What Is the financial planning process

What Is the financial planning process

Discover how to become financially independent without giving up lattes or living on bread and water.

I invite you to check out this short video covering the financial planning process. In this video you’ll discover:

  • Setting short- & long-term goals.
  • Making financial decisions.
  • Financial considerations related to age.
  • The 7 steps of the financial planning process.
  • Who a financial plan is for.

So, if you’re serious about taking control of your finances and you don’t want to run out of money in retirement then you should watch this video.

WWM Financial is an SEC Registered Investment Advisor

The opinions expressed in this content are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

What Is The Most Important Part Of A Financial Plan?

What Is The Most Important Part Of A Financial Plan?

This quick video reveals the most important part of your financial plan. So, you can get control of your money and create a life you love.

If you’re wondering if you’re saving enough or if you’re in the right investments so that you can retire comfortably and remain comfortably retired, book a free call by clicking on the button below.

What Is A Financial Plan Used For?

What Is A Financial Plan Used For?

What Is A Financial Plan Used For?

We all know we should have savings.

But when it comes down to actually doing it, Americans tend to fall into 2 camps: planners and non-planners.

Planners usually know what they’re saving for, how much they need to sock away, and how long it will take them to realize their goals.

Non-planners, on the other hand, save when they can, maybe by making small contributions to a workplace retirement plan in the hope that everything will work out in the long run.

If the second type sounds more like you, you’re not alone: A quarter of American taxpayers (23 percent) don’t have a financial plan, according to a 2021 AICPA Survey.

With our busy lifestyles, planning for anything more than a few months or years in advance can seem daunting. It’s natural to wonder: What is a financial plan used for?

Here are a few purposes of a financial plan:

1. Boost Your Savings

A financial plan gives you a good understanding and insight into your income and expenses.

When you know where your money is going, you’ll be able to frame a concrete plan that will let you save more.

Cutting down your expenses will automatically boost your savings in the long run.

2. Improve Your Standard of Living

Investing for the future without compromising on the standard of living is every investor’s ultimate goal.

It’s a common misconception that you have to lower your standard of living if you’re trying to make better financial decisions.

With a good financial plan under your sleeves, you’ll be able to pay monthly bills and other expenses while living in relative comfort.

3. Helping You Prepare for Emergencies 

Having a financial plan is a good way to be prepared for any unforeseen situation.

An emergency fund will help you to procure funds in case of a job loss or family crisis.

For most Americans, the goal is to have 3-6 months’ worth of daily living expenses stashed away in an accessible account. This way, you’ll not have to worry about dipping into your savings when an unexpected expense comes knocking or when your financial situation radically changes overnight.

The emergency corpus will help you handle unforeseen expenses on time and with much less anxiety.

4. Creating an Investment Portfolio

A financial plan can help you understand your goals and objectives, how much time you have to accomplish them, and how comfortable you are with risk.

With a comprehensive view, it’ll be easier to figure out how to reach every individual goal. These goals can include investing, which is the process of buying assets that grow in value over time and provide returns.

Whether you choose your investments yourself or use a wealth manager, with your financial plan as a guide, you’ll be able to evaluate new investments and make informed investing decisions.

Instead of jumping in impulsively with no sense of direction and just praying for the best, you will pick the right investments based on your income capacity, risk profile, and long-term goals.

5. Risk Management

If you can no longer work, you’ll have difficulty paying your mortgage.

If you die prematurely, you’ll no longer be able to provide for your family.

A financial plan analyzes the risk of such events and the impact they could have on you or your loved ones.

Then it offers viable solutions (such as insurance and estate planning) that ensure that you and your family members can maintain the same standard of living with reduced or no income.

6. Managing Debt Effectively

We take loans to finance things such as cars, homes, and college education.

Without proper planning, these liabilities might turn into debt traps and seriously damage your financial health.

Thus, a financial plan is essential to ensuring you don’t end up in a financial crisis.

Eliminating high-interest debt will allow you to focus on other important financial targets.

7. Building a Roadmap to Retirement

Social Security is unlikely to provide you with enough income to live on after you stop working.

With a financial plan, you can calculate your expected income from all sources, then look at your current and projected expenses to see whether you’ll have enough money to retire comfortably.

A financial plan will tell you how much you need to save for a carefree, relaxed retirement.

More and more younger people are looking to join the FIRE movement. If you’re looking to join the bandwagon, a financial plan will help you reduce your expenses, increase your savings and boost your investments so you can start enjoying post-retirement life in your 30s or 40s instead of 60s or 70s.

Conclusion

A financial plan is basically a description of your goals and the tools and strategies you need to achieve them.

Writing a financial plan may sound like another chore, but if you want to be successful, it’s the foundation on which to recognize, build, and accomplish your goals.

Wherever you are in your financial journey, having a written financial plan can improve confidence and result in more constructive financial behavior.

How to Get Started

Households that work with a financial advisor who takes a holistic look at their needs are more likely to make better overall financial decisions than those without.

We can help you cut through the clutter by having a thorough understanding of your situation and creating a customized financial plan that works for your unique goals.

WWM Financial is an SEC Registered Investment Advisor

The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

What’s Included In a Financial Plan

What’s Included In a Financial Plan

What’s Included In A Financial Plan?

A well-written financial plan can mean the difference in your financial success. With it, you’ll be less likely to make poor financial decisions.

Despite the importance of a personal financial plan, many people don’t know what to include in their plans.
Financial planning is highly personal. This means that while plans feature similar ingredients, the quantities, when they’re added, and how they blend will vary based on your unique situation.

So, to give you a clear picture of what goes into a financial plan, let’s look at some of the most common elements:

1. Net Worth Statement

The first thing to include in your financial plan is an overview of what your financial situation looks like.
You can do this by performing an asset evaluation to determine your net worth. Start by taking an inventory of all of your assets (investment properties, bank accounts, valuable personal properties, etc.). You’ll need to determine the market value of all your assets.
After valuing all of your assets, you’ll need to take an inventory of all your liabilities (debts).
You can then calculate your net worth by deducting your liabilities from your assets’ value.
If your liabilities outweigh your assets, don’t fret. This is common when you’re just starting out, especially if you have student loans and a mortgage.

2. Financial Goals

Your financial goals are the next item to include in your financial plan.
Think about goals such as saving a down payment for a home, buying a car, paying off your student loans, kids’ college savings, retiring early, and other stuff that you’d like to accomplish.
These goals are the driving force of your financial plan. They will motivate you to follow through with your financial plan.
Decide how much money you’ll need to meet each of these goals. When your financial goals are crystal clear and have a number attached to them, your plan becomes more effective.

3. An Investment Strategy to Get You There

Once you have an idea of your financial goals and how much you’ll need to set aside to achieve them, your next step will be to create an investment strategy to help you meet each goal.
Design your investment strategy based on your personal goals, risk tolerance, and time horizon.
If you have a lengthy time to save, it might make sense to be more aggressive with your investment choices. If you’re approaching retirement, you might choose to be conservative in your selections.
After deciding the strategy you’ll take, jot down a personal investment policy statement to guide you when choosing your investments.
You can then select your investments while making sure to diversify as you build a portfolio.

4. Budgeting and Savings Plan

You cannot build wealth without having a handle on your expenses and knowing what you can save.
If you haven’t already, create a personal budget to track and categorize your monthly income and expenses. Adjust your spending as necessary and plan how to tackle high-interest debt, such as credit cards. Dedicate whatever’s left over to build your emergency fund then start working toward other goals.
A good financial plan should also have a savings plan. This is a plan for how much money you need to save from your income every paycheck or month to realize your goals.
Setting aside more money while you’re young with fairly low expenses is a smart choice. If you’re older, you’ll want to figure out how much you’ll need to set aside to retire comfortably.
A good rule of thumb is to save at least 20 percent of your monthly income.

5. Debt Management Plan

When used wisely, debt can be an excellent financial tool. But it can also be a drag.
Whether you have credit card debt, student loans, or other “toxic” high-interest debt, a debt management plan can help you to complete your debt payments quickly, allowing you to retire without continuing payments.
If you’re unsure where to start, a financial advisor can help educate you about debt and the various strategies you can use to manage or pay down debt.

6. Emergency Fund

While it’s impossible to plan for all risks, having an emergency fund to help you in case of an injury, illness, job loss, or another expensive event can help you stay within your goals and objectives.
Putting cash away for emergency expenses is the bedrock of any financial plan. Doing this can help you avoid tapping your savings account to make ends meet.
You can start small — 500 bucks is enough to cover small repairs and emergencies so that an unexpected expense doesn’t run up credit card debt.
Your next goal could be a thousand bucks, then one month’s daily living expenses. Continue increasing your target gradually until you have 3-6 months’ worth of basic living expenses stashed in a separate savings account.

7. Retirement Planning

A retirement plan lets you save money for the golden years of your life and ensures you can meet your needs comfortably.
By using different financial options that reinforce each other, you’ll be able to create a dependable income stream in retirement. An old rule of thumb says you will need 70-80 percent of your current income in retirement.
A financial plan prepares you for key risks — such as inflation, taxes, market volatility, and the probability that you may live longer than expected.

8. Tax Planning

Creating an income and property tax plan is critical for your overall financial plan as these taxes can undermine long-term savings.
Taxes are inevitable, but you should not pay any more than necessary.
Review your tax plan annually since tax laws and regulations change every year. Take advantage of opportunities like harvesting tax losses, bunching charitable donations to offset excess income, and using Roth IRA conversions strategically.
Hire a tax professional to decipher the deductions that you may be eligible to take. This way, you’ll be able to reduce the amount that you have to pay to Uncle Sam and keep more of your money.

9. Estate Planning

This is something that a lot of people put off because they think that they have plenty of time to do it later or just don’t want to think about death.
It’s, however, important to understand that the worst can happen at any time. It doesn’t matter whether you have significant wealth or a small nest egg; everyone over 18 should at least have durable health care and financial powers of attorney in place.
If you become incapacitated and do not have a plan in place, for example, your loved ones may have trouble making vital medical decisions or accessing your bank accounts to pay your hospital bills for you.
Estate planning should also include plans for how your wealth will be distributed to your loved ones or special causes you care about after your death.
Comprehensive estate planning may include a handful of documents, such as wills, living wills, trusts, and advance directives.

10. Insurance Assessment

An insurance plan is another key component of a personal financial plan.
As you work toward building your wealth, you should also think about how to protect it.
The insurance needs of each individual will vary. Take time to evaluate your risks and determine how much insurance you need to offset each.
Your insurance needs might be affected by age, health, profession, assets, economic status, and family status.
At a minimum, include plans for your auto insurance, health insurance, disability insurance, homeowner’s/renter’s insurance, and life insurance.

Conclusion

Creating a financial plan will take some work, but the outcome can be life-changing.
Including all the elements mentioned above can lead you to greater financial health and a better future.
It goes without saying that your personal financial plan should not be static. You should treat it as a living document and review it as your life changes and your goals shift.

Contact Us

At WWM Financial, we take the time to assess your current financial situation, gain an understanding of your short- and long-term needs and goals, and put together a realistic financial plan to help you achieve everything your heart desires.

For help with your financial plan or to learn more about the services we offer, get in touch with a member of our team today. 

WWM Financial is an SEC Registered Investment Advisor

The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

The Benefits of a Financial Plan

The Benefits of a Financial Plan

“Failing to Plan is Planning to Fail”

While the prognosis may seem daunting, there’s a lot of truth in this statement, especially when it comes to your finances.

Because there are lots of foreseeable and unforeseeable variables that can affect your finances, it’s essential to have a solid financial plan in place.

But before we discuss the importance of a financial plan, let us first understand what it means.

What is a financial Plan?

Put simply, a financial plan is your roadmap to actualizing your financial goals.

It comprises a budget, an emergency corpus, wealth-building investments, and retirement savings.

A financial plan is critical to helping you manage your daily finances, meet your changing financial needs, stay prepared for potential economic crises, grow your wealth, and save for retirement, while working towards achieving your big (and small) dreams.

Benefits of a Financial Plan

There are many benefits of financial planning which can have far-reaching positive effects on your life.

If you don’t have a financial plan, here are 6 good reasons why you should consider creating one:

1. Helps in Decision Making

A financial plan takes stock of your present as well as your future to provide guidance for action planning and decision-making.

Actions focused and coordinated on specific outcomes are much more effective.

With a financial plan in place, you would not take any wrong decisions that would affect your economic well-being.

2. Cushions Emergency Expenses

Have you ever wondered what will happen to you or your family if a sudden medical emergency, job loss, or roof repair comes knocking?

“Let’s borrow some money from the vacation fund.” There goes the trip to Disneyland you have been planning all those years!

A financial plan will come to your rescue here. It makes room for an emergency and helps you be ready for any curveball life may throw you.

Whether you like it or not, emergencies can arise at any time. Your car can decide to break down on your way to an interview after years of reliable travel. With an emergency fund that will keep you afloat during such an unforeseen crisis, you can restore your quality of life to what it was faster.

3. Improved Spending Habits

Spending more than what you earn is a common thing these days.

Many facilities like credit cards, installment services, ‘buy now, pay later’ schemes, etc., entice you to overlook your budget and spend more than necessary.

Whether it’s purchasing the latest tech or spending on experiences you can afford to save on, you find yourself in a sticky situation at the end of the month when the bills keep pouring into your mailbox.

The growing bills only take you further away from your long-term goals.

A financial plan thus helps infuse discipline in your life. By evaluating your spending habits, you can cut back on unnecessary expenses and save more instead of spending more.

4. You Enjoy a Better Standard of Living

A financial plan will improve the quality of life you live.

From wise investments early on in your career to being able to save on yearly taxes, you’ll be able to save more, grow your wealth, and finance the lifestyle you desire. Thus, you can attain your financial goals without compromising your standard of living.

With a realistic financial plan in place, being constantly broke will be a thing of the past. Money will rarely be tight. All those month-end woes will be history.

A financial plan will also help in ensuring you have access to cash for the smaller pleasures in life without having to dip into your personal savings.

5. You Secure Your Retirement

Most of us hate thinking about what retirement will look like, but a financial plan will force you to.

This is vital as saving up for retirement and potential healthcare costs that arise during this stage of life can make or break your post-working years.

Retirement is inevitable and ensuring you’re prepared for it is a crucial part of the personal financial planning process. At a time when you want to sit back and reap the fruits of your labor, your retirement assets will come in handy.

6. Creates Peace of Mind

A financial plan also encourages mental health.

Compared to people without any sort of financial plan, those with a financial plan are less stressed and tend to be more optimistic about their future.

With a plan in place, finances are less likely to keep you awake at night. Rather, they can provide clarity, thus lessening stress and anxiety while improving quality of life.

DIY Vs. Professional Help

Understanding why a financial plan is important is the first step toward a secure financial future.

While it sounds like an easy document to write, it’s advisable to draft a financial plan with the help of a financial planner or advisor.

Unless you have a strong background in finance, going alone means you could miss some vital components, which can prove disastrous.

For a working individual, insufficient retirement savings can lead to a miserable lifestyle later. For a business, poorly managed tax preparation could result in unexpected debt and a loss of carefully accumulated wealth.

Contact Us

At WWM Financial, we take the time to assess your current financial situation, gain an understanding of your short- and long-term needs and goals, and put together a realistic financial plan to help you achieve everything your heart desires.

For help with your financial plan or to learn more about the services we offer, get in touch with a member of our team today.

WWM Financial is an SEC Registered Investment Advisor.

The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

What is a Financial Plan?

What is a Financial Plan?

What is a Financial Plan

We all have things that we would like to achieve before we die.

Life goals can include saving for your kids’ college education, owning a beach house, buying a yacht, retiring comfortably, or having more time to spend with family rather than Cara and Peter in the office.

To achieve these goals, you need to be focused and financially organized.

A financial plan helps you make sensible money decisions that can help you achieve your goals in life.

So, What Exactly Is A Financial Plan?

A financial plan is a detailed overview of your current financial situation, (short, medium, and long-term) financial goals, and an in-depth strategy to achieve them.

Besides helping you realize your dreams, a financial plan will make you feel in control and give you the comfort of knowing that your financial life is in order.

To be effective, a financial plan must be:

  • Written down. A financial plan doesn’t exist if it’s not written down
  • Touching every aspect of your finances
  • Realistic and achievable
  • Agreed with your partner (if you have one, i.e.)
  • Regularly reviewed and updated

Depending on your goals’ time horizon, a financial plan can stretch over months, years, or decades.

Benefits of A Financial Plan:

Having a solid financial plan brings forth an assortment of benefits that include:

  • Better management of personal income
  • Clarity in retirement objectives
  • Improved preparation for future expenses
  • Reduced risk of debt
  • Increased likelihood of personal and financial success
  • Decrease in anxiety, worry, and stress levels

Money, if it does not bring you happiness, will at least help you be miserable in comfort.” – Helen Gurley Brown

Components of a Good Financial Plan

Understanding what goes into creating a financial plan can mean the difference in your financial success.

A financial plan is a broad umbrella that covers multiple aspects of your financial life.

To lay the groundwork for a solid financial foundation, it pays to understand what each of the aspects entails.

Here’s a quick crash course on the components of a good financial plan:

Financial Goals

Making a financial plan is useless if you have no idea what you want to accomplish with your money.

So, whether you want to make the plan yourself or work with a professional, it should start with a list of your goals, both small and big.

A good strategy is organizing your goals according to how soon you want them accomplished:

  • Long-term goals are those a decade or more away and can include buying a home or planning for retirement
  • Medium-term goals are those you intend to achieve in the next 5-1- years and can include starting your own business or putting a down payment on a property
  • Short-term goals are those you hope to achieve in the next 5 years or less and can include buying a new car or paying down debt

For each of the goals, specify a dollar figure and a target date. Being specific helps you to measure your progress towards the goals.

Budgeting

A budget is one of the most important personal finance tools, but it can be a scary four-letter word if you’ve never had one before.

Simply put, a budget is a plan for how to spend your finances. By creating a detailed written budget, you can see exactly where your money is going and make better spending decisions.

As you approach retirement, you’re faced with so many financial decisions, and keeping track of everything can seem like an Olympic sport. This can ultimately lead to overspending and debt.

A budget lets you see how much money you have, what you spend it on, and how much is left over.

Once you get a hold of the inflows and outflows of your cash, it’ll be easier to optimize your spending to cut back on unnecessary stuff such as unused subscriptions, morning lattes, takeouts, etc.

Emergency Planning

The bedrock of any financial plan is stashing money away for surprise expenses.

An emergency or rainy-day fund is a go-to pool of cash you can dip into when unexpected expenses come knocking. It will help you avoid tapping your long-term savings whenever the need arises.

It would be best if you tried to save 3-6 months’ worth of living expenses (housing, utilities, transportation, and groceries) in a separate, highly liquid savings account.

Don’t put any of this money into an investment that will be hard to convert to cash at short notice (read immediately).

Also, only dip into the emergency fund when you have an urgent and pressing expense. Buying the latest iPhone is not an emergency expense.

Investment Plan

Your financial plan should include an investment plan/strategy.

If you have a long time before retirement, it may make sense to be more aggressive with your choice of investments.

If retirement is fast-approaching, be conservative in your choices as you build a portfolio.

It would be best if you also diversify your investment portfolio by picking stocks, bonds, and funds that suit your risk tolerance and time horizon.

Diversification means that if one of your investments dips, another will balance things out.

Beware of investment scams that promise you quick returns. The safest way to double your cash is to fold it and put it in your wallet.

Credit and Debt Strategy

Using credit and taking on debt is not necessarily a bad thing.

Generally, there are two kinds of debt: bad debt and good debt,

When you take a mortgage loan to buy a home, you may be taking on a lot of debt, but the lower interest rates and appreciating property value make it an acceptable form of debt.

On the other hand, doing impulse shopping using a credit card with a 20 percent APR without paying it off in full every month is bad debt. This is because you’re purchasing things that don’t grow in value and, in the process paying steep interest.

If you have high-interest debt that contributes to the reduction of your income, you can write it down and determine the best way to pay it off to avoid trouble. In the words of Earl Wilson, “if you think nobody cares if you are alive, try missing a couple of car payments.”

Getting out of debt can be a painstakingly difficult undertaking. You can tackle debt using approaches such as the Avalanche method, Snowball method, and Debt consolidation.

Retirement Planning

With the uncertainty of Social Security and fewer American companies offering full pension plans, it is now more important than ever to start saving and planning for retirement.

Retirement savings should become a priority instead of an afterthought.

The IRS has made saving for retirement more attractive with special tax-advantaged accounts such as individual retirement accounts (IRAs), employer-sponsored plans, and special retirement accounts for the self-employed.

Tax Strategy

Creating an income tax plan is vital for your overall financial plan.

Not planning for taxes can lead to a negative financial impact during tax season.

To minimize the impact, ensure you allocate a fixed amount of income towards tax.

Since tax laws and regulations change every year, your tax plan needs to be reviewed annually. Organize a sit-down with a tax professional to determine the deductions that you may be eligible to take.

Insurance

You have worked hard to build a solid financial foot for yourself and your loved ones. You now need to protect it.

Disasters and accidents can and do happen, and without the right insurance, they could lead to financial ruin. Some of the covers to consider include auto insurance, homeowner’s insurance, life insurance, health insurance, and disability insurance.

But be careful; there’s a fine line between having sufficient insurance and being over-insured. To avoid being over-insured, evaluate your financial situation and ask yourself where the insurance gaps are.

The following factors might affect your insurance needs:

  • Age
  • Health
  • Economic status
  • Family status
  • Profession
  • Assets

Also, review and adjust your coverage wherever necessary to ensure you’re protected against every possibility.

Estate Planning

Estate planning involves arrangements for the benefit and protection of your heirs.

Your estate plan should include plans for how your assets will be distributed upon your death, as well as who will be authorized to make key financial and medical decisions for you in case you’re incapacitated.

Many people put off estate planning either because they don’t want to talk about death or because they think they have plenty of time to do it later. It’s vital to understand that death is inevitable and can happen anytime. In fact, estate planning is essential for anyone above 18 years of age.

Without an estate plan in place, your loved ones may have trouble accessing your accounts. Aim at having at least healthcare and financial powers of attorney in place.

Other documents can include:

  • Durable powers of attorney
  • Wills
  • Living wills
  • Trusts
  • Advance directives

Why is Financial Planning an Ongoing Process?

Often, Americans set up financial plans with good intentions. However, these plans fail to meet their expectations because of the lack of an ongoing review against their original objectives.

Your financial plan shouldn’t be treated as a static document.

Financial planning is an ongoing process because things change and when they do, they can significantly impact the direction your planning may need to follow.

These could be personal changes in your:

  • Personal circumstances like divorce, ill-health, death in the family, change of job, etc.
  • Income – may increase or decrease
  • Expenditure – may also increase/decrease
  • Liabilities – may start, stop, increase or decrease
  • Assets – you may land a windfall or inherit property
  • Change of risk appetite

Or the changes could be outside your controls:

  • A change in the political environment
  • A change in government policy
  • Property market changes
  • Stock market highs and lows

As a rule of thumb, aim at reviewing your plan annually and making changes as needed.

Seek Help

While you can craft a financial plan yourself, it’s a remarkably difficult process. You can instead enlist the help of a professional financial planner.

The most important decision you will make is at the start when you select the professional with whom you’ll co-create your financial plan. Only registered financial professionals can give formal advice. These are regulated and adhere to strict planning and advice guidelines set forth by FINRA and the SEC.

At WWM Financial, we understand that everyone is different, and no two people will have the same needs.

We help you build a unique, solid financial plan by following 6 steps of the financial planning process:

  1. Initial consultation to establish your short, medium, and long-term goals in life
  2. Work out what assets and liabilities you have
  3. Evaluate where you are today relative to your financial goals
  4. Co-develop a route map for achieving your unique goals
  5. Implement your plan
  6. Monitor and review your plan at least yearly and adjust when needed

Our success at WWM Financial has been founded on three simple maxims – professionalism, integrity, and impartiality.

We offer a high-quality bespoke service to our clients over the long term. This ethic has helped us build excellent relationships and earn loyalty from our clients and other professionals with whom we work.

The Takeaway:

Creating a financial plan is undoubtedly one of the best things you can do with your income. Once you implement your plan, attaining personal goals and financial freedom becomes a step closer.

A goal without a plan is just a wish – Antoine de Saint-Exupery (French writer).

If you would like to get started with your own financial plan or have us review your current plan schedule a free consultation by clicking on the link below.

WWM Financial is an SEC Registered Investment Advisor.

The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

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