Financial Planning

Creating Your Financial Plan

Creating Your Financial Plan

It’s easy to put off financial planning when your busy career and life are top priorities. Taking time to meet with a financial advisor is essential for managing and protecting your assets. Clients have confidence knowing their money is working for them as they approach significant milestones. Our approach is to help you get a clear vision of where you want to go and provide the tools to get there.

The CFP Board developed the Guide to the Practice Standards for the Financial Planning Process to illustrate how a CFP® professional might provide financial planning to a client in accordance with the Code of Ethics and Standards of Conduct. Click below to read more.

How Comprehensive Financial Planning Works For You

A comprehensive analysis of your resources is the first step in identifying goals and developing a personalized financial plan that fits your unique needs and priorities. Your time horizon is an essential factor that determines the structure of your plan.

An advisor talks with you about investment strategies and assesses your risk tolerance level, so you feel confident about making sound money choices. We meet you right where you are to help grow your resources. When life takes twists and turns, your financial plan is designed with the flexibility necessary to meet those changes.

Financial planning is all about building a long-term relationship with a wealth advisor who understands your objectives and creates a pathway to your dreams. Maven Lane Financial Group has individualized solutions to guide you toward financial freedom. Contact us to learn more about our services.

The 3 Basic Lifecycle Financial Stages

Accumulation

Accumulation

This phase will span your entire working career and is very important in establishing the blueprint for your financial future and legacy. This includes guidance on budgeting, employment packages, investment planning, tax planning, insurance coverage, large purchases, and college planning.

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Pre-Retirement

Pre-Retirement

Typically, this is when you are within ten years of retirement. This is when most people begin to think seriously about the life they really want and question if they are on track to achieve their goals. There is still time at this phase to make impactful changes as needed rather than waiting until the cusp of retirement. This includes reviewing investment accounts, anticipated living and lifestyle expenses, Social Security, estate planning and debt reduction in preparation of the next phase.

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Retirement

Retirement

The Retirement phase can last for many decades; analyzing expenses, income sources & start dates, and Required Minimum Distributions. Estate planning is important through all planning phases to ensure that you are creating the legacy you want by design for your loved ones. Financial planning is a dynamic process and it is important to review and monitor your plan on an ongoing basis.

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