Personal Financial Planning

The financial planning process helps crystallize your goals, align your resources, and identify areas of vulnerability.  It provides an outline of the steps needed to align those resources in pursuit of your goals, as well as steps to manage potential risks to your success. 

 

Financial planning is comprehensive.  It addresses planning for cash flows, taxes, investments, insurance (life, disability and long-term care), retirement, and your estate, as well as other goals.  It does so in a big-picture, holistic way.  The process may be very formal or informal, often  - and appropriately - guided by one's life-stage and circumstances.  Regardless, we will work with you to develop your initial financial plan early in the course of our engagement.  Thereafter, the financial plan will be reviewed on a periodic basis to help ensure that you stay on track through changes in the financial landscape and your personal circumstances.

 

The Elements of Comprehensive Financial Planning

  • Planning
    • Establishment of goals
    • Budgeting, cash flow forecasting, and projections
  • Investments
    • Risk tolerance assessment
    • Portfolio strategies, asset allocation1, and diversification1
    • Investment selection and monitoring
  • Risk Management
    • Risk avoidance, insurance and self-insurance strategies
  • Income Tax Planning2
    • Federal and State income, estate, and gift tax planning so as to minimize taxes 
  • Retirement Planning
    • Income needs planning
    • Optimization of investment returns, pensions, social security, and other government programs
  • Estate Planning
    •  Effective communication of desires and intentions relating to health and finances
    •  Efficient (low cost/low tax) transfers to beneficiaries
    • Charitable gifting strategies

 

Let's Talk.  Having a financial plan "roadmap" increases the likelihood of you reaching your planned destination.

 

 

1 Asset allocation and Diversification do not guarantee against loss.  It is a method used to help manage investment risk.

2 Kestra Investment Services LLC does not provide tax or legal advice.  Any decisions whether to implement these strategies should be made by the client in consultation with professional financial, tax, and legal counsel.