The Fiscal Physical Process

A Proven Process For Achieving Financial Freedom

The Fiscal Physical Process​

Alchemy Wealth Management is home to the proprietary Fiscal Physical Process. The process entails the 7 Keys to Becoming Financially Fit.

Key One – Financial Literacy: Education

Financial literacy is the foundation upon which sound financial decisions are built. It’s essential to educate yourself about the principles of personal finance and investment.

  • Lifelong Learning: Commit to lifelong learning about financial matters. Stay informed about economic trends, investment strategies, and tax regulations. Consider attending seminars, reading books, and following reputable financial news sources.
  • Budgeting Skills: Develop strong budgeting skills to manage your income and expenses effectively. Create a detailed budget that tracks your spending, and make adjustments as necessary to ensure you’re living within your means.
  • Consult Financial Experts: Seek advice from financial experts, such as certified financial planners, to help you navigate complex financial decisions. They can provide guidance tailored to your unique circumstances.

Key Two – Good Financial Management: Live Within Your Means

Living within your means is a fundamental aspect of sound financial management. It involves making responsible financial choices to ensure long-term financial stability:

  • Budget Wisely: Create a realistic budget for your income, expenses, savings, and debt payments. Stick to your budget to avoid overspending.
  • Emergency Fund: Establish an emergency fund to cover unexpected expenses, such as medical bills or car repairs. Aim to save at least three to six months of living expenses.
  • Avoid Debt: Minimize using high-interest debt, such as credit cards. If you have debt, prioritize paying it off systematically.

Key Three – Retirement Planning: Regularly Review Your Retirement Plan

Retirement planning is crucial for securing your financial future. Regularly reviewing your retirement plan ensures it remains on track:

  • Set Clear Goals: Define your retirement goals, such as your desired retirement age and lifestyle. Knowing what you’re working toward is essential for effective planning.
  • Contribute to Retirement Accounts: Maximize contributions to retirement accounts like 401(k)s and IRAs. Take advantage of employer matching contributions if available.
  • Review Investments: Periodically assess your retirement portfolio to ensure it aligns with your risk tolerance and long-term objectives. Adjust your investment strategy as needed.

Key Four – Investment Management: Buy and Rebalance Low-Cost Investments

Investment management is about building wealth while managing risk.

  • Diversify Your Portfolio: Diversification involves spreading your investments across different asset classes, such as stocks, bonds, and real estate. This diversification helps reduce risk.
  • Low-Cost Investments: Invest in low-cost index funds or exchange-traded funds (ETFs) to minimize fees and expenses, which can erode your returns over time.
  • Regular Rebalancing: Periodically rebalance your investment portfolio to maintain your desired asset allocation. Rebalancing ensures that your risk profile remains in line with your objectives.

Key Five – Risk Management: Protect Your Assets

Protecting your assets is vital to safeguard your financial security.

  • Insurance Coverage: Review your insurance policies, including health, life, auto, and home insurance. Ensure you have adequate coverage to protect against unforeseen events.
  • Estate Planning: Develop an estate plan that includes a will, trust, and powers of attorney. Doing so helps protect your assets and ensures your wishes are followed.
  • Emergency Fund: As mentioned earlier, having an emergency fund can provide a financial safety net during unexpected crises.

Key Six – Tax Management: Reduce Your Lifetime Tax Bill

Efficient tax management can significantly impact your lifetime wealth accumulation. Consider these strategies:

  • Tax-Efficient Investments: Invest in tax-efficient assets and accounts, such as Roth IRAs and tax-managed funds.
  • Tax Planning: Work with a tax professional to create a tax-efficient strategy. These strategies can include taking advantage of deductions, credits, and tax-deferred savings opportunities.

Key Seven – Estate Planning: Ensure Your Estate Plan Outlives You

Estate planning is about protecting your legacy and ensuring that your assets are distributed according to your wishes:

  • Regular Updates: Review and update your estate plan to account for changes in your family, financial situation, or the law.
  • Beneficiary Designations: Keep your beneficiary designations on financial accounts and insurance policies up to date to ensure a smooth transition of assets.
  • Legacy Planning: Consider charitable giving and philanthropy as part of your estate plan to leave a lasting impact on causes you care about.
By focusing on these seven keys to financial success, you can build a solid foundation for your financial well-being, ensure a comfortable retirement, and leave a meaningful legacy for future generations. Remember that financial planning is an ongoing process, and regular reviews and adjustments are essential to stay on track toward your goals. Ready to dive deeper into understanding the Fiscal Physical Process? Our Book, “Your Fiscal Physical: 7 Keys to Becoming Financially Fit” is available now on Amazon.

Our Onboarding Process

Our onboarding process is designed to build a strong foundation for a successful financial partnership. We’re dedicated to helping you make informed decisions, providing peace of mind, and empowering you to achieve your financial dreams. Contact us today to take the first step toward financial prosperity and security.

Step 1

CONSULTATION

15 minute intro call

Our Fiscal Physical onboarding process begins with a friendly and informative 15-minute introductory call. During this initial conversation, we take the opportunity to get to know you better. We’ll discuss your financial objectives, concerns, and what led you to seek our guidance. It’s a chance for you to ask any preliminary questions you may have and for us to explain our approach and services. This step sets the foundation for a collaborative and trust-based relationship.

Step 2

DIAGNOSE​

Up to 60 minutes – information gathering meeting

Once we have understood your initial needs and goals, we move on to the diagnosis phase. This phase is where we dive deeper into your financial situation. During an in-depth information-gathering meeting, which can last up to 60 minutes, we’ll collect all the necessary details to create a holistic view of your financial landscape. Including examining your current assets, liabilities, income, expenses, investments, retirement accounts, and any specific financial challenges you may be facing. Our experienced financial advisors will guide you through this process, ensuring no stone is left unturned. We’ll ask questions and actively listen to your responses, all to gain a comprehensive understanding of your unique financial circumstances.

Step 3

PRESCRIBE

Up to 60 minutes – Alchemy presents recommendations

After a thorough diagnosis, we move on to the prescription phase, where Alchemy Wealth Management presents tailored recommendations based on your specific financial situation. This crucial step in our onboarding process is where we leverage our expertise to design a customized financial plan that aligns with your objectives and aspirations.

During this consultation, our financial experts will present a clear and detailed roadmap for your financial journey. We’ll walk you through our recommendations, explaining the reasoning behind each one. Whether it’s investment strategies, retirement planning, debt management, tax optimization, or any other financial aspect, we aim to provide you with a comprehensive plan that addresses your immediate needs and long-term goals.

Annual Strategic Planning Meeting

Annual Financial Evaluation For All Clients

The Annual Strategic Planning meeting is a cornerstone of our client engagement process and typically lasts approximately 60 to 90 minutes. Throughout the meeting, we encourage open dialogue and questions to ensure you have a clear understanding of your financial strategy and the steps needed to achieve your objectives.

Review of the Previous Year

We’ll start by looking back at the progress made over the past year, celebrating achievements, and addressing any challenges or changes that may have arisen.

Goal Refinement

We will revisit your financial goals and objectives, ensuring they align with your aspirations. If there have been any changes in your life or financial situation, we’ll incorporate them into your plan.

Investment Portfolio Review

We’ll provide a detailed analysis of your investment portfolio’s performance and assess its alignment with your risk tolerance and long-term objectives. Adjustments or rebalancing may be discussed if necessary.

Financial Planning Updates

We’ll start by looking back at the progress made over the past year, celebrating achievements, and addressing any challenges or changes that may have arisen.

Risk Assessment

We’ll conduct a thorough risk assessment to ensure your investments align with your risk tolerance and overall financial strategy. Adjustments are made as needed.

Discussion of New Opportunities

We will explore new financial opportunities and strategies relevant to your goals, informing you about potential enhancements to your financial plan.

Why Choose Alchemy Wealth Management

Financial services consistently rank last in consumer trust amongst its peers. Alchemy Wealth Management allows our clients to work with a firm they can trust. We accomplish this by remaining fee-only, fully independent, and choose always to operate as a fiduciary for our clients.

FIDUCIARY

Fiduciary Oath Alchemy Wealth Management
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Fee Only Alchemy Wealth Management
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Independent Alchemy Wealth Management
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This will primarily be an information gathering meeting.

We will learn about your current financial situation, future goals and comfort level with risk. This process allows us to understand your unique needs and objectives.