Financial Planning
Financial Planning is a collaborative process that helps maximize a Client's potential for meeting life goals through Financial Advice that integrates relevant elements of the Client's personal and financial circumstances.
Think of a comprehensive financial plan as a road map. If I am in New York and want to travel to Seattle, I might get there if I generally head West and North. But, the likelihood of getting lost and backtracking is substantial. It would take more time, be more expensive and, I would guess, be more stressful to embark on this type of journey.
If, instead, I got hold of a good map, highlighted the best route and set off, I would travel with the confidence that I know the specific roads I am traveling, the landmarks in the journey, the estimated cost of the trip, and how long it will take to get there. If I make a wrong turn, or get a flat tire, at least I can easily get back on track. These are the benefits that come from using a map to get from here to there: the same benefits that come from mapping the course from here to there, financially speaking.
The Planning Process
We do not consider financial planning a one-time event that crunches numbers into a computer which then generates a static set of graphs and charts to be stored on your bookshelf. It's much more dynamic and valuable than that.
At Planning With A Purpose At Halliday Financial, we view financial planning as a comprehensive, ongoing process that starts with helping you define your vision of financial success, developing a plan to help you get there, then tracking your progress along the way, recommending changes where needed.
True financial planning is based on a long-term, productive, communicative relationship with a financial advisor to develop a comprehensive, ongoing approach to managing all areas of your financial life. For many people, having a financial plan helps them feel more confident about their financial future.
Benefits of Financial Planning
People who have written plans. . .
Have clarity of purpose
Are not as afraid of the future
Plan for retirement
Accumulate wealth
Can protect their most precious assets
Impact the lives of others
Watch this video on Financial Planning