Do you have a financial road map?

On my weekly radio show, I often talk about financial road maps. Some people refer to them as financial plans, but I like the term road map. Why? Because it is an easy concept to understand. A financial road map works like a GPS, or a map, for your financial future. You have a starting point (where you are today) and a destination (where you want to be at retirement). A good financial road map helps you determine the best way to get there, allowing sufficient time and money for you to enjoy the ride while also looking out for roadblocks along the way – like taxes and inflation.

If you don’t have a road map for your financial future, I suggest you develop one with the help of a trusted advisor who follows a fiduciary standard of care, putting your interests first. Your road map should:

  1. Be updated at least once a year, more often if there are significant changes in your life like a job change, addition to the family, or revised investment strategy.
  2. Include safe investments that guarantee your income throughout retirement.
  3. Include legacy planning if protecting your family after you’re gone is important to you.
  4. Consider how taxes, inflation and the time value of money will impact your retirement savings.
  5. Be flexible and adaptable to accommodate changes in your goals.

If you’re not sure if you have a financial road map, or you’d like a second opinion on how dependable your map is, please call 714-738-7811 or email us today. We’d love to review your plan and make recommendations for improving it. There’s no obligation.



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