Where are you going?
It’s never too early to start to think about what you want out of your life. When you have goals and aspirations, as we all do, it is important to consider how you are going to finance them. Whether you are planning for your education, planning for your first home, planning to start a family, thinking about your children’s education, figuring out your own retirement, or considering how you will transfer your wealth to the next generation, a comprehensive financial plan is your map to where you want to go and how you will get there.
One of the best ways to start mapping out your financial planning strategy is to step back and look at your overall financial situation by having a comprehensive written financial plan prepared. This type of financial plan addresses all aspects of your financial affairs including cash and debt management, tax and investment planning, risk management, goal planning, and retirement and estate planning. It can help ensure you leave no stone unturned related to your financial situation and potential strategies to enhance your wealth.
A comprehensive financial plan can address the following questions:
- Can I reach my goal when I want to and maintain my desired lifestyle?
- How can I ensure I will not run out of money?
- How can I minimize the taxes I pay each year?
- Is my investment mix appropriate?
- If I were to die unexpectedly, would my family be taken care of?
- How can I protect the value of my wealth?
In many cases the key to a comprehensive financial plan is the level of customization it offers.
A customized financial plan should involve the following:
- In-depth discovery discussion
- Protection of your current finances
- Projection of your financial situation
- An action plan
Speak to us if you require more information about having a comprehensive financial plan prepared for you.
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