Comprehensive Financial Planning: 6 Key Areas
Financial Position
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Know your current net worth
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Track your current income & expenses
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Manage your debt
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Project your current net worth income & expenses
Adequate Protection
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Help provide for survivors in case of premature death
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Help protect a portion of income lost if disabled
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Help protect your ability to meet your accumulation goals
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Help protect your ability to pay off outstanding debt
Wealth Accumulation Strategies
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Create & maintain adequate cash reserve strategies
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Provide for education expenses
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Buy a house or vacation home
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Review your investment portfolio
Retirement Planning
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Help ensure adequate retirement income
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Government benefits
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Employee benefit plans
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Personal savings & investments
Tax Reduction Strategies
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Help Minimize federal & state income taxes
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Help protect against future income tax liabilities
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Help develop long term tax reduction strategies
Estate Planning
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Determine Exposures to estate & inheritance taxes
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Outline appropriate estate planning vehicles