Financial Planning - 6 Areas of Financial Planning

Financial Position

Do you know how much money you earn from all sources, and how much you spend each month? Do you have enough money to cover your necessary expenses? Are you spending money that you should be saving?

A review of your financial position will give you a better understanding of where you are right now. Working with a financial planner will help you determine if you're making the best choices when it comes to your balance sheet, and cash flow and debt management. It may also help you discover if you are achieving a balance between your current lifestyle and future expectations. Taking a look at all areas
of your financial life and seeing how they fit together is the crucial first step in creating a plan for the rest of your life.

Protection Planning

If you lost your job or became disabled, how would you pay your bills? If something were to happen to you, would your spouse be able to remain in your home? Could your children afford college?

Under extraordinary circumstances, the best of intentions can be swept away. A financial planner can analyze your situation and help you protect your income and assets at every stage of your life. Your financial planner can help ensure that you and your loved ones can keep doing what you originally planned, no matter what surprises life has in store.

Investment Planning

Are you getting a return on your investments consistent with the risk you've assumed? Do you understand the different options that best suit your individual circumstances?

Rodney Boelter, a financial planner, can help you review your investment alternatives and suggest ways you may be able to get the results you desire. The goal is to help you potentially maximize the return on your investments, taking into consideration financial objectives, time horizon and personal tolerance for risk. Through periodic reviews, your financial planner can help to make sure that your investment plan reflects the changes inevitable as your life evolves.

Tax Management

Do you know how latest tax laws affect you? Are you keeping as much of your earnings as you can?

It's difficult to keep up with laws that change constantly and figure out how complex rules apply to your personal situation. As your financial planner, Rodney Boelter ChFC®, RIPC®, can provide guidance. It's his job to keep abreast of current regulations and to give you the benefit of his or her professional knowledge and experience. While only your accountant or attorney may provide tax or legal advice, your financial planner can work with them to coordinate a plan that best suits your needs.

Retirement Planning

Do you think you're too young to start planning for your retirement or, because you've already retired, it's too late to do anything about it?

The earlier you begin planning, the more sound your financial future can be and the more flexibility and freedom to choose the when, how and where of your retirement. Even if you've already retired, you want to make sure that the money you saved continues to work for you. Regardless of your age or life circumstances, working with a financial planner can help you adapt to your changing needs in order to help achieve financial independence.

Estate Planning

Are you sure your money will be used the way you want and support the people you want after you're gone?

If you become incapable of managing your affairs while you're alive, will your finances continue to be managed effectively? Proper estate planning can help you to anticipate your future needs and pass on more of your wealth to your family and charities. It can take into consideration the special concerns of families with minor children, business owners who need to address succession planning or grandparents who'd like to help the grandkids go to college. With a financial plan in place, you can pass on a legacy, not a tax burden, to your heirs.