People react differently to similar situations regarding money. Money is one of the most emotional issues in any relationship, and it can often be an uncomfortable topic that is frequently avoided. Learning to communicate and have an open dialogue about your financial goals and attitudes towards money with your family is a very critical step in creating a meaningful and successful financial plan.
Creating a financial plan and revisiting it on a regular basis is key to building a sound financial future, especially in today’s complex and fast-paced world where we are faced with a bewildering array of choices.
A financial plan should be more than just your investments. It should include your goals, wishes, and future plans. If something were to happen to you or a loved one today would you or your parents, spouse, or child know where to turn?
Not only is your financial plan an important thing to discuss with your family, but it is also important to have a trusted financial advisor on your side. By working with a financial advisor, you can create a flexible plan and have someone to hold either you or your loved one’s hand should anything happen.
There are also multiple facets to a financial plan from insurance, savings, investments, tax, retirement, business, and estate planning. As you go through life, some financial goals will become more important than others and some may change all together. A divorce, death, remarriage, children, caring for aging parents, or loss of employment are just some of many situations that can drastically change your financial circumstances. This is another reason it is crucial to work with an advisor to be able to revisit and adapt your plan should you find yourself in one of these situations.
At Struble and Company Financial Life Planners, we have conversations with you and get to know the details of your story, and apply our tools to help with your financial plans. We talk about how we do business, how we are compensated, and the options available for your situation that are suitable for your specific risk tolerance and goals.
A financial plan is as good as the effort you put into it. A long-term relationship with a trusted advisor is important and necessary to discover your needs and wants, and to be able to adapt them as life changes. Our team cares about your success, if you are interested in starting your financial life plan today please give our office a call at 931-410-3030 to start the discussion.