The Irvine Group at Morgan Stanley

One of the greatest joys a family can experience is to welcoming a child into the family. As much as the happiness the child will bring into your life, becoming a parent is daunting. The preparation for the arrival of the child is crucial, but what comes after? What sources of income do you have to provide for your child's needs? Have you set aside enough money for your child's future? How will you cover any unexpected expenses, such as unforeseen medical needs?

According to Forbes, the national average charge for childbirth is $18,865 ($26,280 for a C-section). Costs can change depending on the type of delivery, location, insurance type and prenatal care. In addition, the U.S. Department of Agriculture estimated that the cost for the average middle-income parent to support a child through their 18th birthday is almost $233,610 (more than $280,000 when adjusted for projected inflation), EXCLUDING the cost of college tuition. Of course, the cost of raising a family can vary significantly, depending on location and lifestyle considerations. What's important is making sure you have a plan in place for managing these costs over time.

In today's hyper-specialized globalist economy, education is crucial to develop high-level skills for future career development & advancement. Education is a major investment not to just yourself but your family as well. It is an investment that often requires years of careful, advanced planning. As educational costs continue to rise—from primary education through undergraduate, graduate and professional schools—it is important to take into account the different types of educational expenses, such as tuition, extension programs and advanced professional training, with appropriate funding strategies for their particular situations.

What plans do you have to finance their or a loved one's education? Are they familiar with the education savings plans available to them?

Your work is complicated, it could be a standard employment, executive compensations, and situations to various levels of investment in a multitude of business ventures—from startups to established enterprises. You need expert advice in navigating the complexities retirement investment, business ownership, and associated activities such as selling, divesting or planning for succession.

How does your work/employment fit in your overall investment/retirement process? Are you looking to start a business? Have you considered any market influences on the type of business you're seeking to invest in? Are you looking to divest from or exit a business? Why?

There are few events in life as important as Love & Marriage. The fabric of society rests upon this union of 2 parties. There are conversations you should have with your partner before tying the knot. One of the most important is about money—how they'll make it, save it, spend it and invest it. In addition, helping fund an adult child's wedding is a goal for many parents (and grandparents). The Irvine Group plays an important role in helping clients plan for these milestones and guiding their conversations for over 20 years.

What are your financial goals as a couple? Have they discussed budgets or created a family budget? Have they spoken with their partner about any existing loans and other financial
obligations?

Saving for retirement is a lifelong process that relies on defined financial planning strategies. It is equally crucial to look at personal considerations and help ease the fear of the unknown. Finally you are ready to settle down and enjoy your nest egg. Having enough income is the hallmark of a successful retirement but it is not everything. Have you planned enough for retirement healthcare? Are you optimized in your retirement tax mitigation?

You have spent years working and planning so that you have enough income for a comfortable retirement—but have you considered what might happen if you or your spouse require long-term care? Are you prepared in case of illness? Planning for long-term care can help manage this risk and provide more choices and more control over the care receive.

Death is hard to take in. Aside from coping with the loss of a loved one, legal matters also require immediate attention, including administration of the estate. Though it may be hard to discuss estate planning because of the heartache, addressing it promptly is crucial to saving both time and money, and to minimizing family conflict or confusion. Passing away without a will, known as intestacy, means the state determines how the deceased's assets will be distributed, and this may not be consistent with the family's wishes. Proceedings can also be painful and costly for the family.

Have you reviewed beneficiary arrangements of their existing retirement and insurance plans? Have you established a Will or Trust?

Every person should be prepared for their future, and it is important to develop the roadmap to financial success and stability through either goals or life cycles. Speaking with a Financial Advisor with experience and the proper designations is the first step to mapping out the financial journey of you and your family. There are times where you may encounter a situation which brings unease and require specific and special financial preparation. Speak with us to get the full customized planning and guidance you need!

As your wealth grows through proper financial planning, you will find yourself faced with more to manage. Managing your work & business, spending time with family, and planning vacations & trips, takes up a significant portions, if not, ALL of your time. It is incredibly difficult for you to manage your wealth directly in a rapidly changing economic environment which demands immediately adaptability and response. Talk with our Certified Portfolio Managers about how to manage your investment portfolio and match your goals with your time.

For the first time in two decades, interest rates record have soared to its 20 years peak. Traditionally viewed as a safe but low-yield asset class, Fixed Income have fallen out of favor during the extended low interest financial environment for the past couple of decades. However, with the rapid rise of Federal Fund Rates, the previously long neglected asset has been catapulted into stardom once again. Speak with us to see how you take advantage of Fixed Income investments today.

As an executive, you have plenty of business problems on your mind. The least of your worries should be your compensation and your financial needs, yet it always will bother you. Financial Advisors of The Irvine Group are expert for Executive Financials Service. We will help you navigate dangerous water created by SEC regulations regarding insider trading, control/restricted stocks, and create investment strategies based on your equity compensation. All of your complicated financial needs are resolved with us. Schedule a call now.

Due to shifting demographics, a proper retirement planning is more important now than ever. It is projected that social security is depleting at an alarming rate. Current projections from the Social Security Administration forecast will become insolvent after 2035. As a result, retirees could face a 25% benefit cut, and future retiree would likely have to work until the age of 70 for full benefits. 401(k)s is more crucial now as an additional retirement income source. We heavily recommend a conversation with our Advisors to help you plan for the future.

As your progress through your life, thoughts of legacy may occupy your mind. Preparing for your children and grandchildren's education, planning for estate succession and inheritance, or even establishing a foundation for charitable purposes. These are complex entities and require long-term planning to secure you and your families wealth through inheritance.

Divorce is a difficult topic and process for anyone. It is not just tough for you emotionally, but it can do large financial damage as well. When you finally decide to pull that trigger, you shouldn't see just a lawyer but also a Certified Divorce Financial Analyst (CDFA). It is important to take control of your finances and to understand the impact of property distributions, credits & basic finances, health & retirement, and your estate.

It is sad that as time passes, our health gradually deteriorates with it. While you have spent your time building wealth and enjoying the wonderous lifestyles you deserve, have you considered what needs to be done if you or your spouse require long-term care? Everyone should plan for the inevitable future scenario were we require quality care. It is may be hard to imagine now, but it is easy to set up with a Financial Advisor.