We all know someone who freely offers advice on some new investment to get into. But you are probably aware that there's more to a person's financial well being than the next great stock tip. You have things like your RRSP, education funds, income and estate taxes to consider. These are just some of the aspects that make up most people's complex financial picture.
You Need a Certified Financial Planner for Effective Financial Planning In SE Calgary.
Financial planning focuses on you - the individual – by pulling together all relevant financial and psychological data that impact your life.
A well-made financial plan will give you a greater sense of security while also helping you reach your personal financial goals.
While there are many people in SE Calgary that consider themselves financial planners, only a true professional financial planning practitioner follows the 6 steps of the total financial planning process.
Step 1 - The financial planner helps you understand your current financial situation by gathering and assessing all pertinent financial information. This includes things like your current assets and liabilities, filed tax returns, previous securities transactions which have taken place, insurance policies, current wills, and if you have any current pension plans.
Step 2 - The financial planner helps you to determine your personal and financial goals, as well as clarifying your current values and attitudes towards things like risk.
Step 3 - The financial planner aids you in identifying potential financial bottlenecks that may throw up barriers to your financial freedom.
Step 4 - The financial planner will provide you with a written plan along with some alternative suggestions. This should be designed to fulfil your needs without placing any undue emphasis on specific products.
Step 5 - The planner supports you in the implementation the correct strategy so that you may achieve your goals and objectives.
Step 6 - The financial planner provides a summary and suggests necessary revisions to your plan so that you can continue to realize your goals.
How to Know If You Need a Financial Planner?
People employ financial planners for various reasons. Answering a few questions could help you decide if you need professional financial assistance.
- Can you spend the time needed to pay attention to your personal financial matters?
- Are you sometimes confused when you receive inconsistent financial advice from multiple sources?
- Do you find you are paying too much tax?
- Are you unsure about where and how to invest your money?
- Do you find that it's difficult to make ends meet?
- Do you find it difficult to save money?
- Has there been a recent change in your life, such as retirement, job loss, an inheritance, an addition to your family, or loss of your spouse that could affect your financial future?
Contact our office in SE Calgary if you are looking for information about your long term financial planning strategy.