What is Financial Planning?
Done right, financial planning is a process that helps you figure out where you are financially today and where you want to be in the future, and then helps you determine the best way to get there. It involves an in-depth review of a client’s current financial situation and then the creation of a blueprint on how to achieve future goals and objectives.
Financial planning is a systematic process for identifying, reviewing, and implementing strategies to help protect as well as grow your personal wealth. An important benefit of financial planning is the taking of action. This action of planning with a professional can often increase your financial confidence as well as the potential for desired results.
Done right, financial planning is a process that helps you figure out where you are financially today and where you want to be in the future, and then helps you determine the best way to get there. The process involves an initial in-depth diagnosis (review) of a client’s current financial situation and then the creation of a treatment plan (blueprint) on how to achieve future goals and objectives. The process can be specific to one goal, like Retirement, or comprehensive and include multiple goals like college, major purchase, estate, insurance etc.). As a fee only Independent Register Investment Advisor, I adhere to the philosophy that unbiased advise is the best advise. The financial-planning process has several distinct steps. Click here to check out the Four Simple Steps I use for Retirement Plan Rx.
A. Personal financial planning is the development and implementation of comprehensive plans for achieving your overall financial objectives. Some of these objectives might include: purchasing a home, preparing for your children’s college education, starting your own business, providing financial protection for family members in the event of death or disability, planning for your retirement, or planning for your estate.
Financial planning is determining the best way to achieve financial success. Whether you want to buy a house, send your kids to college, save for retirement, or take that trip of a lifetime, having a plan is the first step to getting there. Read our case studies to see how Robert A. Mecca & Associates LLC has helped people like you reach their financial goals.
