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Where do I Start?

Almost a rhetorical question, this is where a lot of individuals start their financial planning journey… From the beginning.

Everybody has different situations that make their scenario unique, but generally, they should analyze their finances and ask themselves:

  1. What are my financial goals?
  2. Where am I TODAY, and how am I positioned to achieve these goals?
  3. What steps should I follow to stay on track?
  4. Year-by-year, what changes should be made to my financial game-plan?

It can be difficult to buckle down and establish S.M.A.R.T. (Specific, Measurable, Attainable/Realistic, and Time Specific) goals, but without a goal, how will you know how you’re doing? It’s like playing a game, but not keeping score. It’s better to set goals and fall short, than wake up and realize you have work to do.

Try organizing as many financial documents as you can, and familize yourself with what you have. Such documents may include:

  • Tax Returns
  • Pay Stubs
  • Insurance Statements
  • Retirement Documents (401k, IRAs, Pensions, Annuities, other…)
  • Statements of debt (mortgage, credit cards, upcoming expenses)

Other good ideas could be to create a budget, try to save ‘X’ dollars per month, max out a Roth IRA…

There really is no “end” of financial planning. Once you've hit your goal, it's time to raise the bar and set a new one. It's an inspiring evolution process we take pride in being a part of with those we work with!