Financial planning is an interactive process that generally progresses through these phases:
- Discovery: Identify and evaluate your most important financial objectives as well as potential impediments.
- Determine the Route: Evaluate what is required to close any planning gaps and decide if the desired course is viable.
- Embark on your Journey: Implement the appropriate strategies identified above.
- Stay on Course: Manage the results for the duration of your journey
Making great decisions about your wealth starts with a well thought out strategy and an understanding of your destination.
A financial plan is never static… Personal, professional, economic and tax circumstances will all evolve over time. Working with a knowledgeable and experienced planner who has access to current technologies and a thorough understanding of tax rules and financial planning techniques is important. Working with an advisor who takes the time to understand your unique desires, goals, and circumstances is critical.