Financial Planning
A
dynamic approach to helping you and your family reach
your financial goals We use financial planning tools and
resources to help you and your family reach your financial
goals. We provide expertise in the six areas with the
biggest impact on your personal financial situation, and
develop plans and strategies to help you succeed.
We help you identify where you want to go, and show you
how to get there, turning financial planning into a powerful
force for you.
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Current Financial Position
Understanding your current financial situation is one of the most important aspects of doing financial planning. Your current assets, liabilities, liquidity and cash flow will affect almost every other short or long-term goal that you have.
Many people don’t realize the long-term impact of the financial decisions they make on a day-to-day basis. Your financial needs in the event of a death or disability will be closely related to your current situation, and areas such as income tax liability, asset allocation, estate tax liability, ownership status of assets, and control of assets are all inter-related.
If you already have a good understanding of your current financial situation, congratulations! If you could benefit from a greater understanding of where you stand today, there are numerous ways that you can begin.
Use worksheets to calculate your net worth and track your cash flow. Personal finance programs such as Quicken? or MS Money? are also helpful in gaining a better understanding of where you stand today.
For help in identifying strengths and weaknesses in your current financial picture, or for help in developing a comprehensive financial plan, select the "Contact Us" option located in the main site menu at the top of the page. Our Financial Advisors are just a click away!
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Protection Planning
Protecting your family from major financial risks is one of the cornerstones of any sound financial program. Life insurance, disability insurance, health coverage and long-term care insurance should all be evaluated to help minimize your exposure to financial risk.
By working with a knowledgeable Financial Advisor, you can develop a comprehensive approach to assessing your need for additional coverage. To help you get started, click on the Financial Calculators link located in the main site menu at the top of the page.
While there are more complicated systems for calculating your insurance needs, this provides you with an indicator of whether you should consider increasing your life insurance coverage.
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Investment Planning
Managing risk in your investments
Successful investing is based on managing risk — understanding what risk means and using it to your advantage.
Risk refers to the chance that an investment's value or return will be lower than expected. Investments with potential for greater loss are viewed as riskier than those with a lesser chance of loss.
However, the risks associated with investments differ in the long-term compared to the short-term. In the long-term, so-called "risky" investments may offer a greater chance of reaching a financial objective.
Risk Levels
For example, a government bond that guarantees a return of principal and $100 interest after 30 days is risk-free in the short term, since the return will always be $100 regardless of events in the financial markets, if held to maturity. In contrast, common stock may have the potential of earning as much as $200 and as little as $0 and offer no protection of principal.
In the long-term, the picture changes. Based on historical stock performance, risk faced by stocks declines over the long-term. The risk faced by government bonds increases, however, since their long-term returns they offer are frequently outperformed by other types of investments and may not always keep up with inflation and taxes.
The risk and return of any one investment should be viewed in relation to your total investment portfolio — the combination of investments you’re making. If you hold just one or two accounts, you are more exposed to risk than if your money is more widely diversified. Diversification means investing in instruments which behave differently during a given economic situation or time period.
A Financial Advisor can help you determine an appropriate level of risk and diversification for your financial goals, profile and time horizon. Talk to an advisor or representative today about developing a customized investment strategy.
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Retirement planning
Plans help address the changing concept of retirement
The concept of retirement is changing. And so are the ways that people prepare for it. For some, retirement means lots of leisure time to pursue hobbies and interests. For others it means a change to part time work, and still others will spend their new found free time with family members or as a volunteer in the community.
Whatever your plans for retirement may be, you have a valuable tool at your fingertips to help you prepare financially for what could be the most rewarding part of your life. This tool is your retirement plan. Many retirement programs offer investment options to choose from, and contributions can come from your employer, you or both to provide the accumulation you need to save for the future.
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