Thursday, May 18, 2017

Examine Your Entire Financial Life

Many investors do well at pieces of their overall financial plan, however the value of a qualified planner is they help individuals evaluate their entire financial life. Here are two resources that may help broaden the scope of what you consider when planning your financial life:

 1. Fidelity Wealth Planning Overview - This document lists many areas of an individual's financial life and asks a series of questions in each area to make sure that individuals are addressing all aspects of their situation.

 2. Personal Capital Retirement Smart Guide - 65 Expert Tips -- This guide splits your financial life into five main areas that you should consider when planning your financial life:
1. Taking stock – understand where you are currently
2. Planning – tackle some clever retirement planning steps now
3. Saving – discover the secrets to smart saving
4. Investing – learn investment tips from retirement experts
5. Thriving – tap into some tips on loving your retirement

Please review these documents to make sure you are not missing some key aspects to your financial planning situation. Ignore the information that doesn't apply to your situation. Please remember to ask yourself my three favorite financial planning questions when planning:

1. Do you have a written financial plan?
2. How much cash do you need to hold to feel comfortable?
3. Before making any investment do you ask yourself: How does XYZ investment enhance my portfolio?

Please consult a qualified financial advisor before making any investment decisions. This blog is for educational purposes only and does NOT constitute individual investment advice.

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