Fee Based Financial Planning with WealthVision

You’ve probably got a wide range of short- and long-term money goals, from paying down debt to planning for retirement to building a college fund. This is where a financial plan can help. A good financial plan identifies your financial goals, organizes and prioritizes them, then outlines the steps you need to take to achieve them.

What Is a Financial Plan?

A financial plan is a comprehensive overview of your financial goals and the steps you need to take to achieve them. Since everyone’s financial situation is unique, every financial plan will look a bit different. However, almost all plans will include your financial and life goals, an analysis of the current state of your finances, projections of your future wealth and a road map to how you’ll achieve the goals you’ve set.

One of the purposes of your financial plan is to give you an idea of if you’re on track to meet your goals or if you need to make adjustments to your spending. Financial plans stretch over years, preparing you for the long term. Whether you’re looking at estate planning, savings planning or family planning, it should be in your financial plan. Through small steps, like having a monthly savings goal or investing your money, your financial plan can lead to much better preparation for your future.

Areas of Planning Analysis

Your financial planning and consulting discussions may contain at least one of the following areas of analysis.

Cash Flow / Budget Planning --- Deciding in advance how you will spend your money ensures you are making regular progress toward financial goal and keeps your plan on track. If you are dealing with debt and spending issues, we will help you set your priorities and gain control over your money.

Investment Planning (Asset Allocation) --- We can provide you with a comprehensive view of your asset allocation to help you plan your long-term goals.

Business Planning --- Receive professional advice on a variety of topics, including succession planning, entity planning, retirement plan evaluation, and cash management. We can provide helpful advice for navigating these areas.

Education Planning --- There are a variety of investment and saving vehicles specifically tailored for education that can help you work toward your funding goals, including 529 plans and Coverdell Education Saving Accounts. By starting a disciplined savings plan now, you will be in a position to address your child’s education needs in the future.

Estate Planning --- We can help beneficiaries set up estate accounts, determine date of death values, and handle asset transfer on behalf of beneficiaries. When your family is meeting the challenges that accompany the loss of a loved one, we can relieve your stress by assisting with your family’s financial matters.

Retirement Planning --- Retirement planning is the process of planning and managing your short-and long-term finances to address your financial dreams during both your working years and retired life. It involved analyzing your financial objectives, current financial position, and expected future cash flows to develop a comprehensive retirement roadmap. We can develop a plan tailored to your specific anticipated needs to help you to maintain your desired lifestyle during retirement.

Tax Planning --- For many investors, reducing tax liability is a crucial component of maximizing wealth. We can provide thoughtful tax planning recommendations to help position all elements of your financial plan to work together in a tax-efficient manner.

Risk Management Planning --- Risk can take many forms: illness, accident, liability, and natural disasters, to name a few. Failing to manage risk property can jeopardize your financial future. We’ll partner with you to make sure you have a financial plan that incorporates risk management solutions to prepare for life’s unknowns.

The financial planning process

Creating and implementing a comprehensive financial plan generally involves working with financial professionals to:

  • Develop a clear picture of your current financial situation by reviewing your income, assets, and liabilities, and evaluating your insurance coverage, your investment portfolio, your tax exposure, and your estate plan
  • Establish and prioritize financial goals and time frames for achieving these goals
  • Implement strategies that address your current financial weaknesses and build on your financial strengths
  • Choose specific products and services that are tailored to help meet your financial objectives
  • Monitor your plan, making adjustments as your goals, time frames, or circumstances change

Brochure --- LPL Wealth Management for Financial Planning

Retirement Income Analysis Report

Save more, Retire later, or Spend less. There are several options presented which might allow you to achieve your retirement objectives.

Education Funding Analysis Report

The sooner you start saving towards your education goal the more likely you will be to fund it. This report shows how well you are doing with respect to your funding needs.

Monte Carlo Analysis Report

This Monte Carlo Analysis runs multiple simulations of your financial plan against future market conditions. The result of introducing random investment volatility to the analysis produces a range of values that demonstrates how changing investment markets may impact your future plans.

Getting Started

If you want to learn more about the potential benefits of financial planning, it would be our pleasure to talk to you about how you can access your comprehensive financial picture today. Schedule your appointment to begin the process by clicking this button.

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