AT LIFEPLAN FINANCIAL GROUP WE BELIEVE THAT IDENTIFYING YOUR UNIQUE FINANCIAL NEEDS IS THE MOST IMPORTANT STARTING POINT FOR STRATEGIC CONSULTING
This all starts with determining what life stage you’re in. Proper financial planning changes and evolves as you go through life. So having tailored advice for your current stage is important to ensure you’re taking all the right steps.
Early Earning Years
- New to the professional world
- Less income potential, but lower expenses
- Limited need for insurance
- High need to start saving
- Recent graduates
High Commitment Years
- Income may have increased
- Significant increase in expenses and commitments
- New family or new financial obligations such as a mortgage, starting a business, etc.
- High need for insurance
- High need for cash-flow planning
Peak Earning Years
- Income is at or nearing a peak
- Expenses are lower, for now
- Potential “empty nest”
- Mortgages and other major loans paid off or not a concern
- Need for insurance reducing, potentially
- Need for savings is high
Nearing Retirement
- Final years of full-time employment
- Low expenses, but reduced or impending reduction in income
- High need for planning, tax- strategies, and savings
- Guidance on how to successfully transition to the retirement you want
Retirement Years
- The qualifications for “retired” is unique to you
- Significantly reduced earnings
- Drawing on savings for income
- High tax, cash-flow, and estate planning needs
- Consideration given to financial legacy
- Need for insurance increases
Where do you fit in…
Sometimes life isn’t so simple. These stages will crossover and overlap. A LifePlan Financial Group advisor will go over your situation in detail and determine just where you fall on the spectrum. From there a custom plan is tailored to you based on these needs and updated as you grow towards your goals.