The Six Areas of Financial Planning

1. Income Allocation
Where does your money come from and where does it go?
– Savings and Investments
– Fixed Expenses
– Variable Expenses

2. Risk Management
What risks are you exposed to that could sink your financial ship? Risk management addresses insurance issues.

3. Investing for Wealth Accumulation
Save money for specific goals, on purpose and make informed decisions. These investments tend to be known as non-qualified monies. They are usually after tax investment dollars.

4. Tax Planning
The govenment is in partnership with you. Review and understand your 1040 return. Know that we have two tax systems: The income tax and the estate & gift tax.

5. Retirement Planning
Build net worth through systematic savings and invest it wisely. These dollars are referred to as qualified money since they are usually in a qualified retirement plan.

6. Estate Planning
How your estate passes can be in your control. It is important to understand how title affects ownership and the rights of a beneficiary designation. Address guardianship issues for young children. Which estate planning documents should you have? Plan for the worst case scenario and you’ll find peace of mind.Keep your personal banking, budgeting, mortgage, insurance, credit, investment, tax and estate planning information in one convenient location. Learn how to set and reach your financial goals.


Next — Your Master Plan

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