Financial Advisor

Financial planning should be a pro active step-by-step process. Financial plans have intermediate (2-5 year) and long term goals such as college expenses and ultimately retirement. Financial plans are constantly changing as life events intervene. Life events change outlook and expectations. Examples include marriage, divorce, children, job changes and health which all have the ability to alter the plan. 

Typically plans assume a saving rate and investment return to fund these goals especially retirement. But markets change, tax law changes, and government policies all have positive/negative impacts on investments. Each plan must include the individual’s attitude toward investment risk and the ability to save. 

When retirement is reached a financial plan and budget is even more important. Risk management and capital preservation of assets while producing income can be difficult in a low interest rate environment. The plan must include the flexibility for unexpected expenses and the seemingly constant rise of healthcare expenses.