Frequently Asked Questions
What is your planning process?
The process typically begins with a conversation to understand your goals, current financial picture, and any concerns you want to address. From there, the team gathers relevant documents and builds a plan that considers your full picture. Once a plan is presented and discussed, implementation happens step by step, with regular reviews to track progress and adjust if necessary.
Are you a fiduciary?
Ivana Liberatore CPA, CFP® and Associates provides financial planning advice under a fiduciary standard, which generally means acting in a client's best interest when providing that advice. If you'd like more detail on how the fiduciary standard applies to your specific situation or the services being provided, that's a good topic to raise directly in a conversation with the team.
When should I start retirement planning?
Generally, the earlier retirement planning begins, the more options and flexibility it tends to allow — but there isn't a single "right" age to start. What matters most is that the plan reflects where you are now and where you want to go, not a generic timeline. A CPA-and-CFP® approach can be especially useful here, since retirement decisions often carry tax consequences that are easy to overlook without that combined perspective.
How much money do I need to retire?
There's no universal number, since retirement needs depend on factors like desired lifestyle, health, family circumstances, expected longevity, and other income sources such as Social Security or a pension. Rather than starting from a rule of thumb, a more useful approach looks at your expected expenses, your goals for the years ahead, and how your specific tax situation will affect what you're able to withdraw and keep.
How should my portfolio change as I get older?
Many investors gradually shift their portfolios to reduce certain risks as they move closer to needing the money, though the right approach depends on individual goals, time horizon, other assets, and risk tolerance. At Ivana Liberatore CPA, CFP® and Associates, we regularly revisit your investment mix in light of changes in your life, the markets, and tax considerations as part of an ongoing financial planning relationship.
Can a financial advisor help reduce taxes?
Our firm is led by a CPA and CFP® professional so tax considerations are built into the financial planning process from the start rather than addressed separately or after the fact. Tax-intelligent financial planning can identify opportunities to manage a household's tax liability over time — through strategies like retirement account contributions, charitable giving approaches, or the timing of income and withdrawals.
Do I need a trust?
Not everyone needs a trust — whether one is useful depends on factors like the size and complexity of your estate, family circumstances, state law, and your goals around privacy, control, and probate. This is a question best explored alongside an estate planning attorney and your broader financial plan, since the right answer depends on your specific circumstances.
How often should I update my estate plan?
As a general guideline, it's worth reviewing an estate plan every few years, and sooner after major life events such as a marriage, divorce, birth, death in the family, or a significant change in assets. Tax law changes can also affect whether an existing plan still works as intended. Because estate planning intersects with both tax and financial planning, reviewing it as part of your overall plan helps ensure your documents and your financial goals stay aligned over time.