Comprehensive Planning With Purpose
At 360 Financial, our goal is to take all the pieces of your financial puzzle and put them in place. To do so, we utilize a proprietary process that integrates wealth management with risk and debt management, income and tax planning, and philanthropy for successful families, professionals, and business owners. We call this the LifeWealth Process.
Our philosophy is that a true comprehensive financial plan should be converged and integrated around all facets of your life. We know that if it’s not fully integrated, it’s flawed.
Our review process includes the following areas:
Investment Management
Education Funding
Estate Tax Planning
Retirement Planning
Risk Management
Tax Planning Strategies
Interested in setting up a comprehensive financial plan?
Investment Management
We design our portfolios, called 360 iQ Investment Strategies, differently than other firms. Our 360 iQ Investment Strategies maintain a disciplined process that is focused on the following:
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maximum diversification
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minimal cost
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maximum tax-efficiency
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low turnover
Our 360 iQ Investment Strategies combine our “core” big picture macro thinking with a “satellite” relative strength/momentum process. The 360 team also meets weekly for investment committee meetings, which create actionable insights for us to thoughtfully iterate your portfolio so you hit your goals.
Education Funding
The cost of college is rising each year, so starting a 529 Plan provides the potential for TAX-FREE growth to help pay for your children or grandchildren’s college expenses. Remember, that a 529 Plan is an investment, so just like any other investment, it will fluctuate and the more time it has to grow, the better.
There is no right or wrong amount to save but setting goals is critical. How much do you hope to contribute for college? From there, we’ll help you set up an account and figure out what that means for a monthly or annual contribution.
Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
Estate Tax Planning
Estate tax planning helps preserve your assets for your heirs and the causes that are important to you. When you understand how estate taxes are calculated and what will likely be owed on your estate, you can prepare yourself for these costs and not be surprised later.
There are two sets of estate taxes in place at the moment: Minnesota Estate Tax and Federal Estate Tax. If the value of your estate reaches a certain level, it may incur taxes (commonly called death taxes) both in Minnesota and at the federal level.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
Retirement Planning
At 360 Financial we realize that retirement planning is more than simply saving for retirement. It also includes preserving your wealth and turning that wealth into an income stream that will be used to maintain your lifestyle throughout retirement and potentially leave a legacy to your family and community.
Questions we’ll help you answer:
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What type of account should I save my hard earned money in? (401(k), 403(b), IRA, Roth IRA, Individual/ Joint Account, or Trust)
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How much should I be saving for retirement?
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What should I be invested in to grow my wealth and preserve my wealth?
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When can I retire?
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How to take withdrawals in a tax-efficient and tax-smart manner?
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How much can I distribute from my accounts in retirement to ensure my wealth lasts my expected lifetime?
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How can I leave a legacy for my children that is tax-advantageous for them?
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When should I take my Social Security?
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Should I pay off my house before retirement?
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How can I leave a living legacy to my children, grandchildren, or community while I’m alive?
Tax Planning Strategies
At 360 Financial, we have the ability to use sophisticated planning software to assist in projecting your current and future tax brackets.
This ability will help us answer the following questions:
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Where should you save your money? (tax-deferred accounts, tax-free accounts, or taxable accounts)
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What proportion should you save in each bucket?
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Are there opportunities to save via a Backdoor Roth IRA?
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Will there be opportunities to make Roth Conversions in retirement?
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Can I take advantage of the 0% long-term capital gains rate?
Risk Management
One of the most important parts of your comprehensive financial plan is deciding how you will preserve your assets in the future. When you are working this hard to build your wealth, you want to plan your financial steps so you won’t lose this money in unforeseen circumstances.
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Schedule a 15-minute call with a 360 Financial advisor to find out if we're the right fit, how we can help you, and how the process works.