The input of an objective, experienced financial professional can be invaluable for anyone focused on managing their finances. Whether you are interested in exploring investment opportunities, planning for retirement, or protecting yourself and your loved ones against unforeseen events, consider consulting a financial professional for assistance.
A Clear, Top-Down Perspective of Where You Stand
A financial professional will spend time learning about you, your family, your financial goals, your capacity for investment risk, and where you want to be in 10 or 20 years. Fully understanding your personal and financial profile is the first step toward crafting a plan of action that can bring you closer to achieving your goals.
Seeing the big picture when it comes to your finances allows you to identify areas that may need improving. You can streamline and simplify the numerous aspects of your finances so that you are making maximum use of your earning power and your assets. Your plan of action will propel you forward.
One essential task your financial professional can undertake is a comprehensive review of your investment portfolio to determine if it is appropriate for you and adequately diversified. Spreading your plan money among the major asset classes — stocks, bonds, cash investments — may reduce the risk that your portfolio’s overall value will be affected if one asset class suffers a decline for an extended period.*
The percentage you allocate to each asset class depends on several factors, the most important being your risk tolerance — essentially, your ability to handle the risk of investment losses. The time you have available to invest and your ownership of other assets also play an important part in your investment allocation. Your financial professional takes all of these factors into consideration before recommending how you should allocate the assets in your portfolio.
You should understand that while a diversified portfolio won’t always escape losses, the extent of its losses may be much less than those suffered by an undiversified portfolio. If you have a higher-than-average capacity for handling investment risk, your investment professional may recommend securities that are more volatile but offer the potential of higher-than-average returns.
Working Toward a Financially Secure Retirement
You may need an annual income in retirement that is not all that different than your current income — especially if you anticipate an active retirement that involves frequent travel and expensive hobbies. Your financial professional will examine your contribution levels and your retirement plan portfolio’s composition to see if there are any weaknesses in your current strategies. You may need to boost your retirement plan contribution percentages and reevaluate your current investment selections in order to afford the type of retirement you want.
Effective planning anticipates and seeks to minimize potential problems. The potential for ill health or injury in the future is an issue we all should recognize and address. A financial professional can be invaluable in helping with this planning.
A trust established in advance can give you the reassurance that your assets will be managed effectively if you become disabled or ill. With a trust, the trustee manages the trust’s assets according to the guidelines established for the trust and is obligated to use the trust assets solely for the benefit of the trust’s beneficiary or beneficiaries.
Your time may be at a premium. You may prefer spending what free time you have with your loved ones rather than managing every aspect of your financial life. Working with a financial professional can give you the sense of well-being that comes from knowing that your finances are in trusted, experienced hands. We’ll handle the details so you can enjoy life’s biggest moments. Give us a call at 608-782-1148 if you’d like to have a conversation.