Family Relationship Management
Financial planning is the long-term process of wisely managing your finances so you can achieve your goals and dreams, while at the same time negotiating the financial barriers that inevitably arise in every stage of life. Remember, financial planning is a process, not a product.
Steps to Create a Sound Financial Plan
Step 1: Establish Goals
Step 2: Gather Data
Step 3: Analyze & Evaluate Your Financial Status
Step 4: Develop a Plan
Step 5: Implement the Plan
Step 6: Monitor the Plan & Make Necessary Adjustments
- Set realistic financial and personal goals.
- Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments and estate plan.
- Develop a realistic, comprehensive plan to meet your financial goals by addressing financial weaknesses and building on financial strengths.
- Put your plan into action and monitor its progress.
- Stay on track to meet changing goals, personal circumstances, stages of your life, products, markets and tax laws.
Making sure your assets can generate the retirement income stream you need today and keep up with the rising cost of living that inflation pressures can exert requires specialized planning.
Which income streams do you have control over? Some like Social Security and pensions are automatic. Others like distributions from your retirement and investment accounts or annuities require specific decisions as to when and how much you should take out. Some of your accounts may allow you to take an income stream for life.
Helping you plan your income in the most tax-efficient manner to meet your needs involves a well-thought-out plan to evaluate your special needs concerning risk of assets, liquidity needs for emergencies and feeling comfortable with the possible changes in your income needs, from changes in the cost of where you live to changes in the cost of your health care.
NEITHER ADVANCED RETIREMENT DESIGN NOR GLOBAL FINANCIAL PRIVATE CAPITAL MAY GIVE TAX, LEGAL OR ACCOUNTING ADVICE. INDIVIDUALS SHOULD CONSULT WITH A PROFESSIONAL SPECIALIZING IN THESE AREAS REGARDING THE APPLICABILITY OF THIS INFORMATION TO THEIR SITUATIONS.
ANY COMMENTS REGARDING SAFE AND SECURE INVESTMENTS AND GUARANTEED INCOME STREAMS REFER ONLY TO FIXED INSURANCE PRODUCTS. THEY DO NOT REFER, IN ANY WAY, TO SECURITIES OR INVESTMENT ADVISORY PRODUCTS. INSURANCE AND ANNUITY PRODUCT GUARANTEES ARE SUBJECT TO THE CLAIMS-PAYING ABILITY OF THE ISSUING COMPANY AND ARE NOT OFFERED BY GLOBAL FINANCIAL PRIVATE CAPITAL.
Have Questions for Advanced Retirement Design?
It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.