3 Steps to Plan for Your Financial Well-Being

3 steps to plan for financial well-beingWhether your focus is on paying off your debt or saving for your future, planning is the key to improving your financial well-being. And because everyone is unique, it is important to build a customized plan based on your specific goals.

Each step along life’s path brings meaningful change for you and your family. Finding your first job, getting married, buying a home, starting a family, giving your children the right start in life, and retirement. Where are you financially? Where do you need to be? How will you get there? The answer to all these questions is planning. We’ll help you find the answers by developing a plan tailored to your needs.

So, let’s talk planning. This simple three-step plan can help you get where you want to go.

Step one: define your goals

Ask yourself “What’s important to me?” Depending on what stage you’re at in life, it’s important to determine what your personal goals are. Some common goals you may be planning for are:

  • saving for retirement
  • saving for a new home
  • reducing income taxes
  • preparing for emergencies
  • saving for education

There are other things to think about too. How much money will you need to maintain your lifestyle throughout your retirement years? How much can you realistically save? How much risk are you willing to take?

Your unique goals will form the basis of your financial plan and motivate you to stick to it.

Step two: build a plan

You’ve determined your goals, now let’s talk planning. To start you in the right direction, meet with your financial advisor who will work with you to explore strategies designed to help you meet your goals by building a customized plan, just for you.

Step three: select the right products

You’ve set your goals and designed your plan to meet them. Now you need to select the products, credit or investment, which will allow you to get you where you want to go. It’s important to maintain your momentum by regularly reviewing your timeline and your progress with your advisor. If need be, modify your plan along the way to suit your changing needs.

Your financial advisor is knowledgeable, accessible and always works with your best interest at heart. No time like the present so start your plan, for today and tomorrow.

Excerpt from asterisk February 2012 print edition.

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