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Financial Planning for Life Events

What are your life goals? What do you dream about accomplishing? Do you have a plan to achieve those goals and dreams? Financial planning for your life gives you peace of mind as you work to make your dreams come true. You'll have confidence in life’s decisions because you already have your financial future under control. You can dream big and accomplish a lot with the right tools and team to help you along your journey. 

Having a plan really just means being prepared for whatever happens throughout your life. Financial planning gives you more power to control and manage your expenses, income, and investments. At Rinvelt & David, we’re here for you through life events and will help you plan for:

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  • Employment Events  - Promotion, Change, Retirement. Financial life planning starts with your income. The source of that income can change throughout your working life, so it’s necessary to incorporate the possibility of changes to your income into your unique financial plan. 
  • Family Events - Marriage, Divorce, Death. Sharing your life with someone is a commitment to partner in all things, including finances. Whether you’re planning to make a big purchase, a big move, or a big change, you’ll be doing it together. It’s important to have a financial plan that can be relied upon to support you through the decisions you make and the things that happen throughout your life. 
  • Childcare Events - Birth, Adoption, Education. Growing your family is a time of excitement, anticipation, and an added expense. Your financial plan needs to account for the costs of caring for your family as well as preparing for their future with both investing and estate planning.

Think you’re ready to begin planning for your financial future?
Here are a few questions to ask yourself to help you decide.

What does it take to begin creating my unique financial plan?

To see your complete financial picture, you have to put all of your important pieces together in the right places. Creating your personal financial plan will require some important numbers gathering, beginning with your income and expenses. But there’s more to your financial life plan than just the numbers. You’ll want to evaluate what’s most important to you - your goals and dreams. And then you’ll want to analyze how your finances will fit into achieving your life plans. It’s an exciting process with invaluable results.

When should I put together my unique financial plan?

Regardless of your age or stage in life, it’s never too late to develop, adjust, and regularly monitor your financial plan. Planning does not stop at your retirement or at the fulfillment of major financial goals in your life. In fact, that’s when planning activity should be stepped up. How you plan after reaching certain goals is important to ensure that you maintain those financial achievements. The last thing you want to do is blindly assume that everything is OK from that single point in time you may have glanced at your financial condition. Your financial plan should be cash flow driven, and your needs  can often change, so it’s good to review your financial plan regularly, even after you’ve created it. 

Once you’ve “done the math,” looked at your lifestyle needs, and determined how those specific cash flow needs may change over your lifetime, your unique financial plan will be ready to help you possess the “peace of mind” that you’re ready for whatever life may have in store for you.

Should I consult a professional financial planner?

Yes. Having a professional financial planner will help ensure you are taking every aspect of your financial life plan into account. They will assess your current financial situation and ask the important questions about your future needs and goals in order to create the financial plan that best fits the life you hope for, and can support you through the life you live.

When you’re ready to pursue the important life step of financial planning, the Rinvelt & David team will be here to help you organize, analyze, and implement your personal financial plan.

Find out more by contacting us today!

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