What We Do

At Discovery Wealth Planning, we provide life-centered financial planning for financially independent individuals and couples.

We believe that effective financial planning occurs at the intersection of your money and your life. It is in this sweet spot that we have an opportunity to implement real, lasting improvements to your long-term financial well-being.

Healthcare Planning

Healthcare costs are often one of the biggest expenses faced by retirees. In fact, a 65-year-old couple that retired in 2021 can expect to spend approximately $300,000 on health care and medical expenses throughout retirement.1

If that statistic scares you, you’re not alone. If not properly planned for, healthcare expenses can significantly erode your retirement savings. That’s why we focus on helping our clients implement a variety of strategies to prepare for this expense.

We begin by completing a Health Planning Analysis and discussing your specific needs to gain an understanding of what your healthcare expenses in retirement may be.

We conduct a thorough review of the following:

  • Health insurance policies
  • Employment/disability coverage
  • Medicare enrollment options
  • Pharmacy expenses
  • Elder care, senior care and long-term care insurance funding needs

We compare these estimated costs to your retirement income in order to identify any potential gaps. We then help you implement tax-efficient saving and investment strategies to help pay for any excess expenses.

Reference: https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs

Tax Planning

It’s not enough to simply build wealth, you also must maintain it. We work to help minimize your taxes and maximize your outcomes with a focus on reducing your lifetime tax liability. Specific to your retirement, we help you establish a tax-efficient investment and distribution strategy, which may include:

  • Tax Bracket Planning
  • Social Security Planning
  • Medicare Planning

Investment Management

We implement custom investment solutions specifically designed to help you achieve your retirement goals.

Using information gained through our personal conversations with you, we develop a custom investment plan and allocation target. In building the plan, we are guided by your specific objectives and tax considerations. It is this plan that guides all portfolio decisions.

We take a passive approach to investment management to minimize fund and transaction costs and taxes and to avoid behavioral biases associated with trying to time the market. We utilize low-cost exchange-traded funds (ETF’s) to build and manage custom portfolios.

Ready to get started?

Schedule a call with our firm’s founder.