A comprehensive financial plan covers every area of your financial life, from investments and real estate to insurance and retirement planning. There are a number of financial planning areas that a comprehensive financial plan may take into account:
A comprehensive financial plan covers every area of your financial life, from investments and real estate to insurance and retirement planning. There are a number of financial planning areas that a comprehensive financial plan may take into account:
Your current and projected future financial position, including cash flow (the balance of what you’re earning, spending and saving), budget and net worth.
Strategies to minimize your exposure to unexpected financial loss due to death, health issues, property damage, business and other risks.
Managing your investments based on past experience, attitudes, objectives, times horizon, risk tolerance and need for income.
A path to follow should you choose to slow down or stop work altogether. Comparing your desired retirement lifestyle with retirement assets, planned savings, expected sources of income and return on investment.
Your current and future tax obligations and strategies to minimize or defer taxation on personal and/or business income.
Estate planning includes arranging for payment of expenses and obligations after your death, as well as transfer of your wealth and other assets to successors in a tax efficient manner as specified in and outside your will.
Legal aspects cover your legal rights and obligations including, third party obligations, shareholder, partner or trust agreements, and powers of attorney or mandates.
The purpose of a financial plan is to create peace of mind and allow you to focus on the things that are most important to you. If you have addressed all of these areas that’s great! If not, then let us know below and we’ll reach out to you through your preferred method of contact.
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