What is aWhat is a financial planfinancial plan and why doand why do you need one?you need one?

f l lA financial plan is a personalizedpersonalized comprehensive strategy for accomplishing your financial goalsfinancial goals.

Investors with financial plans have twice as much in savings andmuch in savings and investments as investors without

lplans.

The first step is to pidentify your current fi i l i ifinancial position including constructingincluding constructing a net worth statement and budget.

Short, medium, andShort, medium, and long term financial goals must then be made clearmade clear.

Identify variablesIdentify variables such as inflation, life ,expectancy, rates of

dreturn, and spending levelsspending levels.

If desired, d ldevelop a schedule forschedule for funding an education savingssavings account.

Identify life, disability, l dlong-term care, and liability insuranceliability insurance needs and purchase policies without paying commissionspaying commissions.

Align your estateAlign your estate planning documents p gto transfer your

h lestate while minimizing taxesminimizing taxes.

Determine when you shouldDetermine when you should begin taking social security. g g y

l h l fAnalyze the value of refinancing yourrefinancing your mortgage.

Identify an asset

Cashallocation between stocks

StocksBonds

between stocks, bonds, and cash Bonds

that represents i kyour risk

tolerance.tolerance.

Develop a method f d t i i thfor determining the quality of your currentquality of your current investments and evaluating alternatives.

Write down an investmentWrite down an investment policy statement defining rules concerning what and when to buyand when to buy and sell.

Construct a schedule and planConstruct a schedule and plan to consistently monitor your financial circumstances.

Invest in your future by developing a financial plandeveloping a financial plan. Call 801-566-0740 today for ya free consultation.