Debra B. Freedman Personal Financial Planning, LLC

You’re confronted with financial decisions every day:

• New iPhone?
• Dinner out or leftovers at home?
• Charge the weekend cruise and pay it off when I can?
• Pay cash, lease or finance the new car?
• Toyota or Jaguar?
• Public or private school for the children?

Sometimes, you are faced with one-off financial decisions that are more complex in nature:

• Should I refinance my mortgage?
• What do I do with all these student loans?
• Do I take the lump sum or annuity payout on my pension?
• Do I buy a long-term care insurance policy or self-insure potential future care costs?
• Should I retire now?
• Should I take out a reverse mortgage?

Still other financial decisions can be thrust upon you…unexpectedly and often contrary to your wishes.  These decisions typically arise at times of life transition (e.g., divorce, death of spouse, job loss/career change):

• I’m in the process of being divorced. Should I keep the marital residence after my divorce?
• I’ve just been widowed, can barely make it through the day, and know nothing about my financial situation. What do I do with life insurance proceeds, and retirement plans, and health insurance, and money requests from family members, and all the bills that are piling up?
• I’ve just lost my job. Should I look for a new job or should I start my own business?

The financial decisions you make…big or small…on a daily basis or one-off…willingly or unwillingly…are invariably interconnected.  Each decision you make in one aspect of your financial life has the potential to affect…positively or negatively…other areas of your financial life, and your personal life as well. Therefore, how you make financial decisions, and the consistency with which you make them, can mean the difference between a life of constant financial stress and worry…and a life of financial freedom and well-being.

Informed financial decisions are not made in isolation. They take into account the interconnectivity of the various aspects of your financial life, as well as other important financial and personal factors.  Informed financial decisions consider:  your overall current financial situation; important financial fundamentals relating to the decision at hand; the tradeoffs that are involved in a particular course of action; the level of control you have over an outcome; your personal relationship with money; the likelihood that a course of action can and will be successfully implemented; and, most importantly, the degree to which a particular decision will move you closer to achieving your stated short and long-term financial and personal goals.

Informed financial decision-making increases the likelihood that:

• You will avoid costly mistakes which could adversely affect your financial well-being, now and in the future.
• You will be better prepared for emergencies and life’s surprises…and more resilient in their aftermath.
• You will steer clear of financial issues that can negatively impact personal and professional relationships.
• You will enjoy the freedom, independence and security that come with having sufficient financial resources to live the kind of life you want to live, given the possibilities within your reach.

Making informed financial decisions on a consistent basis…in the context of a well-thought-out financial plan with clearly articulated, measurable, and attainable financial goals…can lead to a better life for you and the ones you love.

Debra B. Freedman Personal Financial Planning, LLC is committed to helping people make informed financial decisions for a better life!

Know your current financial situation.

What resources are flowing into your financial system (…salary, pension, Social Security, etc.) and what is flowing out (…in the forms of spending, taxes, and savings)?  What do you own (assets) and what do you owe (liabilities)?  This basic knowledge is key to creating a viable financial plan, and to effectively addressing and responding to the inevitable changes that come with time…and with the unexpected.

Know financial fundamentals.

While you don’t have to be a financial guru, knowing and understanding relevant basic financial concepts on some level is essential to making informed decisions.  Deciding on a retirement date without understanding the “time value of money” or how a “tax-deferred” account works is like flying blind.  The same holds true for investing without knowing the basic differences between a stock and a bond, or not understanding concepts like “volatility,” “diversification” and “risk/reward”…at least to the degree necessary for you to be comfortable, confident, and informed in your decision-making.

Know the tradeoffs.

Every financial decision you make has potential tradeoffs…pluses and minuses…advantages and disadvantages…risks and returns.  Thinking things through and being able to identify and evaluate potential outcomes is critical to informed decision-making.  Taking your Social Security benefits early will have a positive impact on your current cash flow, but it can also reduce your lifetime benefits significantly.  Opting for the “annuity” payout on your pension plan at retirement can provide you with “guaranteed” income, but the “lump sum” option might better address the loss of purchasing power that comes with inflation over time.  Knowing the tradeoffs involved in a particular course of action, understanding how those tradeoffs apply to your unique, personal financial situation, and thoughtfully weighing potential outcomes are essential elements in making informed financial decisions.

Know what you can control and what you can’t.

Some things in your financial life you can control…and some you can’t.  Understanding what is controllable, what is “somewhat” controllable, and what is not at all controllable is key to making informed financial decisions that are likely to lead to better financial outcomes. You have total control when it comes to setting realistic financial goals, how much you spend and save, and the risk you are willing to take in your investment portfolio.  You have some control over how long you work and how much you earn, your longevity, the fees and costs you pay for your investments, and certain investment-related tax efficiencies.  You have no control whatsoever over disruptive world events, political stalemates, the behavior of the market or market returns. Focusing your efforts on those things you can control in your financial life, while finding ways to best address those you can’t…is critical to informed decision-making.

Know yourself and your financial behaviors.

Knowing yourself and your financial behaviors is a key element in informed financial decision-making. When it comes to money-related decisions, are you impulsive or deliberate?  Do you crave instant gratification or feel a sense of accomplishment in working towards a goal?  Do you feel a need to “keep up with the Jones” or feel content and confident living within your means?”  What is your history surrounding money?  What emotions come into play when you are dealing with financial issues? What motivates you to act in certain ways around money-related issues?  How likely are you able or willing to modify or overcome unproductive money behaviors?  Knowing yourself and your financial behaviors can help you (…and your advisor) make more informed decisions and tailor solutions or courses of action that are more likely to be successful, as compared to ones that do not take into account your personal relationship with money.

Know what is actionable and what is not.

The best financial strategy is worthless if it can’t be practically and successfully implemented. If a course of action is too complicated to set in motion and/or sustain…if you can’t or don’t “buy into” a strategy because it doesn’t fit with your world view or your unalterable money behaviors…if you and a significant other are at odds about what actions to take, then viable alternatives must be considered. Sometimes the optimal financial solution is not necessarily the best “real life” financial solution for you. Knowing what is actionable and what is not in your financial world will help you to make better, more informed decisions.

Know your personal and financial goals.

Having clearly articulated, measurable, and attainable financial goals is key to making informed financial decisions. In fact, it is the reason making informed decisions matters in the first place. Your financial goals, and how you prioritize them, are the embodiment of what you value and care about most in life (…security, family, education, independence, freedom, fun, responsibility, etc.). Achieving these goals is your target, and each financial decision you make, big or small, will lead you closer to…or farther from…that target. Making informed financial decisions on a consistent basis…all focused on attaining your financial goals…increases the likelihood that you’ll hit a bullseye!

Debra B. Freedman Personal Financial Planning, LLC is committed to helping people make informed financial decisions for a better life!

Exclusive Planner/Client Relationship

When you sign up to work with Debra B. Freedman Personal Financial Planning, LLC, you will be working exclusively with Debra B. Freedman, CFP®, CPA/PFS℠, CDFA™, firm founder and principal, at every stage of your planning engagement.

At Debra B. Freedman Personal Financial Planning, LLC, the planner/client relationship is paramount, and everything from requesting and gathering your financial information…to reviewing and analyzing your data…to inputting that data into firm systems and state-of-the art planning software…to following up with questions and requests for clarification…to helping you formulate your short and long term financial goals…to developing and delivering strategies and recommendations to help you reach those goals…is viewed as an opportunity for “Debbie” to get to know you better as a client…and as a person.

Being involved in every phase of your planning enables Debbie to know you and your financial situation firsthand; to readily address your questions and concerns; to offer you personalized financial advice, education, and coaching; and to provide you with a consistency and continuity of service that greatly enhances the planning process.

Expertise and Experience

Debra B. Freedman is a highly educated, credentialed, and experienced planner who is active in the planning community. She is a CERTIFIED FINANCIAL PLANNER™ professional (CFP®); a Certified Public Accountant and Personal Financial Specialist (CPA/PFS℠); and a Certified Divorce Financial Analyst™ (CDFA™), with specialized training in the fundamental, financial, and tax issues of divorce.  (…more)

During her twelve years with a well-respected Miami wealth management firm, Debbie provided comprehensive financial planning and investment management services to a wide variety of clients.  In her role as lead planner, Debbie counseled countless clients though major life transitions, including retirement, divorce, loss of a spouse, and job loss/career change.

Having herself experienced divorce and career changes, Debbie is acutely aware of the personal, social and financial challenges that are part of unanticipated life transitions.  This firsthand knowledge enables her to bring valuable empathy and perspective…along with her financial expertise and experience…to clients going through the ups and downs of such life transitions.  Debbie takes great care and satisfaction in helping her clients navigate through the challenges and uncertainties of life to a financially secure and fulfilling “new normal.”

Fiduciary and High Ethical Standards

Debra B. Freedman Personal Financial Planning, LLC holds itself to a fiduciary standard, which means the Firm will act in the utmost good faith, performing in a manner believed to be in the best interest of its clients. Firm services have been carefully and thoughtfully structured to provide you with independent, objective, unbiased financial advice.

As a Registered Investment Advisor with the State of Florida, Debra B. Freedman Personal Financial Planning, LLC accepts the obligation not only to comply with applicable laws and regulations, but also to act in an ethical and professionally responsible manner in all professional services and activities.

Debra B. Freedman, CFP®, CPA/PFS℠, CDFA™ also adheres to strict codes of conduct and ethics governing each of her professional designations. Ethical principles that are embraced include: integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence.

Hourly or Fixed Project Rate Fee Structure

Debra B. Freedman Personal Financial Planning, LLC is a fee-only firm that charges an hourly (currently $225.00/hour) or fixed project fee for its services.  There are no required minimums, nor does the quality and level of planning services you receive depend on the value of your investable assets, income, or net worth.  The Firm’s fee structure is fair, clear and transparent.

Debra B. Freedman Personal Financial Planning, LLC does not sell products, does not accept commissions, and neither accepts nor pays referral fees of any kind.  The Firm does not manage investments on a continual basis and its fees are not tied to/based on the value of assets under management.

Planning-Focused Philosophy

Debra B. Freedman Personal Financial Planning, LLC is founded on the beliefs that having a well-thought-out financial plan in place and making informed financial decisions on a consistent basis will enable you to build a strong financial foundation and achieve your personal and financial goals.  Focusing on the things that are controllable in your financial life (how much you spend and save, the level of risk you take in your investment portfolio, how long you work and how much you earn, the investment fees and costs you pay, etc.) is believed to be much more productive and predictive of financial success than over-reliance on and preoccupation with those things you cannot control (like disruptive world events, political stalemates, the market and investment returns).  This planning-focused philosophy is reflected in the types of services Debra B. Freedman Personal Financial Planning, LLC has chosen to provide. (…more)

With respect to investments, Debra B. Freedman Personal Financial Planning, LLC offers investment consultation services which include: education relating to investment fundamentals; initial portfolio design and asset selection; evaluation of current investment strategies; and review of employee retirement plans, stock options, etc. Debra B. Freedman Personal Financial Planning, LLC does not hold assets under management nor does it provide ongoing investment management services. This approach is consistent with the planning-focused philosophy of the Firm, and allows for objectivity and independence in recommending the most appropriate investment management solution for a client.

Today’s investor has access to a vast array of investment management options that offer asset diversification, portfolio rebalancing, and investment-related tax efficiencies at a significantly lower cost than traditional asset-under-management advisors charge. These options (including “fin-tech”/robo advisors, lifestyle funds, and target date funds, to name a few), when paired with quality, personalized, planning-focused services, can provide an appropriate, effective, and holistic financial solution for a majority of the investing public.

For those clients who require, prefer, and/or are willing and able to pay for the services of a more traditional assets-under-management approach, Debra B. Freedman Personal Financial Planning, LLC can provide thoughtful referrals to appropriate, qualified, and well-respected third party investment managers. Debra B. Freedman Personal Financial Planning, LLC neither accepts nor pays referral fees under any circumstances.

Debra B. Freedman Personal Financial Planning, LLC effectively addresses both the planning and investment aspects of your financial life, while emphasizing and encouraging informed decision-making for a better life.

Commitment to Financial Education and Literacy

The financial challenges faced by many people today…including unparalleled student debt, underfunded retirements, high levels of credit card debt, underwater mortgages, non-existent or underfunded emergency accounts, and lack of appropriate insurance coverages…can be attributed, at least in part, to an inadequate knowledge and understanding of fundamental financial principles.

Debra B. Freedman, CFP®, CPA/PFS℠, CDFA™ recognizes the importance of financial education and its role in creating better lives.  She is passionately committed to providing financial education and promoting financial literacy. This commitment is reflected in the educational workshops offered by Debra B. Freedman Personal Financial Planning, LLC and permeates every aspect of your client experience at the Firm.

When working with Debbie, you are always encouraged to ask questions and to seek explanations and answers that satisfy your desired level of interest.  Debbie’s early training as a secondary school teacher and, more recently, her specialized training as a financial educator instructor, enable Debbie to take unfamiliar and complex financial concepts and present them in ways that engage you in meaningful learning. Whether you’re asking about how to read your brokerage statement or what the differences are between a stock and a bond or what the “uninsured motorist” coverage on your automobile insurance policy means, Debbie will provide you with answers you can understand and relate to.  No question is considered too small or too basic or too insignificant to ask.

The more knowledge and understanding you have of financial fundamentals in general, and of your financial situation specifically, the more informed decisions you can make…and the better life you can live.

Debra B. Freedman Personal Financial Planning, LLC is committed to helping people make informed financial decisions for a better life!