When putting together your financial plan, there is no question about the benefits of consolidation. It’s common to have your finances all over the place. Savings at the bank, investments with several financial institutions, retirement savings at another. The importance of having a financial plan is the ability to coordinate, consolidate and be able to implement your plan to achieve your goals.
By putting it all together, it allows for better planning where there’s less confusion, more control over your finances, efficient investing and tax planning and creates a clear picture of what needs to be done to fulfill your financial goals.
Consolidation means you have an accountability partner on your side that will keep you on track and stay the course and address gaps in your plan and introduce you to specialists if needed.
Financial Planning issues that should be addressed are:
- Wealth Protection
- Is your disability insurance adequate?
- What about your life insurance in case of premature death?
- What do you do in case of a critical illness?
- Estate Planning- what’s the primary goal of your estate plan?
- Wealth Accumulation
- Are you looking to preserve or grow your investments?
- Is your investment mix suitable for you?
- Are your investments tax-efficient?
- When do you plan to retire?
These issues are just scraping the surface, talk to us and we can chat further on how we can help.