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

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

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

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

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

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

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

7. If desired,
develop
dla
schedule for
funding an
education
savings
account.

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

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

10. Determine when you should
begin taking social security.
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11. Analyze the value of
l h l f
refinancing your
mortgage.

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

13. Develop a method
for determining the
f dt i i th
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
Construct a schedule and plan
to consistently monitor your
financial circumstances.

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