Financial Recovery Program
TriageOutcomes is a financial recovery program that uses traditional financial planning best practices to realign your assets and strategies and get you back on track with your goals.
Rebuilding your confidence begins with identifying both the healthy and the ailing elements in your portfolio and determining necessary changes. Together, and with a written plan, we'll take a hard look at where you are in relation to your goals and at what keeps you up at night. You'll get our objective, honest assessment about the work ahead of you.
Treatment is all about purging the bad assets from your portfolio and replacing them with good, functional assets. It's also about catching up on your savings and tamping down spending.
It's easy for financial tasks to end up in the bottleneck. You're busy! We’ll help you implement your turnaround at every level, from paperwork to consulting with other financial professionals on your team.
TriageOutcomes is data-driven. “Running the numbers” is what we do. Each year you'll receive a detailed report on the progress you’ve made.
1. Convert bad assets to good assets. Your decisions around unproductive financial assets are key to whether your financial turnaround will succeed.
2. Optimize savings. Always direct your next savings dollar to toward the highest risk-adjusted after-tax savings opportunity.
3. Pay yourself first and make it automatic. Make your monthly savings or debt payments happen automatically, before a single dollar makes it into your discretionary spending account.
4. Manage discretionary spending. What will you buy without thinking twice? How much will you spend on one item without consulting your spouse? What amount of spending requires review with my financial advisor and accountant?
5. Invest sensibly. Don’t try to outperform the markets. Only own investments that trade in public markets every single day. Decide on an investment strategy and stick with it.
6. Hope for a bear market. Buyers benefit from lower prices. If you are saving for retirement, your ideal scenario is a declining stock market.
7. Make a gradual transition. The benefits of moving to part-time work and delaying full-time retirement are likely greater than you'd imagine.