Leslie Davis believes that everyone needs a written financial plan that protects hard-earned income and provides building strategies to make retirement more enjoyable. As president and founder of True Peace Financial Solutions in Overland Park since 2011, Davis and her team help clients by building tailor-made financial plans that work for them even when the market doesn’t.
“Most potential clients arrive at my office after saving for retirement for many decades, but 99 percent of them don’t have a written financial plan,” Davis says. “We bring it together for them by looking at how all the puzzle pieces interact.”
A comprehensive financial plan should answer the questions:
How and when should I take social security income?
How and when should I take pension income?
When should I start planning for required minimum distributions?
How much do I need to retire?
How long will my money last?
What happens to my spouse if I die first?
What happens if either spouse needs long-term care?
And many more….
“Retiring is different today than in previous generations,” she adds. “We have options to protect and grow our wealth without all the risk our parents had. But too often, planning ahead is easier said than done. Even after saving, accumulating assets and diversifying, life’s unknowns could dramatically impact your future. We need to protect the money it takes to pay the bills, and then have fun with the excess. In other words, do not gamble with your lunch money, and don’t leave your golden years to chance.”
Even during a pandemic, Davis and her team have been busier than ever with client services that include retirement, income, legacy, business and life insurance. As a full in-depth financial advisory practice, they look at every angle of each household’s financial plan, including risk tolerance and income for life.
Davis says this current climate of economic volatility has lessons for everyone.
“For younger generations, it’s a good lesson on having emergency funds set aside for 6-12 months of income in a crisis. The best thing to do now is hunker down, protect what you have and save any extra income if possible. For older generations, we want a sizable emergency fund, plus principal-protected retirement options for our nest egg. The worst thing a retiree can do is risk everything in the market, with the idea that the market ‘always comes back’ because in retirement, we don’t have time to make up losses.”
Davis is co-author of the book, “Momma’s Secret Recipe for Retirement Success” with Jack Canfield and hosts “Safe Money and Income Radio” Saturdays at 1:00 p.m. and Sundays at 3:00 p.m. on KMBZ-98.1 FM. She often encourages women to take a more active role in their financial futures.
“Women must realize that we typically live longer than men, and because of our role as care givers, we often make less over our lifetimes. Thus, our social security income and pension income streams are usually lower, but we have to make our dollars last longer. Many women need to add a sustainable income stream they will not outlive.”
Leslie Davis is passionate about putting her clients’ needs first and keeps business ethics at the heart of her decision-making. “Nothing is more rewarding than educating my clients to feel more comfortable and confident about their future.”
Truepeacefinancial.com Leslie Davis is the owner of True Peace Financial Solutions LLC, a financial services firm providing investment and insurance solutions to those in or near retirement. Investment Advisory Services offered through AlphaStar Capital Management, LLC, a SEC Registered Investment Adviser, which is not affiliated with True Peace Financial Solutions, LLC.