Our financial planning services revolve around your goals and your dreams. We work with you to create a personalized plan based on your unique situation.
A financial plan should be:
A financial plan should be:
- Tailored to your specific needs
- Based on S.M.A.R.T. goals
- Realistic based on your financial situation
- Easy for you to follow
- Reviewed regularly to evaluate your progress and to make adjustments as your life changes
What are S.M.A.R.T Goals?
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S - Specific
M - Measurable A - Attainable R - Results-Oriented T - Time-Phased |
A S.M.A.R.T. goal is something that is specific enough that there is no doubt what the standards of performance are and what steps need to be taken.
The goal needs to be something where you can measure your progress toward your goal and know exactly when you have reached it. It is not enough to say that you want to retire with a similar lifestyle to what you have today. You need to know exactly how much money you will need in today's dollars to reach a specific dollar amount in future dollars when you retire. An attainable goal is realistic. It needs to be more than just a dream based on ideal circumstances. Your goal should allow for reality where there are both usual and unusual expenses. Your goals should focus on the results you want to achieve. Setting out the smaller steps you need to take to achieve the goal helps you see the how each small step creates a result that gets you to the goal. A goal is a dream with a deadline. The deadline is what makes the difference and inspires us to take action. Your goals should have a specific beginning and end. Knowing that you will retire some day may inspire you to put a few dollars away each year. Knowing that you want to retire in 10 or 15 years and knowing how much you need to save if you start today is far more likely to keep you on track with your spending and your saving. |
Comprehensive Financial Planning is More Than Retirement Planning
Although we most often think of retirement planning when we think of financial planning a comprehensive financial plan should consider all of your financial goals and techniques for protecting your assets in the case of unexpected events.
Your financial plan should consider any significant purchases you would like to make in the future. Saving for regular vacations, college education and buying a home should all be included in your plan.
A good financial plan does not just consider what you need to save and how you need to invest. A comprehensive plan will help you to manage debt and cash flow; protect your assets and your income; and, evaluate the likelihood that you will achieve your goals given your particular circumstances and preferences.
Once you have a plan in place it is important to track your progress and review the plan regularly. We recommend reviewing your plan annually or any time you experience significant life changes.
Your financial plan should consider any significant purchases you would like to make in the future. Saving for regular vacations, college education and buying a home should all be included in your plan.
A good financial plan does not just consider what you need to save and how you need to invest. A comprehensive plan will help you to manage debt and cash flow; protect your assets and your income; and, evaluate the likelihood that you will achieve your goals given your particular circumstances and preferences.
Once you have a plan in place it is important to track your progress and review the plan regularly. We recommend reviewing your plan annually or any time you experience significant life changes.