Understanding Your Complete Financial Picture
Every successful financial plan begins with a thorough understanding of where you stand today. At Fee-Only Planning Hawaii, Step 1 of our 7-step process is dedicated to gathering and organizing all of the information needed to build a plan that is genuinely tailored to your life.
This is not a cursory intake form. We conduct a detailed review of your income, expenses, assets, liabilities, insurance coverage, tax returns, estate documents, and existing investment accounts. We also take time to understand your family situation, career trajectory, and any unique circumstances that affect your financial life.
What We Gather
Our data-gathering process covers every dimension of your financial life: employment and compensation details, retirement account statements, insurance policies (life, disability, property, long-term care), tax returns, estate planning documents (wills, trusts, powers of attorney), real estate holdings, and any outstanding debts or obligations.
Why Thoroughness Matters
The quality of any financial plan is only as good as the information behind it. Clients are often surprised by how many planning opportunities emerge simply from organizing and reviewing their complete financial picture in one place for the first time.
A Common Discovery
Many new clients arrive with financial accounts and documents scattered across multiple institutions with no centralized view. Simply organizing everything into one picture often reveals immediate opportunities — overlooked employer benefits, misaligned insurance coverage, or accounts with excessive fees.
Information We Gather in Step 1
A comprehensive inventory of your financial life provides the foundation for every recommendation that follows.
Income & Compensation
We document all income sources — salary, bonuses, equity compensation, rental income, Social Security, pensions — and how they are expected to change over time.
Assets & Investments
We inventory every account — retirement, taxable, savings — including current balances, allocations, fees, and beneficiary designations.
Liabilities & Obligations
We catalog all debts — mortgage, student loans, auto loans, credit cards — including rates, terms, and payoff timelines.
Insurance Coverage
We collect declarations pages and policy details for life, disability, health, property, auto, umbrella, and long-term care insurance.
Tax Returns & Situation
We review recent federal and state tax returns to understand your current tax position, filing status, and planning opportunities.
Estate Documents
We review your will, trust, powers of attorney, healthcare directives, and beneficiary designations for completeness and consistency.
How Step 1 Works
Initial Consultation
We begin with an introductory meeting to understand your situation at a high level and explain our process.
Document Request
We provide a detailed checklist of documents and information needed for a thorough review.
Secure Collection
You upload documents to our secure platform or provide them in person for digitization.
Organization & Review
We organize all information into a comprehensive financial snapshot.
Clarification Meeting
We follow up to fill any gaps and clarify details before moving to Step 2.
Step 1 Preparation Checklist
Gather these items before your initial engagement:
Recent pay stubs or income documentation
Most recent federal and state tax returns (2-3 years)
Statements for all bank, investment, and retirement accounts
Insurance policy declarations pages (all types)
Mortgage statements and loan documents
Estate planning documents (will, trust, POA, healthcare directive)
Social Security statements from SSA.gov
Employee benefits enrollment guide
Frequently Asked Questions
Get answers to common questions about Step 1 of our planning process.
Related Planning Steps
Our 7-step process ensures nothing is overlooked. Explore the other steps.