Financial Planning Overview

Financial Planning

 

Financial PlanningFinancial Planning is the ongoing process to proactively address financial issues both large and small that fall within one of the seven major categories of personal finances:

• Investments
• Retirement
• Estate
• Insurance
• Major Purchases/Events
• Taxes
• Household Cash Flow

All potential solutions and decisions are filtered through the knowledge of your current overall financial picture and long-term goals. Financial Planning helps you make non-emotional but sensible decisions about money that are founded in facts and based on your entire and complete financial picture.


Have you ever asked yourself any of these questions? (Financial Discipline)

• How Do I Pull My Finances Together? (Getting Organized)

• How much will I need to save for retirement (what is my target number)? When will I be able to pull the trigger to transition into retirement? (Retirement Planning)

• Do I have proper investments for my stage of life? Are my investments suitable for me at a risk level that is appropriate considering my long-term needs? (Investment Planning)

• How do I protect my loved ones should something unexpected happen to me? Will they get what I want them to have when I wish them to have it, and in a method that is helpful without causing a negative impact? (Estate Planning)

• Am I paying more than my fair share of taxes? (Tax Reduction Planning)

• Do I know where all my money is going? Does my current spending represent my values and what is important to me? (Cash Flow Monitoring)

• Can I afford to purchase a vacation home or start a business if I chose to do so? How do I pay future college costs or wedding costs? (Major Purchase / Major Event Planning)

• Am I overpaying for my current insurance plans? Do I have the proper coverage with each type of insurance? (Insurance Planning)

If you have ever asked yourself these or other similar questions, then learning more about how comprehensive financial planning can be beneficial for you and your family. Financial planning is the long-term process of wisely managing your finances so you can achieve your goals and dreams, while at the same time negotiating the financial barriers that inevitably arise in every stage of life.

At Vermillion Financial Advisors, we specialize in helping you accumulate, grow, and preserve your wealth using the seven fundamental pillars of financial planning we have listed above. Financial planning is a process, not a product, and our success is measured by your long-term financial results. As trusted fiduciaries, legally bound to manage assets for the benefit of you, we strive to develop long-term, collaborative relationships with you to help you achieve your financial success.