Financial Planning – 6 Steps In Planning Your Future

Financial Planning – 6 Steps In Planning Your Future

February 6, 2017

FINANCIAL PLANNING – The Road To Your Future

Life is like a highway or road you may have already travelled. It’s rarely a continuous straight stretch without having many twists and turns, humps and bumps and even the dreaded pot hole which we are all quite accustomed to. Smooth surfaces don’t come as a guarantee as we make our journey through life and more than likely we will all encounter the same obstacles along the way.

Most of our significant life goals, such as retirement, putting a child through college, marriage or buying a house can be found on that journey and these events can heavily impact on our finances. Having a financial plan in place will ensure you are ready to deal with whatever life brings you and it will help you achieve those goals. It also makes sure you are prepared for the expected and equally the unexpected.

There are many factors to consider when analysing your current financial situation and planning for the future. Reviewing savings, investments, taxes and cash flows, and attempting to align them with your goals can be time consuming and daunting. Ultimately, you are responsible for your own finances, but it is important to ask yourself if you have the time and expertise to deal with all your financial matters – many people will postpone making important financial decisions because they lack confidence, and feel they aren’t fully informed.

A professional financial planner will offer an expert, objective opinion, and will analyse your current financial situation to prepare a comprehensive financial plan aligned with your goals and objectives. Having a plan in place will provide you with peace of mind, and a greater sense of control over your finances

Working with a professional will help you determine what your financial goals really are, and whether those goals are achievable. A comprehensive financial plan can reveal opportunities to make or save money that you may not have previously considered. By allocating income and investments effectively, you can avail of significant tax savings and increase your overall wealth.

A financial planner will also be able to identify risks that you might not have previously considered, and what impact they could have on you, your family or indeed your business partners and associates. Serious illness, death or disability could place extreme strain on your finances, but those risks can be minimised with appropriate cover. Knowing that your family will be protected in the event of a tragedy provides peace of mind.

People retiring today are living longer and fuller lives than ever before. A financial plan will help determine when you can retire, and what action needs to be taken to achieve your retirement goals and enable you to maintain your current lifestyle and enjoy retirement.

At One Finance our advisors are Certified Financial Planners ® and have the knowledge and experience required to help you develop a clear understanding of your current situation, and future needs. Contact Martin McDonnell of One Finance to plan your future 

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