WHAT IS A FINANCIAL PLAN?
Financial planning means much more than just investing. It’s bringing all the pieces of your financial life together—from budgeting, to planning for retirement, to saving for education, to managing your taxes and your insurance coverage. A financial plan coordinates all your investment plans, from Social Security to your pension and 403b.
Coming up with a solid financial plan means doing some homework—both on your part and the part of your Financial Planner. From examining your current situation, to setting goals, to deciding how to measure your progress, a Financial Planner is qualified to take you through the financial planning process.
Regardless of your income, a Financial Planner can help you:
⋅ Calculate your net worth
⋅ Avoid financial setbacks
⋅ Deal with major life changes
⋅ Avoid debt and credit problems
⋅ Decide where to put your money
Study after study has shown that no matter one’s income or assets, those who plan financially feel more confident about their retirement and may be more prepared to face life challenges.
THE FINANCIAL PLANNING PROCESS
In six steps, you and your Financial Planner professional will:
1. Agree on how to work together
2. Gather information about your finances and set goals
3. Analyze and strategize
4. Develop recommendations
5. Put plan into motion
6. Monitor progress and stay on track
Prioritizing financial planning will help you to achieve your retirement dreams—whether they be traveling the world or retiring to a remote cabin in the mountains.