How To Achieve Your Financial Goals This Year
Financial Planning in 4 Easy Steps
Start your year off right and take the necessary steps to achieve your financial goals. You can use the tools, strategies and products that are readily available to help you achieve success with your financial goals.
Financial Hurdles
The biggest hurdles people seem to have with getting started with their financial planning is knowing what to do and who to trust. There are so many financial products available and so many voices that it’s easy to get overwhelmed and do nothing. So, you have to start with dialog, talking about your financial concerns and goals. It’s easier than ever today to research information and communicate with a financial advisor, so take advantage of the resources available.
With financial planning, in my humble opinion, we have to start with the basics. And, those basics start with protecting our income, family and values. While most people consider their family as the most important thing to them, oddly enough they will gamble on speculative investments while leaving their family at risk. Protecting your income and your family are of paramount importance, failure to do so can cause financial disaster.
Getting Started
If you look at constructing your financial plan from the eyes of an architect or engineer, you have to start with the foundation. Properly structured health insurance, disability insurance and life insurance are imperative to building a solid financial plan. Only after this foundation has been built should we even consider “investing”. Once you come to this conclusion, it’s easy to understand that you are the asset and your family is ultimately the reason why you do what you do.
After you protect what’s important from loss, you will want to consider combating wealth transfers. They come in many forms, but taxes, inflation, interest and fees are the largest contributors.Most people want to be rich, but few are willing to take the steps to be truly wealthy. Wealth can come and go… Knowing how to preserve your wealth is as important as creating in the first place.
If you want to reach your financial goals, you have to start somewhere. So, I’ve listed here four simple steps for you to be successful in reaching your financial goals.
Successful Financial Planning in 4 Easy Steps
Open the dialog – you can not do everything yourself. Productivity consultant and author, David Allen, said “You can do anything, but not everything.” Since your career or expertise is probably something other than finance, then you have to seek help from a professional. This is what we do, so utilize our tools and resources to help you achieve your goals. Open the dialog by having a conversation with a financial professional.
Plan your financial future – You’ve probably heard the saying, people don’t plan to fail, they just fail to plan. Planning your finances is no different. You have to plan your future or you are setting yourself up to fail by default. If you want to achieve your financial goals, you have to plan, prepare and execute. It doesn’t have to be difficult, sit down with an financial advisor and let them help, you’ll be glad you did.
Take action and commit to your financial plan – the problem we all have with reaching our goals is procrastination. Hockey Hall of Famer, Wayne Gretzky, calls it a deadly disease, “Procrastination is one of the most common and deadliest of diseases, and its toll on success and happiness is heavy.” For whatever reason, taking action on a financial plan is especially hard because we have the tendency to think we are invincible and that our lives will somehow improve on their own. It takes a plan, focused effort and commitment.
Make adjustments and changes as life happens – Life will happen, and you will have to make adjustments to your financial plan. When it does, you will need to review your goals and objectives and make changes as necessary. Careers will change, economies will falter, unexpected expenses will arise, families will grow, loved ones will get sick and some will die. Reviewing your financial plan on a regular basis is imperative.
Get Help With Your Financial Planning
There you have it, how to achieve your financial goals this year. Now of course every person’s financial situation is different, so that’s why it’s important for you to sit down with a professional and discuss your personal finances. Take the time to focus on your finances this year and you will achieve success.
You can utilize our winning strategies to help you accomplish your personal and business financial goals. Take the first step in planning your financial future by meeting with us online or in person. Contact us for your personal financial consultation and review.
If I can ever help you, your family or friends with financial planning, just let me know.
Until next time,
Barry Page, RFC
https://legacyinsuranceagency.com
Barry Page is a Registered Financial Consultant, Managing General Agent and Founder of Legacy Insurance Agency, PLLC. He helps clients with tax advantaged investment alternatives and specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.
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