Six Areas of financial planning
Financial Position
Investment Planning
Financial Position
- Know your current net worth
- Track your current income and expenses
- Manage debt
- Project your current net worth, income and expenses
Risk Management
Investment Planning
Financial Position
- Provide for survivors in case of premature death
- Replace earning power if disabled
- Protect your ability to meet your accumulation and education goals
- Guard against unforeseen liabilities
Investment Planning
Investment Planning
Investment Planning
- Create and maintain an adequate cash reserve
- Provide for education expenses
- Purchase a house or vacation home
- Review your investment portfolio
- Determine asset allocation and diversification
Tax Management
Retirement Planning
Retirement Planning
- Minimize federal and state income taxes
- Project future income tax liabilities
- Develop long term tax planning strategies
Retirement Planning
Retirement Planning
Retirement Planning
- Ensure adequate retirement income:
- Project the impact of an early retirement
- Utilize strategies for pensions and other qualified plans
Estate Planning
Retirement Planning
Estate Planning
- Determine exposure to estate and inheritance taxes
- Outline appropriate estate planning vehicles
- Take care of loved ones
- Review potential tax benefits related to estate planning