When you’ve built significant wealth, the word “budget” doesn’t really apply to your financial life. You’re not choosing between groceries and gas. At this stage your cash-flow challenges are about timing large expenses, managing irregular income, and positioning your money where you need it, when you need it.
Many financial advisors only focus on investment performance or tax strategies. But I’ve learned that cash-flow planning is often the missing piece for my clients. It’s the difference between feeling financially scattered and feeling financially intentional.
Cash Flow for Retirees
For my retired clients, we establish what I call a “monthly flow”—a systematic approach where we send them money each month. This might come from their brokerage account, their IRA, or a combination of both. Sometimes I route IRA distributions through their brokerage account first, then send a set amount to their operating account. The goal is predictability.
But retirement cash flow isn’t just about monthly income. The real conversations happen around what I call the “big 5”: taxes, travel, gifting (both family and charitable), property expenses, and what I refer to as “bunchy expenses”—those annual or semi-annual bills like insurance premiums and long-term care policies that can cost thousands of dollars at once.
Some clients prefer to manage their annual insurance premiums or long-term care policy payments by setting aside money on a monthly basis. Others would rather keep their monthly distributions lower and reach out when these larger bills come due. We might lower their regular monthly amount and keep the excess in their investment accounts, knowing they’ll call us in November saying, “Both of our long-term care premiums are due…we need an extra $15,000.”
This approach requires ongoing conversations and meticulous documentation. We maintain trading notes and tickler reminders in our CRM system, and keep all client emails regarding future expenses. During regular meetings, we revisit these plans and verify that we have cash positioned appropriately.
Property-related expenses deserve special attention. Whether it’s a home renovation, a move, or major improvements, these aren’t small numbers. When clients plan a major home renovation, they’re typically very methodical—getting multiple quotes, selecting contractors, and mapping out timelines. Our job is to shield them not just from potential market declines, but also from feeling bad about spending their portfolio on things they’ve adequately planned for.
If the market drops and clients still need to pull money for that planned renovation, they shouldn’t second-guess their decision. That’s where proper cash-flow planning makes all the difference.
Cash Flow for Working Professionals
For clients who are still working, the cash-flow conversation takes a different shape. These individuals face the same categories (taxes, travel, home expenses, college costs, and general family needs), but for many of my families, they’re working with active income that’s often irregular.
Take my attorney clients. They might receive quarterly compensation based on billings from two quarters ago. Or consider physicians with bonus structures, business owners with seasonal income, or executives with significant variable compensation. The income arrives in chunks, not steady paychecks.
I recently worked with an attorney who exemplifies this challenge. She wanted to do a major home renovation but wasn’t sure how to coordinate it with her irregular income pattern. Instead of hoping she’d have enough money somewhere to pay for it, we created a visual spreadsheet.
First, we determined how much she needed to save each year for retirement. Then we looked at what money would be left over. Could she afford both the renovation and everything else she wanted to do? We decided to accumulate the renovation funds first, rather than starting the project and figuring out payment later.
This approach revealed something interesting: once clients get into a rhythm of regular savings and strategic planning, they become more comfortable with maintaining lower bank balances. They’re not holding on to cash “just in case” because they know what’s coming.
The Thread That Connects Everything
The one trait that runs through all my clients, regardless of their profession, is a sense of responsibility. They want to make thoughtful decisions. They appreciate being guided through the process, having a thought partner who helps keep their choices aligned with both short-term needs and long-term goals.
They also value accountability. Life gets busy, and they don’t want to make poor choices simply because they lack time to think through every financial decision. They view our regular check-ins as helpful guidance, not intrusive oversight.
The Lasting Value of Cash-Flow Planning
Cash-flow planning isn’t glamorous. It doesn’t generate impressive performance charts or dramatic headlines about tax savings. But for wealthy families, it’s one of the most valuable services we provide. It’s the foundation that allows everything else—the investments, the estate planning, the charitable giving—to work smoothly.
When your cash flow is intentional and well-coordinated, your wealth becomes a tool that supports your life, rather than a source of constant decision-making and stress.
If you’d like a partner to help map out when and how your money should move so it consistently supports your goals, let’s start a conversation. Call (317) 469-2455, email ssteel@deerfieldfa.com, or use my online calendar to schedule a meeting and learn more about how to live your Wealthwhile®. See what my clients have to say about working with me here.
About Susie
Susie Steel is COO, Wealth Manager, and Senior Shareholder at Deerfield Financial Advisors, a fee-only financial advisory and wealth management firm with offices in Indianapolis and Chicago. With over three decades of experience in financial planning, Susie’s approach has always been rooted in a spirit of service, treating each client as an extension of her own family. She simplifies the complex for clients, with the goal of creating a calm, trusting, and nurturing environment. Her unwavering commitment to the principle of “To whom much is given, much will be required” serves as the driving force behind her dedication, diligence, and empathy.
Susie obtained a business management degree from Ball State University, holds the CERTIFIED FINANCIAL PLANNER® designation, and held the Accredited Estate Planner (AEP®) designation from the National Association of Estate Planners & Councils (NAEPC) from 2013 to 2018. Susie is actively involved with an extensive list of professional organizations, including NAPFA (The National Association of Personal Financial Advisors), a premier association of fee-only financial advisors, and has served on multiple boards, committees, and councils. Her consistent recognition as one of Indianapolis Monthly’s “Five Star Wealth Managers” for the past decade attests to her outstanding accomplishments (2009-2025).
Outside the professional realm, Susie has contributed to her community through numerous efforts including her involvement in the Financial Center First Credit Union (FCFCU), the Indianapolis Children’s Museum Planned Giving Council, the Kiwanis Club of Northwest Indianapolis, and Junior Achievement. She mentors women through the CFP® Board’s “WIN-to-WIN” program, embodies the spirit of Rotary Club of Carmel, advocates for Indiana Canine Assistant Network (ICAN), and actively serves on the board of the Mary Rigg Neighborhood Center (MRNC).
Susie and her husband, Kevin, reside in Carmel, Indiana, where they raised their three children. Outside the office, her focus centers around family, spirituality, and fostering meaningful connections. Embracing the concept of the body as a temple, her personal growth is nurtured through practices like strength training, yoga, and meditation. In her leisure time, she enjoys strolls with her dog, Lulu, and indulges in movies, podcasts, books, and the theater. To connect with Susie online, follow her on LinkedIn or Facebook.
