Tax, Retirement & Wealth Advisors in Salem OR | Jamison Hanson

As Financial Advisors in Salem, OR, we specialize in Wealth Management and Retirement Planning. Schedule a free review today!

Call: (503) 391-1040

Our Company Overview

Your life is busy enough without adding wealth management to the mix—but that doesn’t mean you should miss opportunities to protect and maximize everything you’ve worked for. At Jamison Hanson, we believe hardworking business owners and professionals deserve a better wealth management solution. That’s why we provide a comprehensive service that allows you to manage your accounting and financial planning services all in one place—so you can get back to living your life.

As a CPA financial advisory practice, we provide a holistic relationship that not only brings simplicity to your financial world, but helps you take advantage of timesaving and wealth-building opportunities. Our diligent communication allows us to maintain comprehensive oversight of your long-term goals while we reduce your tax burden and address day-to-day planning needs. When you work with us, you’ll have an entire team that’s privy to your financial landscape, making it easy for you to address all your financial questions in one place, at one time. Our fee-only planning structure ensures the focus is always on you—your goals, your opportunities, and your best interest. We’re not influenced by commission-based products, and our advice speaks solely to what serves you.

We know your life is busy, but that doesn’t mean it should be more complicated. We believe that by simplifying the process of holistic wealth management, we can become a catalyst that helps you achieve your biggest goals, save precious time, and gives you confidence about your future.

Our Process

 

Introductory Call

Our first step is to get to know you and what your financial world looks like. We’ll have a quick phone call to discuss what you’re looking to accomplish from your wealth management and how we can help you achieve your goals. During this call, you’ll also have the opportunity to ask us questions so you can get to know us better.

 

Discovery Meeting

If we determine we’re a good fit for each other, we’ll set up a virtual or in-person meeting to discuss your financial goals in more detail. We’ll help you understand your risks compared to your potential rewards, and we’ll show you how to bring everything together to accomplish your goals. From there, we’ll outline systematic, efficient ways to make it happen.

 

Implementation

Now it’s time to get started—once we have a plan in place, our team will work with you to help you implement each step of your financial plan. Each of our strategies is designed to help you reduce your tax burden, save time, and maximize your wealth, and we help you navigate each step so you can focus on living your life. We strive for constant communication so we can answer any questions you have along the way and ensure you don’t miss any opportunities.

Our Fees

Whether you need simple tax planning services or comprehensive financial planning, we make it simple to manage your wealth. Our firm offers three payment structures to suit our clients’ unique needs.

Hourly Rates

Our hourly rates vary depending on which staff member you work with and the level of expertise your planning requires. Clients on an hourly rate typically work with us in a one-off capacity, and our fees range anywhere from $105 to $355 per hour. The cost for an initial consultation meeting is $495.

Monthly Retainer

Clients leverage our monthly retainer model for both comprehensive financial planning and tax and accounting services. If you own a business, becoming a retainer client provides a simple way to manage your personal and professional taxes for one fixed monthly fee. Depending on your planning needs, our monthly retainer can cost between $95 to $595 for individuals, and $595 to $1995 per month for businesses.

Accounts Under Management

For clients with a traditional, comprehensive wealth advisory relationship, we leverage an Accounts Under Management (AUM) payment structure. It’s similar to a retainer model, but in this case, we structure our fees according to the quantity of assets we’re overseeing on your behalf.

Fee Schedule

Let’s Get Started


The Tradesperson

Carl didn’t have to go to college to carve out a solid career. He’s skilled at what he does, puts in hard work every day, and has the callouses to show for it. That competence and reliability have paid off in making him an asset to his employers, so the income he brought in over the years coupled with a commitment to living beneath his means has allowed him to create a nice nest egg. “I’m starting to feel the years,” he told me. “That’s the tradeoff for doing work you enjoy, I guess. I’m looking forward to another ten years on the job, but my body might have other ideas.” Carl confessed that his back was starting to feel stiff some days. He wasn’t in pain or injured, but it was taking him a little longer to loosen up in the morning, and he was ready to hit the couch when he got home at night. He wanted to make sure he was protected. “I’d rather have a stiff back from wiring a building than sitting at a desk all day,” he joked as I shifted in my desk chair and laughed. “But I want to make sure we’ll be okay in case I have to hang up my gear earlier than planned.” With a son in college to become an engineer and a teenage daughter who plans to follow in her father’s footsteps by learning a trade, he and his wife, an RN, still have tuition and child rearing expenses to cover. But they’ll be empty nesters soon, and he wonders if downsizing their lifestyle could leave them with more options in the long run. Other than setting money aside regularly, he’s not familiar with investing or tax strategies. So he doesn’t know where to start. “We’re not extravagant people, but we chose a good school district and mortgage to go with it. When the kids are gone, Sheri and I are thinking it might be easier on the budget and more enjoyable to move out of the suburbs into a smaller house with some land.” “That sounds like you’d be living the dream, Carl,” I said. I knew we could make some adjustments to give him the freedom to retire earlier if need be. “Your toolbox is different from mine, let’s make sure you have the tools you need in place to be comfortable in retirement.”

Primary Concerns

How We Helped

The Widow

That’s why there’s no time like the present to meet with an attorney and get your documents updated to make sure they are in good order. The eventual (if not immediate) need for a power of attorney, and health care proxy to be filed is of the utmost importance. Heart disease is one of the leading causes of death in America. And although we know this to be true, it seems that dementia is right up there with the clients we help. The onset is often young (late 50’s, early 60’s), and to date, there is no cure, no surgery to be done. “We’re coming to see you,” Laura said. “Just so you know, he is having some memory issues and is having some testing done. Please don’t mention the ‘D’ word in front of him. It’s early in the process for him, and he knows what it means and what the outcomes are.” We had a conversation, the three of us. His comprehension was good, but there were differences. I checked my notes as to the last time their wills were updated… it had been a while. On a subsequent visit, Laura let me know she was having difficulty grasping the enormity of the potential expense to care for him. By choice, long-term care insurance had not been part of their plan. She was now projecting the harsh realities around the cost of care, not to mention the taxes on their IRAs to access those funds. “He has life insurance,'' she said, “but it expires in 5 years. I can’t stop feeling awful, but I’m counting on that being there for me, assuming I have to use our retirement assets to pay for care.” “It’s not selfish; it’s survival,” I said. “Remember, your goal is to provide him great care while he’s alive. His goal was for the two of you to enjoy your lives together. He would be upset if, after 40 years of professional work, you spent all of it on him.” By the end of our conversation, she understood that the death benefit is for the survivor, not the person whom the policy is on. As to the timing of it, my experience is that spouses who survive their loved ones have already mourned the very essence of their being, well before their bodies have given up. The willingness to do what is right for him now will somehow be balanced out later. She still maintains the family home, stays close to her children and lifelong friends, and travels when she can. Because of our work together, Laura is more at ease and confident in her financial future.

Primary Concerns

How We Helped

The Single Mom

Life doesn’t always go as planned, but the more dedicated, disciplined, and prepared we are, the better financial future we can enjoy—no matter the circumstances. Paige had been to a presentation I did about her workplace benefits. The company was having on-again, off-again “reduction-in-force” offers to take an early retirement, or to simply leave. When I answered the phone, the caller sounded a little nervous. She had never met with an advisor before, but after attending the presentation, she thought I might be able to help her. She started working at the phone company right out of high school. A few years later, she was married, and soon after that, well, you know those newlyweds! By the time her daughter was five, her husband had left. It turned out, fatherhood wasn’t for him… nor was consistently making child-support payments. That didn’t stop Paige from working and raising her daughter to become a healthy, productive adult, or from making her 401(k) contributions. As the years went by, she had questions. “Am I saving enough? Do the investments make sense? How am I going to pay for college? Can I afford to buy a new car when I retire? Should I pay off my mortgage? The dream trip to Tuscany… is it doable?” She looked to me for advice and guidance. I admired (and still do) her commitment to providing for her daughter and her consistent resolve to save and invest for her future retirement. Paige accomplished a lot—a whole lot, really. But the best offer yet from her company came in her mid-50’s. She had been saving, waiting, for this moment for over 30 years. It was scary—no, intimidating, for her to really contemplate not having that paycheck, paid vacation, and benefits. “How do I evaluate the early retirement offer?” she asked. “How will I live? Where will I get money from? Will I pay taxes on my retirement? What about the company stock?” “You know,” I said, “we’ve talked about this many times. You did some great prep. Work with me.” “I know,” she said. “But big decisions like this are stressful, especially with the deadlines. And I know you can explain it to me again so I can be confident in my decisions.” Paige did take that offer. She works part-time now and spends one to two days a week caring for her parents. “Do they have health care proxies, powers of attorney, and wills?” I asked. She laughed, “Does it ever end with you?” As long as time marches on and the world keeps changing, then no, it never really ends. The topics of conversation and how I am trying to help keeps our relationship fresh.

Primary Concerns

How We Helped

The Married Couple

Corrine retired first. One of the largest razor blade companies was headquartered in Boston, and they treated their employees well. A pension combined with a 401(k) match in the form of a stock that did very well gave her a comfortable nest egg and monthly income…not to mention a Medical ESOP plan. Her husband Ed retired many years later. An employee of the federal government, he wanted to work longer to increase his pension benefit. He too did well with his Thrift Savings Plan (TSP). But he had some credit card debt, so we devised a strategy to pay it off over two tax years, using vacation buyout money at retirement and TSP funds the following tax year. The couple had been clients of mine for several years, and he had put off retiring more than once. When I saw them call in, I figured he was calling to let me know he had finally decided to retire. Unfortunately, he was calling to let me know that his son died very prematurely. They came in, still reeling from grief, to discuss what they wanted to do next. Corrine and Ed come from a small island nation where family customs favor the eldest son. At the time of his death, he had two young children, the older of which was two and the other only months old. “We want to provide for our grandchildren,'' they said, “to make sure they can be educated when the time comes.” Neither Ed nor Corrine had attended college, but they made sure their sons did, and now, in their son’s absence, they will provide for his children. Given their young age, I suggested they speak with a local estate planning attorney to see if she thought setting up some type of trust to put assets in (and to name as a beneficiary) would help them accomplish their goals. She agreed, drafted the relevant documents, and they are now comforted by having a plan in place. Their son’s death triggered Ed to retire immediately. He and his wife now care for their grandchildren daily when their mother goes off to work. Their involvement in the grandchildren’s lives helps to ease their pain, pass on family values, and keep the legacy of their son alive.

Primary Concerns

How We Helped