Financial Planning

Running out of money in retirement is brutal. The financial planning process guides clients to realistic and attainable goals and creates a road map to achieving those goals. Critically, the map identifies the hazards that, if not avoided, can reduce your lifestyle or make retirement unobtainable.

Financial Planning:

Formulate a realistic plan of action
Determine what resources are needed and available
Identify risks and contingencies
Enhance control of your financial destiny
Facilitate better strategic decisions
Provide an ongoing process of planning, feedback, evaluation, and course correction
Emphasize measurable goals that provide guideposts for financial action
Increase the likelihood that your goals will be achieved

The planning process generally follows these steps:

Identifying financial goals and differentiating them between needs and wants
Common goals include a comfortable retirement, educating children, a second home and travel
Collection of the relevant information, financial and otherwise
Analysis of the data and the goals to determine feasible courses of action
Selection of the most appropriate strategies
Specifying detailed implementation targets and action items
Monitoring and measuring the implementation
Modifying actions and targets as needed over time

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