What Are The Benefits Of Having A Personal Financial Plan?

The successful implementation of a comprehensive financial plan will allow your family to achieve the following –

  • Insure that the loss of income due to premature death or disability will not cause a catastrophic change in family lifestyle.
  • Fund  the education needs of children/grandchildren.
  • Your long-term health care needs will be addressed to insure your children will not have to provide for your support in your latter years.
  • Retirement will be at the time of your choosing at your pre-determined level of affluence.
  • Should you desire, your portfolio will be designed so as to increase in value over time, beginning a multi-generation wealth-building program.
  • Investment planning will be done to maximize after-tax return using low cost index mutual funds and exchange traded funds.
  • When you understand your financial plan, you will inevitably teach its precepts to your children. You will be better able to help  aging parents with their financial affairs, if this responsibility should become yours.
  • Estate planning will minimize estate taxation, if applicable.