Question 1

What is Financial Planning?

Accepted Answer

Financial planning is the process of analyzing your financial situation and aligning it with your personal values and financial goals in order to create a strategy that will help you more confidently achieve both your short-term and long-term aspirations.

Question 2

Why is Financial Planning Important?

Accepted Answer

Financial planning is important because it allows you to make better informed decisions when it comes to your money. You can plan for major life events, goals you wish to achieve, and experiences you want to enjoy with fewer uncertainties and risks to weigh you down.

Question 3

What to Look For in a Financial Advisor?

Accepted Answer

A good financial advisor will take into consideration not only your financial situation, but will work to understand who you are as a person, establishing a trusted relationship so they can more accurately tailor an effective financial plan around your goals, lifestyle, and personal values.

Question 4

I have a good understanding of my income and expenses. Can financial planning still be beneficial?

Accepted Answer

Yes, financial planning is more than just want you save (or don’t save) every month. It is a projection of your anticipated financial future that is used to make strategic financial decisions regarding investment allocation, taxes, insurance, retirement and medical benefits, and your estate.

Question 5

At what stage in life should I develop a financial plan?

Accepted Answer

Regardless of how complex (or not complex) your financial circumstances are, it’s always a good time to have a financial plan. Financial plans are intended to be updated for life changes and events as frequently as needed so the plan grows with you.

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