Process
A strong action plan is the best way to create a strong, flexible financial independence plan.
A transparent, effective planning process is based on two key aspects of financial planning: management and access to funds when needed. A plan must ensure liquidity, to allow its owner to access funds when needed. It must also take into account key stages of life. This can include preparing for events such as retirement, death, and in the event of disability and/or critical illness.
With these goals in mind, the first step in building a comprehensive plan is to assess total financial success needs. This involves a consideration of important milestones such as retirement, insurance, major purchases and educational costs, as well as ongoing financial management strategies. Once these factors are identified, you will be prepared to begin developing your personal financial plan.
The Participant Effect goal-based financial planning approach is designed to help you:
- Define customized short- and long-term goals
- Identify roadblocks or gaps that might impact your financial plan
- Continually monitor your plan to ensure it meets changing needs and circumstances
What is Financial Independence?
Financial Independence is about more than preparing for retirement. It’s about working to achieve short- and long-term goals, and helping protect the most important things in life.
A strong plan is developed in collaboration with The Participant EffectSM Advisors, and includes a balance of action plan items flexible enough to meet changing needs across your personal and professional life.
The first step to achieving a strong financial plan is creating an effective strategy that:
- Prepares for a confident retirement
- Minimizes current taxes
- Pro-actively manages and controls debt
- Helps prepare for a child’s college education
Contact us today to find out more about The Participant Effect's financial planning process and learn how a sound financial plan can help you achieve your goals.
