Comprehensive Financial Planning service analyses your financial health thoroughly and plans your investments goals for the future. Analysis of all facets of your financial situation including cash flow analysis, retirement planning, risk management, investment management, tax management and estate planning is known as Comprehensive Financial Planning.
It secures all financial needs like children’s education, children’s marriage, retirement, and re-structures loans and tax optimization.
Your true financial condition can be determined and the proper plan can be recommended only through Comprehensive analysis.
Key areas of Comprehensive Financial Planning:
- Cash Management
- College Planning
- Estate Planning
- Investment Planning
- Insurance
- Retirement Planning & Tax Management
Reaching Your Goals
The main aim of a comprehensive financial plan is to ensure your current and future choices in the financial markets are positive steps toward reaching your financial goals. To coordinate the varied aspects of your financial life, you probably need one financial adviser who is skilled with the training to develop a comprehensive financial plan. This adviser will work and coordinate with the other professionals who handle parts of your finances such as insurance agents, investment advisers and lawyers.
Your Assets
The different portions of your financial plan will be integrated with one another and the different parts will include aspects of other sectors of the plan. Your investments and your retirement savings are on the asset pages of your plan. The investments could include stocks, bonds, mutual funds and real estate investments. The plan should review whether your current mix of investments is appropriate to meet your long-term and short-term goals. On the retirement savings side, the plan reviews the types of plans you have selected, how they are funded and if you have picked the best type of plan for your business.
Your Protection
Different types of insurance are covered by the protection section of your plan. Property and casualty products like auto and homeowner’s insurance are straightforward. As a business owner, liability insurance protects you and your business against legal actions. Life insurance is important to provide a standard of living to your family, pay estate tax bills or to cover business obligations.
Passing Along Wealth
The estate plan portion of your financial plan covers how to ensure everything you worked for is passed efficiently to your heirs. This portion of the plan includes information about your investments, life insurance, wills and trusts and the disposition of your business assets. As you increase your wealth and move through the stages of life, the estate planning portion of your financial plan tends to become a strong force in the decision-making process for all parts of the plan.
Tax Planning
The tax planning part of your financial plan also coordinates with the other sections of the plan to ensure your financial choices are as tax efficient as possible. You pay personal and business income taxes and must always be aware of estate taxes. Tax planning works to avoid paying too much money to the government and keeping as much of your financial assets for you, your family and your heirs.
