002: Financial Planning: The Pieces & The Big Picture

In this episode of “Absolute Trust Talk,” Kirsten talks to Geoff Zimmerman, Certified Financial Planner, Senior Advisor, and Chief Compliance Officer for Mosaic Financial Partners, Inc. Geoff is one of the San Francisco Bay Area’s most seasoned practitioners and concentrates on assisting both working and retired individuals and couples at the executive level prepare for major life transitions.

During their discussion, Geoff reveals his relatable anecdotes that describe the importance of why the individual pieces of one’s finances should be integrated into a master plan. He shares real-life examples, observations and insights from his specialized life transition focus providing listeners with actionable tips and tools to help them understand how each element when properly coordinated works together to avoid adverse interactions.

Big Three From Episode # 002:

  1. Individual planning parts might seem good, but how do they all work together?
  2. Life transitions have SEVERAL moving parts, find an advisor that will ask the right questions and who will ask A LOT of questions
  3. Look at the BIG picture

Time-stamped Show Notes:

2:45 – Thanksgiving dinner anecdote paints picture on the integration of financial planning

4:49 – Kirsten asks Geoff to highlight examples of financial planning pieces that need to be considered in context of overall financial plan

5:10 – Geoff talks real life example of setting up 529 plans

5:50 – Big picture, Geoff recommends asking these four questions when considering a 529

8:00 – Did you know that the 529 plan distributions may count as income for the student under certain conditions?

8:45 – Geoff discusses what moving parts need to be considered when a client is changing jobs

10:00 – When there’s a job transition there are benefit changes, retirement plan changes, accelerated expiration dates on stock options, moves to another state – tax implications

11:00 – Geoff mentions interesting life insurance observation that speaks to his life transition expertise

11:40 – Executive compensation, what restrictions are you up against when you leave a company?

13:40 – Geoff reveals his musical analogy for financial planning

16:50 – Geoff discusses and gives access to special tools just for listeners

21:25 – How estate planning affects the big picture

25:00 – How the new tax laws affect charitable gifts

26:55 – Geoff breaks down above the bar and below the bar deductions

30:05 – Geoff breaks down the different types of compensation professionals get and how that affects the big financial plan picture

37:25 – The one thing people can do to help improve financial life

Episode # 002 Freebie:

If you’re a busy, smart, successful person who needs help defining your goals, finding out the why behind your what, and the balance in your life, Geoff is giving us exclusive access to two of the worksheets he uses with his own clients. The Wheel of Life and Financial Satisfaction are intuitive worksheets to help gain clarity and pinpoint the areas in life that you feel confident in and those that need more of a prioritized focus moving forward. Click here to get your copy!

Resources/Tools/Links Mentioned in this Episode:

Mosaic Financial Partners, Inc.

East Bay Regional Parks Foundation

East Bay Regional Parks Estate Planning Seminars

Check out this episode!

[Ad] Do you need help with your California estate planning now? We can help. Together our Absolute Trust Counsel team will take a look at your situation and your specific needs to develop a strategic plan to help protect you and your loved ones. Here’s a link to schedule your free discovery today > https://absolutetrustcounsel.com/scheduling/.

If you’re someone who needs to include Medi-Cal planning in your estate plan, we can help. For more information on what Medi-Cal planning should look like, visit https://absolutetrustcounsel.com/practice-areas/medi-cal-planning/ for even more resources to help get you started.