January 2, 2018

Investments: Time To Get A Plan

The pace and complexity of managing modern finances may leave some people unprepared to achieve a successful financial future. If you’re feeling less than confident about your future, having a well -prepared financial plan will help put you in control. Consider partnering with a financial advisor who has the experience to help you create a plan that strategically addresses your unique goals and needs.

Get organized
Financial planning pulls all your finances together, organizing them and making management easy and effective. The more you understand, the more prepared you’ll be to achieve your goals and dreams.

What your financial plan should include:
An effective financial plan covers your current and future financial needs. Spend time with a financial advisor to consider your options, define your goals, and evaluate your resources. Here are some common areas to consider when planning your financial future:

Monthly budget
Addressing your monthly budget is an important first step in successfully managing your overall finances. Failing to have a clear picture of your regular recurring bills and expenses can dramatically reduce your ability to meet future financial objectives.

Fundamental to building a secure, manageable future is saving for the unexpected as well as the expected. Saving is easier if you “pay yourself first” and build automatic savings into your budget.

Risk management
Risk takes many forms: illness, accident, liability, and natural disasters, to name a few. Smart financial planning evaluates the various levels and types of insurance you should carry to align with your overall goals and needs. In many cases, insurance can also be used as an alternative revenue stream and a hedge against inflation.

Education funding
The costs of education for children and grandchildren can be staggering. Education is often one of the largest expenses you’ll incur. Arm yourself with current information about the variety of proactive education savings vehicles that can help you plan your funding goals while managing exposure to big surprises or long-term debt.

Retirement planning
Social Security benefits, employer-sponsored plans, and personal retirement savings typically combine to comprise the retirement income of most Americans. Deciding which retirement choices will serve you best can be daunting, but your financial professional can guide you to the options that will support and enhance your overall investment and tax strategies.

Estate planning
Your legacy is in your hands. Only through diligent monitoring can you be assured that your assets will be transferred according to your wishes. Establishing trusts, regularly reviewing your legal documents and beneficiary designations, and examining tax implications for survivors are vital to establishing a plan that provides you and your loved ones with greater confidence and security.

Getting started
Schedule an appointment with a financial advisor to begin the process.The more information you can provide the better. Even if you drop off a box of financial records, that’s often enough for your advisor to start creating a customized financial plan. Once your plan has been created, you and your advisor will review it regularly to help you stay on track. As your life evolves, so will your financial situation. A financial advisor will strategize with you to address these changes and keep you on the path to financial success. To set up a free, no-obligation financial review call

Investments: Time To Get A Plan

(616) 234-6358 today!