Creating and implementing your personal financial plan effectively means paying close attention to three distinct phases. We liken it to designing, constructing and maintaining a house.
CREATE THE BLUEPRINT Just like blueprints for a house, your personal financial plan begins with listening to you and clarifying your objectives, values and priorities. Ensuring a current lifestyle, making work optional, providing retirement income, and passing on wealth to heirs are common goals. An effective plan involves considering both qualitative and quantitative factors, such as net worth, sources of income, anticipated expenses, past investment experiences and risk tolerance.
We will help you:
Gain perspective by considering the “big picture”
Create a clear image of your financial strengths and weaknesses
Focus on what is most important by asking the right questions
BUILD THE FOUNDATION (OR “REINFORCE”)
Whether you are starting a new plan or need a fresh perspective on your current one, ensuring your plan has a firm foundation is vital before building on top of it. Wealth management strategies and techniques need to be chosen in light of market behavior, the economic environment and your life circumstances. Common considerations include risk management, retirement strategies, income distribution techniques, tax mitigation, and estate and charitable planning.
We will help you:
Outline steps you can take to achieve your financial goals
Develop a schedule for implementation
Take action when you are ready
UPDATE, IMPROVE, REPAIR Just as your home needs to grow, change and adapt to the various stages in your life, so to does your financial plan. Regular reviews will help you stay in touch with your objectives. Together, we will monitor your progress to determine if adjustments to your plan are needed. New opportunities can be considered, often arising from changes in the economy or tax laws. Unanticipated developments such as a new career path or health concerns may impact your original plan and be cause for action.
We will help you:
Gain knowledge in all areas relevant to your finances
Increase your confidence in the plan you have chosen