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Financial Planning

If you have financial goals for your future, such as retiring early, investing in a business, or providing for your loved ones, you need a financial plan. Most people equate financial planning with preparing for retirement or budgeting. But the financial planning process includes a lot more. Think of it as a roadmap for your money that allows you to work towards the financial future you’ve dreamed of.

Financial planning includes such dry topics as tax and insurance planning, because both are important for wealth building and retention. It’s useful during retirement when you have to turn your investments into reliable income streams. And it carries over to the next generation with your estate plan.

What Are Examples of Financial Planning?

If it has to do with money or insurance, it’s probably a part of financial planning. A financial plan is necessary to build and protect your wealth. For example, having the right insurance policies protects you, your loved ones, and your financial assets. Similarly, the financial planning process must consider your tax obligations to maximize your take-home earnings.

Here are some examples of what financial planning includes:

  • Tax planning
  • Estate planning
  • Insurance planning
  • Cash-flow management
  • Retirement planning
  • Retirement income distribution
  • Investing
  • Building generational wealth
  • Providing for your dependents

These areas are important to help you build wealth. Your financial plan can and will change over the course of your life, with the emphasis shifting from investments and insurance to estate and retirement planning. Once we create your financial plan, we recommend reviewing it periodically to ensure you’re still on track for your goals.

A Roadmap for Your Financial Future

A Roadmap for Your Financial Future

Your financial plan is like a roadmap for your financial future. As you adjust to new circumstances, we update your financial plan to fit your new goals and lifestyle. When we meet with you, we’ll analyze your financial situation in depth and talk about your objectives.

Maybe you want to save for a house, put the kids through college, ensure you take care of your dependents, retire early, or take a year off and travel the world. Whatever it is, we know you need a financial plan to help you get there. And that’s what financial planning is all about.

We can help you with cash-flow management to help you prioritize your investment goals. We can also support your charitable giving by including it in our tax planning. This allows you to support your favorite causes while reducing your income taxes.

Frequently Asked Questions

Should I Have a Financial Plan?

If you want to build or preserve wealth, you need a comprehensive financial plan to reach those goals. Otherwise, you may continue living paycheck to paycheck or hope your retirement account at work will perform well enough to allow you to have the lifestyle you want. If you don’t use tax planning, there’s a good chance you’re leaving money on the table. And without insurance, everything you’ve worked for is at risk.

What Does the Financial Planning Process Look Like?

The first step is to meet with one of our financial advisors and talk about you. We want to get to know you and understand your family situation and what you need help with. Then we’ll look at your income, expenses, assets, and debts to get a snapshot of your current financial status. That’s the starting point. And now the fun begins. We’ll talk about your goals and dreams and wealth-building timelines. With our help, you’ll be on the path towards reaching your financial goals.

How Can a Financial Advisor Help Me?

Our financial advisors have the knowledge and experience to help you identify opportunities for your wealth. We can identify risks that keep you from building or keeping wealth and help you prevent them. Our specialty is creating a strategic, comprehensive plan that will cover every area of your finances and give you the best chance of success.

Have other questions?

Have other questions?

Financial planning can be a complex process, but you don’t have to do this alone.  If you have any questions that were not addressed here, I would love to hear from you. No question is too small. Just send me a message.