What Are The Steps In Financial Planning

What Are The Steps In Financial Planning – Financial planning is the process of achieving your life goals through proper financial management Life goals may include buying a home, saving for your child’s college education, or planning for retirement The financial planning process consists of six steps that help you get the “big picture” of where you are now Using these six steps, you can determine where you are now, what you may need in the future, and what you need to do to reach your goals. This process includes gathering relevant financial information, setting life goals, examining your current financial situation, and developing a strategy or plan for how you can achieve your goals based on your current situation and future plans.

There is no secret in financial planning To do this, you just need to take a personal, deep look at your goals and decide how you are going to achieve them. Once you decide what you want, you can plan from where you are today… to where you want to be tomorrow

What Are The Steps In Financial Planning

What Are The Steps In Financial Planning

During this meeting, our financial advisor will listen to your financial concerns and discuss how financial planning can help you achieve your financial goals.

Your Financial Plan

If you have decided to purchase a financial planning service, we move on to the next and most important step: gathering information Here we will learn about all or your financial goals, objectives, assets, liabilities, income, expenses and other relevant information.

A preliminary analysis of your information is being prepared This includes reviewing all of your goals and whether they are achievable

After analyzing all the options and information, you will be presented with a final plan The final plan is a written document specially prepared by our team It provides specific recommendations to help you achieve your financial goals and objectives

As your financial planner, our financial advisors will follow a personalized action plan and explain how you can act on specific recommendations in your financial plan.

Steps To Create A Financial Plan How To Build A Financial Plan?

One thing is constant in life: change Every year, and perhaps more often, your income, investments, ideas and goals will change That’s why our financial advisors are ready to monitor and update your plan as needed Your steps to financial empowerment are likely to be very personal, but when you work with us for the first time, we have a clear and simple six-step process. Here’s what you can expect as you begin your financial planning journey with Freshwater Financial Planning

Our first contact may be by phone or in person We will discuss some of the basics of your financial interests, where you would like help, describe some of the stages of financial planning, start discussing your main assets, liabilities, documents/statements of identity. Then we’ll set up some time to do a deep dive into your financial and life goals to determine what’s important to you.

In this no-obligation discovery meeting, we’ll discuss your current financial situation as well as your life and financial goals. We’ll help identify your financial strengths and weaknesses and outline potential strategies that might work for you. We will provide you with an outline of the next phase of the financial planning process and advance payment information for future work that you would like us to complete.

What Are The Steps In Financial Planning

Our next step involves an engagement meeting to discuss the various plans and any preliminary work needed to get an accurate picture before creating your individual plan. Depending on your unique situation and the complexity of your needs, we may invite you to a second meeting to discuss our findings, provide further education on strategies that are appropriate and beneficial for you. Our goal is to make sure you understand what and why we shortlist strategy options and options that are relevant to your goals.

The Benefits Of Starting A Financial Planning Business

We provide you with an official, personalized Statement of Advice and walk through each recommendation with you to better understand how each goal helps you achieve your goals and objectives. Then we allow you to read your tips at your leisure and get back to us with any additional questions.

Implementation meeting (optional) – We strongly encourage all of our clients to review our consultation and additional documentation and ask us any questions before signing our permission to proceed (allowing you to proceed with your individual consultation). Come back with questions Once completed, we will walk you through all the documents you need to complete the steps within your consultation and explain what each form or document is.

It means your goals and circumstances will change and evolve over time, and you need to make sure your strategies are aligned with your original objectives. Financial planning is a dynamic process that doesn’t end when you do something We may offer additional advice at this stage due to economic or social changes, new opportunities or changes in your circumstances Periodic reviews allow your strategy to keep pace with new financial products and services, economic, legislative and tax changes that may affect your original plan.

We found Carl to be very prompt and professional He was easy to get along with and his advice was second to none We recommend Carl

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Carl gave my wife and I advice on life and income insurance I am sure that Carl gave me the best advice so that we can choose the right insurance product He was very helpful in the application process and was always available to help explain all the details we needed to know and advise on what was best for us in our situation. Thanks Carl!

Carl has been very helpful in organizing my financial affairs in an organized way that I have direct access to online and can check at any time. He is always available and willing to help and makes an effort to explain things clearly to me as I sometimes struggle to understand the financial situation. He is happy to answer any question I have and doesn’t make me feel uncomfortable asking “silly” questions. He was recommended to me by a friend and I have recommended him to family members

Carl has been giving me financial advice for the last 3 years and I have to say, I would be lost without him Carl goes out of his way to help me when needed and takes the time to explain things clearly so I understand what decisions to make. I am looking forward to next year

What Are The Steps In Financial Planning

We will continue to offer financial planning advice in the same way as before, but under a new company name If you have any questions about this great news and what it means for you, please contact [email protected]

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Carl Freshwater (Authorised Representative No 1001097) and Freshwater Financial Planning & Advisory Services Pty Ltd ABN 86 632 775 403 Authorized Representative of Axi Pty Ltd ABN 38 136 704 446 # AFSL No 339384, Axi Pty Ltd is a subsidiary of Spark Financial Group ABN Subsidiary Company 15 621 553 786

General Advice Disclaimer: The information and advice on this web page and website are intended for general information only and may not take into account your individual goals, financial situation or needs. It is not intended to provide commercial, financial, investment, accounting, tax or legal advice Before making any decision regarding any information, strategy or product mentioned on this website, you should consult a professional financial advisor to determine whether it is appropriate for you and your personal needs and circumstances. Product Disclosure Statements and Information Memorandums contain the information needed to decide whether to invest in the financial products mentioned on this website. You should also obtain and read this document before making any decision to purchase the financial product While every effort has been made to verify the accuracy of the information contained herein, Freshwater Financial Planning and Advisory Services, its licensors, representatives and employees disclaim all liability for any errors, inaccuracies or inaccuracies (which cannot be excluded by law) contained herein. For any loss or damage caused directly or indirectly by any person as a result of errors in the information, or the use of this information. Financial planning is not valuable or considered important in itself if it is not used to achieve the ultimate planned goals Being human, it is natural for every person to have some goals, which may be rational or material However, to achieve such goals, we need to organize our efforts financially and act accordingly Just like when we think about a vacation, we have to plan the route in advance, the things to take with us, the money we need, etc.

Financial planning is not a subject or a product, but a process to achieve desired results Financial planning is the tool you need to achieve your financial goals without facing uncertainty

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