Where do you want to be, and when, and how are you going to get there? The objective of a financial plan is to address these very questions.
Where do you want to be? What is it that you are trying to achieve? What are your goals and objectives?
When do you want to get there? What is your time frame? How long have you got?
How are you going to get there? What are the various routes that you can take to reach your destination? What are you prepared to do in order to get to where you want to be?
In putting together a financial plan it is important to discuss and consider those issues. While some decisions are quite straightforward in terms of which path to take, there are many instances where it is a matter of choice.
Financial planning is the process of designing and implementing a plan of action in relation to your financial affairs. Financial plans can be specific to one asset or strategy for example paying off debt or establishing a regular savings program or can be all encompassing and complex. A comprehensive financial plan addresses all areas that influence a person’s financial well-being.
The key to effective financial planning is a thorough investigation and understanding of your financial position, investment objectives and financial goals. A successful financial plan requires realistic goals and objectives and a commitment to take the necessary steps to achieve what is required.
And like most others facets of life, financial plans are likely to change. It is important to re-assess financial plans based on changes to personal circumstances or changes to investment markets. Financial planning is a fluid and dynamic process that requires your ongoing attention.
Our goal is to help you to get to where you want to be and then keep you there.