Creating a Well-Balanced Plan for the Future
Balancing competing financial goals with career and family obligations can make long-term planning hard to do on your own. Working with your J.P. Morgan Private Client Advisor can help — by taking the time to get to know you and understanding what's important to you over the short and long term. Your J.P. Morgan Private Client Advisor can help you prioritize your objectives, as well as help you navigate what can be emotional or difficult financial decisions.
A focus on goals-based services forms the core of our long-term client relationships. Your J.P. Morgan Private Client Advisor will use a disciplined planning process to help you realize your goals, such as paying for college or retirement. Together, you can review the mix of your combined investments and savings to identify gaps and potential risks.
Gaining an objective, in-depth perspective from your J.P. Morgan Private Client Advisor could lead to new insights and uncover factors you may have previously overlooked.
Developing a Personalized Investment Strategy
You and your J.P. Morgan Private Client Advisor will look at your entire financial landscape and develop a Customized Financial Analysis to assess how your finances measure up to your vision for the future. This in–depth analysis performs multiple calculations to help identify your "confidence zone" and "probability of success," enabling you to consider a range of outcomes. Informed by your unique fears, hopes and deeply held principles, your plan serves as a blueprint to guide your financial decisions in the short- and long-term.
Working together to identify your goals, your J.P. Morgan Private Client Advisor will then develop an investment strategy tailored specifically to your needs, and then align your investments to help you meet your objectives. Our financial analysis tools and planning insights can help define a realistic vision of your future, outline a strategic path to reach your goals and anticipate the unexpected scenarios you might encounter along the way.
When Developing Your Investment Strategy,
Your J.P. Morgan Private Client Advisor Will Look To:
Position your portfolio to reflect your long-term goals
Ensure a broad level of asset class diversification
Select investment solutions from best-in-class managers carefully screened by J.P. Morgan
Continue to make short-term adjustments to your portfolio
Working Together to Balance Multiple Goals
No matter your financial situation, it's important to take all of your goals into consideration, such as planning for rising college costs or retirement. Your J.P. Morgan Private Client Advisor understands that when it comes to planning advice, there are no one-size-fits-all solutions.
Your J.P. Morgan Private Client Advisor takes the time to get to know you and understand what's important to you before creating a Customized Financial Analysis that offers a 360° view of your financial life and helps bring your goals into focus.
ROLL OVER TO LEARN MORE ABOUT OUR PROCESS
Goals & Objectives
Aligned with Your Goals
Progress Over Time
The process starts with a conversation with your J.P. Morgan Private Client Advisor to gain a deep understanding of your vision for retirement, as well as your full financial picture, including cash flow needs and investable assets, investment objectives, time frame and risk tolerance.
A financial analysis will assess your financial landscape to determine if you're on your path to meeting your goals.
We will also:
- Evaluate investment and savings accounts and current portfolio allocations, including risk and return characteristics
- Forecast retirement income needs
- Review your most current information with you to make informed decisions to help you reach your goals
Our goal is to help you understand trade-offs and maximize the probability of meeting your financial goals. This step helps you visualize each goal and identify how small adjustments can increase your probability of successfully achieving what's most important to you.
Your J.P. Morgan Private Client Advisor will develop a concrete strategy to help you achieve your goals.
Together, you will look to:
- Position your portfolio to reflect long-term goals
- Ensure broad asset diversification
- Continue making short-term adjustments
The plan you develop with your J.P. Morgan Private Client Advisor is an ongoing dialogue. Periodic reviews will help us monitor your plan and progress. It is also an opportunity for you to revisit your goals and priorities along the way, and modify your strategy to reflect any changes in the market and your life.
Meet with your local Chase Private Client team to begin discussing your goals.Let us contact you
Answers from J.P. Morgan
SELECT A TOPIC and READ ANSWERS TO FREQUENTLY ASKED QUESTIONS ABOUT VARIOUS FINANCIAL GOALS
I plan to retire before my spouse - how should we coordinate Social Security benefits?
The decision about which spouse should claim spousal benefits may not always favor the lower-earning spouse. Your decision may be influenced by the timing of your retirement, your relative ages and health histories - another reason why navigating spousal benefits is so complicated. Your J.P. Morgan Private Client Advisor can help you decide the best course of action.
How should healthcare factor into my retirement plan?
With healthcare costs rising two to three times faster than the cost of inflation, you'll need to consider how they may impact your standard of living in retirement. How much you'll need may depend on when you retire, how long you live, your overall health and the cost of medical care in your area. Your J.P. Morgan Private Client Advisor can help you evaluate your assumptions and adjust your plan as necessary to consider higher potential expenses in retirement and healthcare before other expenses.
How do we plan for expenses involved with caring for an elderly parent?
Caring for an aging parent can be both emotionally and financially challenging while you're juggling other family goals.
Your J.P. Morgan Private Client Advisor can help you evaluate your current situation, suggest alternatives and develop a plan to budget for these additional expenses.
What tax savings opportunities are available to me?
The tax landscape frequently changes. In addition to traditional tax-favored accounts such as IRAs, 401(k)s and the like, other approaches — from municipal bonds and managed accounts that seek to improve after-tax returns to charitable giving and tax-harvesting strategies — may be appropriate for your situation. Talk to your J.P. Morgan Private Client Advisor who, along with your tax professional, can recommend tax-efficient investment strategies.
How do trust funds factor into the college planning process?
It depends on whether you're thinking about setting up a trust fund for the benefit of a child's education or if the child already has a trust. Most trust funds are counted as assets in the financial aid application process, often as an asset of the child. Your best move is to have a legal or tax professional review the trust document. A conversation with your J.P. Morgan Private Client Advisor can help determine the role trust funds could play in planning for a child's college education.
Our daughter will be ready for college well before we're ready to retire. What's the best way to balance the two goals?
It's not uncommon for families to balance multiple goals. Ideally, you should start early to fund a college education so that your money has plenty of time to grow. But prioritizing your goals doesn't always mean ranking them by what's next on the horizon.
Investors often make the mistake of tapping their retirement plan assets to pay for tuition. If you're shy of your goal by the time the child is ready for college, borrowing money may, in fact, be a better solution. Talk to your J.P. Morgan Private Client Advisor about your personal situation to learn how you can accomplish both goals.
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