Everyone can benefit from financial planning. 50 years ago people’s financial lives were simple. There was one kind of mortgage, you had a savings account, there were no credit cards and if you wanted to buy a stock, you paid an 8% commission. Today the financial choices in our lives are overwhelming.
Everyone needs to have a plan. And you need a backup plan.
Most individuals do not have a plan of any kind for their future. When working on your financial plan, you need to be looking at the big picture. Life happens and we react to the everyday things that come up without realizing how the decisions will affect us in five, 10, or 20 years.
The financial planning process can easily be broken down into five simple steps.What do you want? These are your goals. What have you got? This is your net worth. Saving and investing to get what you want Managing the obstacles you will encounter along the way Protecting the people you love and the assets you have accumulated
Let’s start with what you want, the first step. The big picture here "
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