16 small white piggy banks placed randomly on green surface, high angle of view

Getting Started with Financial Planning

Strategic financial planning helps you plan for your short and long-term goals and can help you prioritize your spending and investing to achieve those goals. The overall goal of financial planning is to create an ongoing process that reduces your financial stress, supports your needs, and builds a nest egg for the future. More than setting long-term goals for retirement or short-term goals, such as buying a house, financial planning encompasses a wide range of strategic personal and economic goals including, but not limited to legacy planning, family support, healthcare, insurance and charitable giving.

Financial Planning Process

  1. Define Your Goals
  2. Understand Your Current Situation
  3. Identify Steps to Move Forward

Financial Planning Checklist

  • Identify and discuss your personal and financial goals.
  • Evaluate whether you are on track to meet your goals.
  • Determine:
    • Is your spending appropriate? Are you managing your cash flow well?
    • What does financial protection mean for you?
    • What does growth look like for you?
    • Are your investments appropriate for your needs?
    • How will your portfolio be managed?
  • Implement your plan with an appropriate mix of investments to balance financial needs and priorities.
  • Schedule regular reviews to refine your plan, particularly when you experience a change in your lifestyle or personal situation.

Consider Engaging a Financial Advisor

You may think you can go at it alone, but just as you should bring in an electrician for electrical work on your house, you may want to engage a financial advisor to assist in your financial planning needs. A financial advisor can help you see your whole financial picture: today, tomorrow, and in the future. They can also identify other areas that may help you to reach your goals such as estate planning, tax strategy and insurance.

Financial planning can help you prioritize your goals, guide your decision-making and help you secure a future for you and your loved ones. If you are ready to take the next step towards a secure financial future, contact our Wealth Management Team today.

Contact Us

Timothy Hole

Timothy Hole

Senior Financial Advisor
Connect with Tim

Related posts
Family Business Legacy Planning

The Family Business: Leaving a Legacy

Examining opportunities for family business owners to leave legacies for their families through estate planning…

Read More
Managing Your Illiquid Wealth

What About My Business Assets? A Guide to Helping Business Owners Manage Their Illiquid Wealth

Business owners should examine their business from an investment perspective and consider valuation, insurance, estate…

Read More