The purpose of having a financial strategy is to provide you with a road map of what you need to do to achieve all of your financial goals and objectives. Having this financial road map, will help you make informed decisions about what you spend, save or invest.
A life goals analysis is a tool to identify if you are on track to achieve your goals and objectives. The analysis will provide a snapshot of your entire future financial life. It identifies all anticipated sources of income and all anticipated expenses.
Recognizing all sources of income and expenses and the timing of each, we are able to identify years where you may have a shortfall. If your portfolio cannot cover these “shortfalls” other actions may need to be taken to ensure your plan is not jeopardized.
Good planning now with the help of your financial advisor will help you go from shortfall to surplus, ensuring you will still able to meet your retirement goals.
Financial Planning magazine