Mar 04 2024 12 mins
In this episode, Mike shares with you how to make a financial plan, the steps to develop a plan, key areas of a plan and some tips for keeping it current and relevant. He also adds a worksheet that you can download of the key components of a viable personal financial plan.
Your personal financial plan is a comprehensive statement of an individual or couple’s objectives for security and well-being. It has a detailed savings and investing strategy that includes your net worth, cash flow, emergency funding, insurance, tax reduction, college funding, healthcare, retirement, long term care, an estate plan and more based on your situation. It has a lot of moving parts. It should be evolving and dynamic with regular updates based on the changes in your life and your goals.
Financial plans can be developed with the help of an advisor or by yourself. You can do this.
If you have ideas you'd like to share with Mike for a future episode, or any other recommendations, you can reach him at: [email protected]
For a free coaching session, you can go to: https://fettermanfinancialsolutions.com/schedule-an-appointment/
To download the free Major Components of a Healthy Financial Plan, click here:
https://fettermanfinancialsolutions.com/resources/
Click here to access prior episodes he spoke about in this episode on E3-Financial Scams, E6-Risk and Return, E12-Resolutions and Goals, E13-Building an Emergency Fund and E14-Budgeting 101). Here they are: https://fettermanfinancialsolutions.com/blog/
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Guiding you to win with money and live with financial peace.
Have a great day!