If you’re like most people, you know that planning to achieve your financial goals involves more than just budgeting and saving for retirement. You’ve undoubtedly received financial advice, solicited or otherwise, from some combination of family, friends, coworkers, or even just from the myriad financial planning advertisements on TV and online. With all of this information out there, it’s no wonder that there’s more than a little confusion as to what financial planning is all about.
At Rockbridge, we view financial planning as the ongoing process of identifying goals, evaluating strategies to achieve those goals, implementing the action items necessary for those strategies to be effective, and monitoring the results.
This process sounds simple enough, but how do you know where to begin? How do you identify which goals are relevant to the planning process? Should they be specific or broad? Should you focus on short-term or long-term goals, and how do you prioritize them? What happens if your goals change?
Often it takes a major life event to draw attention on our true financial goals. While there are any number of events that may impact a person’s financial objectives, there are a handful of life events that, we as advisors, get a lot of financial planning questions about. These events include:
- Getting married
- Buying a house
- Having a child/adopting
- Changing jobs or starting a business
Visit our blog at www.rockbridgeinvest.com, where we will be rolling out dedicated posts discussing many of the common (and sometimes not so common) planning considerations associated with these life events.
As always, reach out to your Rockbridge advisor with any questions regarding your specific situation.