Financial Plans

Choose a plan best for you

An effective financial plan addresses your questions, goals, and concerns. At Socrates Financial Planning, we provide three plans for different stages of life. This flexibility allows you to choose a plan that aligns perfectly with your needs and financial aspirations. Plans require 50% of the fee paid up front with the balance paid when the plan is delivered.

Getting Started - $1,180

Getting Started is ideal for early-career faculty. Make the most of your employer benefits, determine necessary life insurance coverage, identify monthly savings for retirement, and develop a simple but effective financial plan. These elements provide peace of mind that your finances are in order, and that you are on a path towards success.

Includes

  • 1-month engagement

  • Two virtual meetings

  • Unlimited email support

  • Goal setting

  • Net worth statement

  • Employee benefits review

  • 403b recommendations

  • Life insurance analysis

  • Basic estate planning

Getting Closer - $1,880

Getting Closer is a great option for professors in mid-career. Confirm you are on track to meet your long-term financial goals, set new priorities, and discover necessary adjustments.

Includes

  • 2-month engagement

  • Three virtual meetings

  • Unlimited email support

  • Goal setting

  • Net worth statement

  • Cash flow analysis

  • Retirement projection

  • Investment portfolio review

  • Tax planning

  • Estate planning

Retirement Roadmap - $2,480

Retirement Roadmap is for couples close to work optional (a.k.a. retirement). Confirm you are on track, explore social security and pension options, understand healthcare coverage options (i.e. Medicare), and identify any final adjustments as your approach this exciting life transition.

Includes

  • 2-month engagement

  • Three virtual meetings

  • Unlimited email support

  • Goal setting

  • Net worth statement

  • Retirement projection

  • Investment portfolio review

  • Retirement income planning

  • Social security analysis

  • Pension analysis

  • Estate plan review

Components of an Effective Financial Plan

There are several key components of a comprehensive plan. These elements provide a thorough assessment of your financial standing and a roadmap for reaching your goals.

  • Goal Setting

  • Net Worth Statement

  • Cashflow Analysis

  • Investment Portfolio Analysis

  • Employee Benefits Analysis

  • Retirement Plan Projection

  • Insurance Analysis

  • Tax Planning

  • Retirement Income Planning

  • Estate Plan Review

Our 6-step Financial Planning Process

In our collaborative approach, we guide you through a 6-step process to develop a custom financial plan.

Step 1: Define your financial goals.

Step 2: Gather all relevant financial information.

Step 3: Analyze the information with respect to goals.

Step 4: Develop a financial plan.

Step 5: Complete the recommended actions.

Step 6: Monitor and review yearly.