Frequently Asked Questions

Wealth Management

How do you decide the right resources for my portfolio?
We decide the resources by considering your overall goals and time horizon. On top of that, we do a comprehensive risk analysis to determine your ability to handle risk.

What is a risk analysis?
A risk analysis is a questionnaire used to determine your ability to handle risk. It is also important to note that your risk tolerance may change throughout your life based on age, family, and financial stability. That is why at OnPoint it is a part of our annual review to ensure your current outlooks are discussed and implemented into your plan.

Tax Planning

What types of tax planning services do you offer?
We discuss how taxes will impact you today and in the future. By reviewing how income and distributions can and or will be taxed to you, you will have a clear picture of your net current and future income.

Will you do my taxes?
No, we will not file your taxes but, we can recommend some great accountants to do that for you!

Estate Planning

Do I need an attorney to conduct my estate plans?
Yes! In forming a will and/or trust you will need to contact an attorney. We can recommend some great attorneys who specialize in estate planning!

Why is it important we talk about my estate plans?
As the saying goes: the two things guaranteed in life are death and taxes. An important part of any sound financial plan is of the assets remaining upon your passing who are they going to and how.

Annuities

What is an annuity?
An annuity is an insurance vehicle that provide guaranteed payments for life or a set time. There are many different types of annuities such as fixed, variable, and index. Part of our education process is to fully explain these different types.

Is an annuity right for me?
Everybody’s financial situation and goals are different. Our planning and education process help identify your financial goals and what vehicles we need to get there.

401(k) & IRA

Will we discuss status of my employer sponsored retirement plan regularly?
Most definitely! Part of our planning process is maximizing what your employer provides you and making sure your personal financial plan compliments what is currently set up.

What are the rules in withdrawing money from my qualified retirement plans?
Age 59 1/2 is the magic age when you can begin withdrawing from your qualified retirement plans. Any withdrawal before that age you will be penalized. At 70 1/2 you must begin withdrawals by a minimum amount called an RMD (Required Minimum Distribution). At OnPoint we take all that into account and make sure your future income is as high as possible.

Life Insurance

How do I trust I am buying enough life insurance?
We do a comprehensive needs analysis to answer the question: how much coverage do I need? From there you might determine if you want more coverage. The choice is completely up to you!

Is there such as thing as too much life insurance?
This answer boils down to perspective. After going through our planning process, you will come out knowing the right amount of insurance for you. Whether it is a lot, a little, or none!

What are the different types of Life insurance?
There are many different types of life insurance, however they can be split up into two major categories: term and permanent. Part of our planning and education process is to go over all the different types to allow you to make an educated decision what type, if any is right for you.

Take control of your financial future