Financial Planning

Without proper financial planning, you probably feel you’re swimming upstream. It’s almost impossible to build real wealth by merely depositing money into a savings account. The current interest rates don’t even cover the cost of inflation. If you want to retire in style or fund your dreams, it’s time to ramp things up and set up the right investment accounts. You owe it to yourself and your family to take care of your finances now. There is nothing stopping you from taking charge of your financial future. 

The term financial planning encompasses pretty much anything you can think regarding your money needs through life. To get a better idea, here is a list of potential products and services a financial advisor may recommend:

• Life and long-term care insurance
• Individual retirement account, mutual funds, stocks, and bonds
• Estate planning
• Tax planning to minimize your tax burden
• Education plans to fund your kids’ college education
• Portfolio reviews to ensure your investments are performing

Your financial plans will change over the course of your life, and that’s okay. Maybe one day, you’ll establish a trust fund for your relatives, but today you just need term life insurance to protect your loved ones. Today you may work on building your retirement nest egg, but in the future, you’ll withdraw from that same fund. Your financial advisor can guide you through the process and help you manage your wealth as things change.

Financial planning can seem daunting, but it doesn’t need to be that way. With my simple 3-step process, I can help you plan, track, and pursue your financial goals. If you don’t find the answer to your question here, give me a call.

When Should I Revise My Financial Plan?

It’s a good idea to review your finances at least once a year to ensure everything is still in order. Sometimes, it may be necessary to change the financial plan. Here are some circumstances which may require you to revise the original plan:

• Retirement
• Dependents moving out on their own
• Change in employment
• Change in investment objectives (such as different retirement goal or other dream)
• Changes in the family (marital status etc.)

What Should Be Included in My Financial Plan?

I focus on tailoring your financial plan to fit your unique needs. For most people, this will include adequate insurance coverage and a retirement or other investment account. Only you can decide what you want your future to look like and how much you want to invest in yourself. I’m here to guide you and advise you on how to make the most of your finances.

How Can a Financial Advisor Help Me?

A financial advisor can help you prioritize your financial plans. For example, maybe you don’t have the means to fund college and retirement or maybe you have to decide how much life insurance to get. Your financial advisor usually has different options available to you, helping you to pursue your unique goals.