“You need to plan to build a house. To build a life, it is even more important to have a plan or goal.” -Zig Ziglar
Financial Planning – the exercise of creating a strategy for maximizing one’s resources to achieve one’s financial goals.
This exercise is critical for true success, regardless of where you are in life as without a plan, it is increasingly difficult to achieve your next desired level. As such, there are generally 4 conversations that occur during the financial planning process:
Stage in Life
- Risk Management – preparing for the uncertainties in life (death, disability, unemployment….)
- Accumulation – Saving for any future goal (ie college, house, retirement, generational giving)
- Distribution – Receiving the benefit of accumulated assets in a tax efficient manner and for the duration needed (ie self created pension, retirement expenses)
- Transfer – maximizing the assets that our heirs receive through proper estate set up
The results of these conversations are 1) established goals, 2) a plan to achieve them and 3) implementation of the plan for attaining the goals.
At Allgen, we have these conversations with you to identify 1) where you are in life, 2) what are your personal or business goals and 3) what are some of the best ways to get there.
We invite you to have this conversation and increase your odds of success.