A financial plan is not just an investment account that you contribute to monthly or annually to save for the future.  It is not an idea that is just in your head and not written down somewhere. It is not a goal without knowing what the specifics are. We all have goals in our lives: to save for a home, retire early, or pay off debt. Having tangible action steps and a clear guidance system to ensure your success when we want it can be a huge step forward.

What is a financial plan?

A financial plan will take an in-depth look into your current situation and provide action steps to reach your life goals. It will include a look at your cash flow, goals, risks, investments, and insurance, and provide an all-encompassing plan to ensure each part is taken into consideration.  The plan will be adapted as aspects of your life change and provide suggestions or alternative paths to reach your goals.

Why do I need one?

A financial plan will show you today how on track you are to reach your goals so that you can make adjustments as needed. Investing money regularly is great, but do you know if you are on track to meet your goal? Do you know how long it will take you? Do you know what could happen if you lose your job? A plan will provide answers to all of these questions so you can be confident that you are making the right steps today. Having your plan broken down into steps and crossing those steps off of your list will provide you with the assurance that you can achieve your goals.  

Who needs one?

Everyone should have a financial plan no matter their age, status, or goals. Everyone will have different goals, depending on their life stage. With each life stage, your goals might change slightly or be removed. If you are just starting out or have been investing for years, a plan can be adapted continuously to meet your needs.

How can it help me?

A financial plan will provide you with actionable steps that you can take today to reach your goals. The plan will also show you, based on your current situation, if you will or will not reach your goal, and it will point out adjustments that need to be made to reach your goals within specific time frames.  Having this information earlier will ensure that you can make small changes now, rather than large changes later.

Ask yourself this: for all of your goals, do you know when you will achieve them? Do you know how much you need to do it? Do you know what you can change to achieve it? These are just some of the questions that a financial plan can help you with. Don’t delay in making a financial plan; small changes today are much easier than huge sacrifices later in life. Talk to me today about options to get a financial plan that is right for you.