Why should you have a financial plan!
A financial plan answers three primary questions:
1. How much, when, and where should you save while you’re spending less than you earn?
2. How should your savings be invested until they’re needed?
3. How much, when, and from where will you access savings when it comes time to spend them??
How does it help?
1. It will help you define your financial goals.
2. It will help you see whether your goals are realistic, especially for your timeline.
3. It will help you see how you can bring your spending in line with your goals.
4. It will show you what money mistakes you’re currently making.
5. It will allow you to measure your progress on your goals.
6. It will help you find new ways to maximize your money.
7. It will help you identify risks you hadn’t thought of.
8. It will make you more confident with your money.
9. It will help you build wealth.
10. It will help you live more comfortably.
11. Planning can help you balance comfort and compromise.
You may want to seek help from a Certified Financial Planner™ professional if you:
• Want to better manage your finances, but aren’t sure where to start
• Don’t have time to do your own financial planning
• Want a professional opinion about the plan you’ve developed
• Don’t have sufficient expertise in certain areas such as investments, insurance, taxes or retirement planning
• Have an immediate need or unexpected life event