Planning is the most important step to success and living the life that you value and want for your family.

Have you ever heard the expression: “No one plans to fail, they just fail to plan”.

Consider how much time you invest in planning a vacation, wedding or a major family event. Now ask yourself, how much time have you invested in creating your own or family’s personal financial plan?

Financial plans don’t dictate your lifestyle, they provide guidelines to fulfilling your own personal values and goals. And then when your circumstances change such as buying a new home or adding another family member, your financial plan is the tool that helps you predict the future.

What are the benefits of a financial plan?

  1. Establish and prioritize your financial goals.
    Let’s say you want to purchase a new car. A financial plan will clearly outline if you will have enough savings to later purchase a new home or return to school. And it helps you decide which of these goals is the more important. That’s what we call value-based financial planning.
  2. Save money to reach your goals.
    Everyone works better when there are targets and goals. If you are saving for a financial cushion; home renovations or a special vacation you’ll find it easier to watch your savings grow knowing there is a reward at the end.
  3. Focus on the bigger picture.
    Your financial plan covers all of your finances – not just your investments. A financial plan provides guidelines to help you monitor your day-to-day spending, save on taxes, or save for your retirement.
  4. Organize your finances.
    A financial plan can help you balance spending and saving, keep track of expenses and manage debt. And it will help identify areas where you may be spending more than you want to, while identifying areas where you can save a few dollars.
  5. Worry less about money.
    When you have a financial plan you’ll know where you are today and how to get to where you want to be in the future.
  6. Understand the type of protection you need.
    Insurance can be complicated. Protecting yourself and your loved ones in case of a catastrophic event is important. But how much protection do you really need? A financial plan will identify any risks and provide options for risk protection including insurance solutions. It’s about having peace of mind – within your budget.

While having a financial plan is great, it’s nothing without follow-thru and implementation. Reviewing your financial plan regularly will ensure that you are on track or if you need to make any major changes.

The GFW team is ready to get your started on a financial plan that focuses on your values and future priorities. Our first key point – What’s important about money to you?

Ready to get started on your financial road map?
Give GWF a call, we’re here to help.

Danny Carestia