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Writer's pictureSandstone Wealth Management

The Importance of Having a Financial Plan

Updated: May 24, 2023


 

WHAT IS FINANCIAL PLANNING?

Financial planning is simply a better approach to get qualified financial advice. The process involves taking a holistic view at your finances, including a full understanding your values, financial objectives and main concerns, that will guide financial recommendations.


Financial Planning will address:

  • Where my money is, where is it going, and is it in the right places?

  • How much should I be saving to meet my objectives and where?

  • Am I prepared for unanticipated risk?

  • Am I on track to meet my financial objectives?

  • What can I do to improve my financial future?

 

WHO SHOULD HAVE A FINANCIAL PLAN?

Anyone who has a significant source of income and out-going expenses should have a structured financial plan in order to better their financial future.


Characteristics of people we can help:

  • Serious about working toward financial success

  • Value a pro-active thinking partner

  • Motivated to improve

  • Wants to make smart decisions with their money

 

WHY SHOULD YOU HAVE A FINANCIAL PLAN?

Creating a financial plan will help you:

  • See your finances holistically, so you understand how your financial decisions collectively impact your financial success.

  • Be prepared to recalibrate and make smart financial decisions when life events happen

  • Create thoughtful strategies that take into account your long-term financial goals

  • Understand what you need to do to improve your financial future

 

HOW CAN YOU GET A QUALITY FINANCIAL PLAN?

By partnering with a financial professional, you gain:

  • Organization: Bringing order to your Financial Life

  • Accountability: Follow through on financial commitments

  • Perspective: Bring insight from the outside to help avoid emotionally driven decisions

  • Proactivity: Anticipate life transitions to help be financially prepared

  • Education: Providing knowledge/education pertaining to your Financial life

  • Partnership: Working together to help you plan for the best Financial Life possible


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