DESIGNING A WELL-ROUNDED FINANCIAL PLAN

When it comes to investing for your future, the best place to start is by creating a plan.  A well-rounded financial plan is so much more than just saving money for retirement.  It allows you to identify and mitigate possible vulnerabilities to your overall success.  Developing such a plan begins with examining your Total Financial Picture.  These are the main areas that you and your advisor should be focusing on.  The components of your Total Financial Picture include:

CURRENT FINANCIAL POSITION:

  • Current Income & Expenses
  • Debt, Net Worth & Emergency Cash

PROTECTION PLANNING:

  • Protecting against life events such as:
    • Job-loss, Divorce, Disability, Unexpected Medical Expenses and Death
  • Protecting against market down-turns, inflation $ potential tax increases

TAX STRATEGIES:

  • Minimizing Federal, State & Municipal taxes
  • Implementing tax-favored investments

RETIREMENT PLANNING:

  • Evaluating income and expenses in retirement
  • Coordinating with Social Security and other pensions
  • Growing and protecting retirement assets
  • Planning for inflation, potential tax increases & medical expenses

ESTATE PLANNING:

  • Minimizing estate taxes
  • Transferring assets efficiently to beneficiaries
  • Avoiding Probate to minimize costs and headaches

INVESTMENT PLANNING:

    • Determine comfort levels with risk
    • Designing a well-diversified portfolio with added layers of safety
    • Monitoring investments daily to mitigate losses and maintain proper allocations

“All you need is the plan, the road map, and the courage to press on to your destination.”

-Earl Nightingale

Creating a financial strategy is the map to your financial destination.   Wealth Watch Advisors can help you design a well-rounded plan that will assist you in achieving your goals.