 Invest Smart, Live Well
Helping You Build a Legacy of Meaningful Wealth
Our clients are equipped with financial planning resources which help them navigate their future with C.L.A.R.I.T.Y and confidence. Kimball Creek Partners offers clear information to simplify personal finance, helping you make educated choices.
No matter your investing or financial experience, we invite you to check out our resources, engage with our content, and contact us for personalized advice. You have the tools to succeed; let our team in Tacoma, WA, help you use them.
Turning Aspirations into Achievements
New Client Information
1. Introductory Call
To determine if we are the right advisory team for you, we invite you to take advantage of our complimentary 15-20 minute phone call. Call our office to schedule your consultation, or book your appointment online. There’s no obligation or cost involved.
2. Discovery Meeting
If you decide to move forward after our initial call, we’ll arrange a cost-free, in-person or virtual meeting to understand your goals and priorities. This helps us align your financial strategy with what matters most to you. We ask that your spouse, life partner, or anyone impacted by your financial decisions join the meeting.
3. Partnership Call
Following our second meeting, we encourage you to take a few days to reflect on our discussions and consider engaging with other advisors - there is no rush. A few days later, we'll reach out to discuss whether our firm is the right fit for you. Once we all agree, our support team will help with account setup and onboarding.
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Frequently Asked Questions
Financial Planning
What is financial planning and why is it important?
Financial planning involves setting and achieving financial goals through proper management of income, expenses, savings, and investments. It is essential for creating a roadmap for financial security, stability, and future growth.
What are the key considerations for successful investing?
Successful investing involves understanding your financial goals, risk tolerance, time horizon, and diversification. It is important to research investment options, monitor performance, and regularly review and adjust your portfolio to align with your financial objectives.
Tax Planning
What are the benefits of tax planning services?
Tax planning services can help individuals and businesses minimize their tax liability, maximize their tax deductions and credits, and ensure compliance with tax laws and regulations. By strategically planning for taxes, clients can potentially save money and reduce their overall tax burden.
When should I consider using a tax planning service?
Tax planning services are beneficial for individuals and businesses at various stages, including when experiencing major life events (such as marriage, divorce, or retirement), starting or expanding a business, or when seeking to optimize financial strategies for financial resilience and long-term wealth management. Additionally, tax planning can help mitigate the impact of changes in tax laws and regulations.
Retirement
What age is the Social Security full retirement age?
67 for everyone born in 1960 or later.
What are the benefits for workers age 50 and older regarding retirement savings?
Workers age 50 and older can defer more income into their 401(k), 403(b), federal government Thrift Savings Plan, and contributory IRAs.
What are the rules for taking withdrawals from retirement accounts for individuals turning 55 to 59 1/2?
If you leave your job in the calendar year you turn 55 up to age 59 1/2, you can take 401(k) withdrawals from your company retirement account without triggering the 10% early withdrawal penalty. However, if you roll the money into an IRA, you’ll have to wait until age 59 1/2 to avoid the penalty unless you structure substantially equal payments for at least five years.
What is the significance of reaching age 59 ½ with regards to retirement accounts?
At age 59 ½, you can make distributions from IRAs without penalty; however, income tax will be due on withdrawals.
Investment Management
What is portfolio management and why is it important in investing?
Why is portfolio diversification important in investment management?
Portfolio diversification spreads risk across different asset classes, industries, and geographical regions. Diversifying your portfolio can help reduce the impact of market volatility and increase the likelihood of achieving long-term financial objectives.
Estate Planning
What are the key documents in estate planning besides a Will?
Besides a Will, important estate planning documents include Trusts, Health Care Directives, Financial Power of Attorney, and Final Arrangements.
What are beneficiary forms in estate planning?
Beneficiary forms are essential for accounts that allow a beneficiary designation as these assets pass outside of probate. Regularly reviewing and updating beneficiary designations is critical in estate planning.
How does life insurance and succession planning play a role in estate planning?
Ownership and beneficiary designations of life insurance have significant estate implications. Succession planning is vital for business owners to ensure an orderly disposition of their business or a buyout agreement if in a business with others.
How can I ensure my important documents are organized and accessible for estate planning purposes?
Document storage is crucial for estate planning. It is recommended to keep digital assets, personal property inventories, investment accounts, rental properties information, collectibles appraisals, and other important documents organized and accessible to your Attorney-in-fact and/or executor.
Education Planning
What is education planning and why is it important?
Education planning involves preparing financially for the cost of higher education, such as college or vocational training. It is important as it helps individuals or parents save and invest in advance to cover the expenses associated with education, thereby reducing the burden of student loans or debt.
When should I consider using a tax planning service?
Tax planning services are beneficial for individuals and businesses at various stages, including when experiencing major life events (such as marriage, divorce, or retirement), starting or expanding a business, or when seeking to optimize financial strategies for financial resilience and long-term wealth management. Additionally, tax planning can help mitigate the impact of changes in tax laws and regulations.
What is a 529 College Savings Plan and how does it work in education planning?
A 529 College Savings Plan is a tax-advantaged investment account designed to encourage saving for future education costs. It allows funds to grow tax-free and can be used for qualified higher education expenses, making it a popular tool for education planning.
Charitable Giving
What is charitable giving and why is it important in financial planning?
Charitable giving involves donating money, property, or assets to nonprofit organizations or causes to support their mission. It is important in financial planning as it allows individuals to give back to society, create a positive impact, and potentially receive tax benefits.
What are some effective strategies for maximizing charitable giving impact?
Effective strategies for charitable giving include setting a budget for donations, researching and selecting reputable organizations aligning with your values, considering donating appreciated assets for tax advantages, utilizing donor-advised funds, and exploring employer gift-matching programs for increased giving impact.