What is a financial plan and why do you need one?

1. What is a
financial plan
and why do
you need one?

2. A financial plan is a
personalized
comprehensive strategy
for accomplishing your
financial goals.

3. Investors with
financial plans have
twice as much in
savings and
investments as
investors without
plans.

4. The first step is to
identify your current
financial position
including
constructing a net
worth statement and
budget.

5. Short, medium, and
long term financial
goals must then be
made clear.

6. Identify variables
such as
inflation, life
expectancy, rates
of return, and
spending levels.

7. If
desired, develo
p a schedule
for funding an
education
savings
account.

8. Identify
life, disability, long-
term care, and
liability insurance
needs and purchase
policies without
paying commissions.

9. Align your estate
planning
documents to
transfer your estate
while minimizing
taxes.

10. Determine when you should
begin taking social security.

11. Analyze the value of
refinancing your
mortgage.

12. Identify an asset
allocation
Cash
between
Stocks
stocks, bonds, a
Bonds
nd cash that
represents your
risk tolerance.

13. Develop a method
for determining the
quality of your current
investments and
evaluating alternatives.

14. Write down an investment
policy statement defining
rules concerning what
and when to buy
and sell.

15. Construct a schedule and plan
to consistently monitor your
financial circumstances.

16. Invest in your future
by developing a financial
plan. Call 801-566-0740
today for a free
consultation.