We all know January as a time for fresh starts, new goals, and renewed motivation. New Year’s resolutions usually lead people to purchase gym memberships, pledge to read more, or spend more time with family and friends, but have you thought about making your finances a priority in the coming year?
This is the perfect time of year to focus on your financial situation and get on track with your financial plan for the future.
Why Do You Need a Financial Plan?
Why do we create strategies and plans for our lives? Normally, it’s so we have something to aim for, something to keep in the forefront of our minds as we work towards our goals. A financial plan incorporates immediate and long-term goals to transition you from where you are today to where you want to be in the days to come. If you don’t plan, it’s like you are shooting at a target blindfolded. Having a plan will help you get on track for your retirement so you can focus on today instead of worrying about tomorrow.
A Plan to Increase Wealth
Did you know that while approximately 96% of pre-retirees and 89% of retirees are concerned about their financial future, only 50% meet with a financial advisor to discuss their situation? (1) Meeting with an advisor doesn’t only give you confidence and peace of mind, it provides real results! The data presented in an HSBC study on the future of retirement shows us that those who created a financial plan amassed nearly 250% more retirement savings than those without a plan. (2) Are you convinced yet?
Take Care of the Details
Furthermore, having an advisor on your financial support team means that you also have someone to take care of details that might go overlooked, such as tax issues, health care, or estate planning. You may think you don’t have enough money to benefit from having a financial advisor, but those who plan for their financial future are more prepared for their retirement, and this is true regardless of what you make. (3)
So, what does a financial plan include?
Your Financial Plan
Do you know what a financial plan entails? It involves much more than just investing in an IRA. When we sit down to assess your individual needs, here are some questions we will answer:
- Are you on track for retirement?
- Could you benefit from estate planning?
- Do you have adequate insurance coverage?
- Is there too much risk in your portfolio?
- Are you paying too much in fees?
- Have you considered succession planning for your business?
- Are there easy ways to reach your goals faster?
We look at the whole picture to ensure that your financial health is top-notch. Don’t be part of the majority who worries about their financial future, but instead, make this the year that your finances thrive.
Your first step to a secure financial future is to make a plan. If you know that you need to take control of your finances, make an appointment now by calling my office at 770.249.7424 or emailing me at firstname.lastname@example.org.