Whether you would value your wealth at $10,000 or in the millions, it is important to take a look at your whole financial picture. Financial issues are interrelated and, in fact, act like a balancing scale. In essence if you adjust one area it can affect the other components. During your lifetime you may be challenged by financial concerns, but how you face them can determine the quality of your life and the lives of your loved ones.
Comprehensive financial planning is a process that recognizes the interrelationship of the following six components of your financial picture:
• Cash Management — This is more than just keeping a balanced checkbook. Cash management includes preparing and following a spending and saving plan in order to pursue your goals.
• Risk Management — Protecting your self against the unexpected is a vital element in financial planning. Everyday dreams are derailed by catastrophes: fire, flood, theft, illness, injury, lawsuits, even death. They all happen, and they bring the potential for a second catastrophe — a financial one.
• Investment Planning — We all need to save money for some reason. It may be for a car, an education, a home, a dream vacation or starting a business.
• Tax Planning — It is important to know the impact taxes can have on protecting and building your wealth.
• Retirement Planning — It is important to take steps now to insure that your golden years are indeed golden.
• Estate Planning — This means recognizing that death is inevitable and planning for the ultimate transfer of your assets to your heirs.
Getting Started Today
Finding strategies in today’s world is not easy. The steps to get started are involved. The first step is to recognize that in our complex, ever-changing world, professional help may be needed. The second step is the development of a personalized comprehensive financial plan designed to pursue your objectives. Don’t choose to ignore addressing these concerns until it is too late — get started today.
For more information, contact Rebecca Robins, CPA/PFS, CFP®, at 661-702-9680. The office is located at 25001 The Old Road in Stevenson Ranch.
CA Insurance Lic#0D75745. Securities offered through H.D. Vest Investment ServicesSM, Advisory Services offered through HD Vest Advisory ServicesSM, a non-bank subsidiary of Wells Fargo & Company, Member SIPC, 6333 North State Highway 161, Fourth Floor, Irving, TX 75038, 972-870-6000.