Build a Financial Plan for Your Future

Uncertainty. Nobody has a crystal ball, and nobody can say with exact confidence what will happen next. Financial planning can stress-test your current financial position against unforeseen events like ill health, job loss, or receiving an unaffordable large bill. Having a financial plan is like having a map with different routes to a single destination. Without the map, you may wander aimlessly for years without making any progress toward that destination. That can be a significant drain on time and resources. With the map in place and regular reviews of your progress, you can enjoy a successful journey and peace of mind, knowing you were in control all along.

No. Budgeting is a key component of financial planning, but budgeting alone will not assess your financial situation for important events during your lifetime. We hope that everyone we meet can budget, as that makes our job a little easier. However, knowing what to spend on financial events is critical. Otherwise, you may reach a significant point in your life and realize that the budget you set initially was incorrect and that you needed to allocate more money to a specific fund. Financial planning can outline your life events, assess those events for monetary amounts, and then allocate the appropriate part of your budget to achieving those life goals. Budgeting is a key component of financial planning, but budgeting alone will not assess your financial situation for important events during your lifetime. We hope that everyone we meet can budget, as that makes our job a little easier. However, knowing what to spend on financial events is critical. Otherwise, you may reach a significant point in your life and realize that the budget you set initially was incorrect and that you needed to allocate more money to a specific fund. Financial planning can outline your life events, assess those events for monetary amounts, and then allocate the appropriate part of your budget to achieving those life goals.

Amazing! You’re in the lower percentage of the population who have an employer you can rely on, for now. But what if you are let go? What if the company is acquired, and you are no longer needed? What if the company overreaches, takes on risk, and eventually folds? What if the job becomes unfulfilling and you want to leave? Always prepare to be financially equipped to not depend on your employer. Any employer should be lucky to have you and reward you for being excellent at what you do. But financial freedom means having your own finances in order, reviewed periodically, and ready to tackle any unforeseen event.