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Financial Planning The planning process begins with the collection of your personal financial data. Data collection provides us with an opportunity to learn of your tolerance for risk, your investment priorities, your concern for your family and other, often unspoken, feelings which may involve your financial matters. What follows is an orderly review of your balance sheet, a snapshot in time of your financial position, and your income/expense statement, your individual profit/loss picture or cash flow statement. Goal Setting The Goal Setting element is often a major turning point for many
clients. It focuses on setting attainable goals for the near term and for the
future…and in finding strategies to help balance what can seem to be
conflicting goals. An additional purpose
of goal setting is to be sure that, as your advisor, we understand your
priorities and values rather than imposing our own. This aspect of the plan puts focus on what
truly is important to you. Cash Management A cash flow analysis is an essential element of any funding program.
In the process, we are trying to uncover opportunities to improve the rate of
savings to obtain your objectives. A
positive cash flow will provide confirmation of the “reasonableness” of the financial
goals. Record Keeping Many people waste a lot of time and money by not having a good record keeping system. In this phase of the plan we will review the record keeping tools available to you and help you implement a system that saves time, reduces headaches and maximizes tax savings. |