Plan for Financial Comfort™
Have you taken the right steps to protect your family?
- Can you save for retirement and still afford college for your children?
- Will you be able to retire comfortably with an income for life?
- Are your investments allocated and titled properly?
- Do you have a health care proxy, power of attorney and a updated will?
You work long hours, volunteer for community projects, take care of your family, juggle doctor's appointments and soccer practice. You barely have time to breathe, let alone manage, your short and long term financial goals. It's tough to get out of the cycle of living paycheck to paycheck, even when it's a good paycheck.
You want to save more and pay less taxes. You also want to start accumulating a nest egg that will help ensure the comfortable, early retirement you deserve.
Few things are more important than your financial health
and the safety and security of your family. But it's a very complex process that requires the coordination of all your financial affairs, including an analysis of net worth, projections of future net worth, tax reduction and asset allocation strategies and more. Developing adequate college funding strategies at the same time you are saving for your own retirement can be a challenge. You shouldn't have to compromise your lifestyle.
Divorce, death, job changes, marriage, childbirth...these are all life events that can impact your financial health and necessitate the need for competent and compassionate planning.
Clearly, financial planning is no longer a do-it-yourself project. It takes a lot of time and energy. A qualified professional who is devoted to your needs can provide creative solutions that will help make a significant
impact on your quality of life. You have valid questions and concerns and your financial health is too important to leave to chance.
8 Steps to Plan for your Financial Comfort
You plan vacations, shopping trips and golf outings. Have you planned for the financial health and security of your loved ones? Are assets diversified to provide safety as well as growth?
While it is impossible for individuals to avoid taxes with most investments, it is
often possible to defer taxes. Time and compounding may potentially help you meet your retirement goals.
Are all of your financial papers properly titled? Has your will been updated? With changing state and federal estate tax laws it is important to have these documents reviewed.
Deductions, exemptions and credits are all components of your tax return. Reviewing these areas for savings opportunities can have a major financial impact on the taxes you pay.
Your money should work as hard as you do. Discuss your needs as well as your time horizon and risk tolerance with your advisor to determine the appropriate investment vehicles for your needs and comfort level.
Safeguard you information by monitoring your financial accounts and billing statements carefully. Get a copy of your credit report and review it routinely. Take action against ID theft as soon as you suspect a problem.
Do you have an emergency fund? If you save 10% annually, one year of disability could wipe out 10 years of savings. Will you qualify for social security benefits? Will it be enough to cover your expenses? If you sell assets will you get a fair price? We can help you answer some of these questions.
Pay off consumer debt. Paying off high-interest debt is the first way to begin saving. When
you pay off a credit card with an interest rate of 20% you've just improved your cash flow dramatically.
If you have children, start saving now for their college education. No matter what
the child's age, steps can be taken to improve your situation. With soaring education costs, starting early with a well-planned offense can make a big impact building a fund. Strategic investments can also help put you in a better position.
Women face huge financial challenges. On average, they earn less than men but live longer. Women are more likely to leave the work place for a period of time, forfeiting wages, benefits and an opportunity for retirement saving. They are also more likely, through death or divorce, to live alone.
Caring for the physical and emotional needs of a family member with special needs can be all-consuming. Financial and estate planning can easily become neglected. We can help coordinate and implement the plan so you can properly provide for your family.
Transferring the financial risk of death, disability or long term care to an insurance company may be an appropriate alternative to safeguard you or your family from a financial disaster.
Call your IFP representative now for a consultation or email us at info@IFPadvisor.com.