What is Financial Planning?

We can offer basic investment and product selection or sophisticated levels of advice.  At SFG, we pride ourselves on being able to provide fully integrated, dynamic financial planning.  But what is financial planning?
Comprehensive financial planning is achieved when all six key financial areas are combined and simultaneously addressed.
 
Financial Position

  • Know current net worth
  • Track current income and expenses
  • Manage debt 

Protect current net worth

  • Adequate insurance protection
  • Provide for survivors in the event of premature death/disability
  • Protect ability to meet accumulation goals
  • Protect ability to pay outstanding debt 

Wealth Accumulation Strategies

  • Create and maintain an adequate cash reserve
  • Provide education expenses
  • Strategize for significant purchases
  • Review investment portfolio 

Tax Management Strategies

  • Minimize federal and state income tax obligations
  • Develop long-term tax reduction strategies
  • Minimize future income tax liability 

Retirement Planning

  • Protect and plan for adequate retirement income from:
    • Government benefits
    • Employee benefit plans
    • Personal savings and investments
  • Project impact of early retirement and develop strategies for pensions and other qualified plans 

Estate Analysis

  • Determine exposures to estate and inheritance taxes
  • Outline appropriate estate transfer vehicles 

I am not a tax or legal advisor; please consult your tax advisor, CPA or attorney for advice on specific tax or legal matters.