Broker Check

Financial Planning

   Personal Financial Planning is exactly what is says; personal. Financial Planning touches almost every aspect of an individual’s or family’s life. It is beneficial for a variety of income levels.

    Financial Planning is an ongoing process for you to make sensible decisions about money that can help you achieve your goals in life. Financial planning does not only consist of investing or purchasing products, but it is a process that gives you the opportunity to work with one of our knowledgeable advisors in reviewing your financial situation, laying out a timeline of goals, and making a plan that will allow you to achieve those goals.

There are key elements to a financial plan;

  • Financial goals
  • Personal Net Worth Statement(s)
  • Cash Flow Analysis
  • Retirement Strategies
  • Comprehensive Risk Management Plan
  • Long-Term Investments
  • Tax Reduction Strategy
  • Estate Planning

Financial Goals: Financial plans are based on an individual’s or family’s defined financial goals. This can include; college funding, buying a home, starting a business, retirement, or leaving behind assets. A financial goal should be quantified and given milestones for tracking.

Personal Net Worth Statement: Asset and Liabilities that will be used to measure progress toward meeting your financial goals.

Cash Flow Analysis: Income and spending plan that determines how much can be set aside for debt repayment, savings, investing, and retirement each month

Retirement Strategy: This plan includes a strategy for achieving retirement independence from other financial priorities. This plan will include a strategy for accumulating the required retirement capital and a lifetime distribution plan.

Long-Term Investment Plan: This plan includes a customized asset allocation strategy based on your risk profile and investment objectives.

Tax Reduction Strategy: This strategy identifies ways to reduce taxes on personal income as permissible by the tax code.

Estate Planning: This process includes creating arrangements for the preservation and distribution of assets with attention to minimizing settlement costs and taxes. Review estate planning tools; wills, trusts, power of attorney, establish a guardian for living dependents, creating beneficiaries, medical directives, funeral arrangements and marital trusts.