomes.

Small Business Planning: S corp, healthcare, Augusta rule, 401k/403b(9) for Pastors etc., other deductions.

Giving Well: give appreciated investments directly to church or charity to forgo capital gains. Bunching. Donor Advised Funds. QCDs at 70.5+, counts towards RMD. UTMAs. Giving to heirs in advance to train them to invest well, and take advantage of multi-generational tax planning.

*Please Note: Limitations. The scope of any financial planning and consulting services to be provided depends upon the terms of the engagement, the specific requests and needs of the client, and the professional providing the services. Main Street Group does not serve as an attorney, accountant, or insurance agent. Main Street Group does not prepare legal documents or tax returns, nor does it sell insurance products. If the client desires, one of Main Street Group’s representatives, in their separate licensed individual capacities, can be engaged to provide insurance sales/services as described on Main Street Group’s written disclosure Brochure (a copy of which is linked to this web site) per the terms and conditions of a separate engagement and fee. Please Also Note: Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Main Street Group) or any planning or consulting services, will be profitable, equal any historical performance level(s), or prove successful.

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