A Financial Plan
Updated: Feb 26, 2019
What is a Financial Plan? Why do I need one? A brief summary.
Financial plans are an analysis based on information provided by you, from which calculated assumptions are made. Based on these, we make recommendations applying to your personal situation. This plan includes your Current Situation, Business Planning, Investment Solutions, Estate Planning, Insurance Planning, Retirement Planning, etc.. Analyses will be performed based on certain personal and economic assumptions outlined in the Financial Plan. These assumptions include: retirement age, life expectancy, retirement-income requirements, government benefits, time horizons and special needs, rates of return, inflation assumptions and income tax rates. . Financial planning is an ongoing process involving implementation of the plan and ongoing monitoring, review and possible updates to the plan. At a minimum, engagement includes a commitment to contact you on an annual basis to assess the progress of the plan.
In order to ensure the contracted services are effectively carried out, it is a client’s responsibility to provide complete and accurate information.Where specialized knowledge is required, you are recommended to seek counsel of qualified professionals including tax, law and insurance specialists..
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“There is no 'one size fits all' situation.”