Welcome to Financial Planners Index |
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Financial Planners Index, your gateway to
financial professionals!
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The statistics are startling when one considers how few Americans are financially
free. In fact, many Americans will retire at or below the poverty level.
To some, financial freedom is just a dream; yet, with some proper
planning you can choose a different path and make your dream a reality.
Financial Planners Index was established to help you determine where you are, financially speaking,
and then connect you with a financial planning professional in your area.
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How to Develop your Plan
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| 1. Get Started |
First you need to take a good look at where you are today.
This will require a bit of organization; but is necessary if you are to create a
financial plan that will help you achieve the results you desire.
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| 2. Take a "Snapshot" of your assets |
Complete a balance sheet or net worth statement, which lists
your current assets and their market values, as well as your liabilities is an
essential step in the planning process. Download the following asset organizer:
 MS Excel Version
 Adobe PDF Version
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| 3. Track Your Cash Flow |
If your estate is going to grow, you will need to have more
income than you have expenses. For some, this is the most difficult part of
financial planning. Some people keep very detailed budgets (which account for
every penny earned), but most planners will agree that this degree of control is
not necessary to make your estate grow.
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| 4. Set Goals |
This will vary greatly, depending on many factors, such as current
age, desired retirement age and the amount of income desired during your retirement years.
Goals change as children mature, go to college, and marry or become self-supporting.
Desires to travel, entertain and participate in hobbies and sports during
retirement years will also help determine the amount of money that will be required.
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| 5. Risk Management |
One should also consider what will happen if the "bread
winner(s)" becomes disabled or dies before the accumulation of the desired nest egg
has occurred. Life or disability insurance may be desirable to protect against these
risks.
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| 6. Periodic Review |
A financial plan is ever changing. Circumstances will most
likely change thereby affecting either the goals or the steps required to reach the
goals.
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| 7. The Team |
A good financial planning team is important to this process.
One or more of the following persons may be part of your team.
You - You are the captain! If you don't have the desire to put your "financial life"
in order it will not happen.
Financial Planner - Many financial planners today are trained in one or more
the following disciplines:
- Law - the estate planning attorney will be required to draft legal documents
such as wills, trusts, buy-sell agreements, etc.
- Accounting - Certified Public Accountants may be used to prepare tax returns,
maintain and audit company records. Some of them also assist in the areas of
investments and risk management.
- Life Underwriters - Many life underwriters have become estate and financial
planning professionals. Properly used, life insurance products can become vital
tools in solving some of your estate planning problems.
- Professional Trustees and Executors of your Will can often preserve valuable
assets for your heirs. Often individual family members will act as the executor
of a decedent's estate. They generally have good intentions, but their inexperience
may prove very costly to the estate.
- Investment Advisors - Many of the professionals mentioned above are also
licensed to provide investment advice and help you invest in various types of
securities.
- Charitable Advisors - Complex tax laws often make contributing to your favorite
charities even easier. A number of professional planners specialize in this field of
planning.
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| 8. Make it Happen! |
Find a professional financial advisor and he or she will likely know and
work with other members of the team who are equally qualified in their own areas of practice.
Search for an advisor now.
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