Financial Plans typically cover:
Financial Plans can be customized according to your specific priorities and life circumstances. For example, you may want to focus on funding the education of your five kids, or on working towards purchasing your own house, or retiring early by age forty.
There is an old saying that “if you don’t know where you are going, any road will get you there.” Putting a plan to paper greatly increases your odds of achieving your financial goals, no matter what they are.
As Your Life Changes, So Might Your Financial Plan.
Life brings changes, and financial planning is an ongoing exercise of monitoring and adapting to those changing conditions.
If you are a Wealth Management client, we oversee your financial planning progress and meet with you regularly to help keep you on track, or to make adjustments as necessary.
If you choose to engage us as a one-time service to create your Financial Plan, you are always welcome to revisit your Plan with us, and we can review and adjust as you require. This service may result in an hourly or additional fee, but please contact us at 757-436-1122 to inquire.
How Do I Prepare for a Financial Plan?
Our very first step is to listen to you and to establish a clear understanding of what is most important to you and what your financial future is wished to be like.
Once you feel that TFG comprehends your goals and you have engaged us to create your plan, our financial planners will provide a list of data and documents that will be needed.
Documents & Information We May Request:
- ⊕ Tax returns
- ⊕ Pay stubs
- ⊕ Bank account statements
- ⊕ Cash flow details
- ⊕ Investment account statements
- ⊕ Budget items and expenses
- ⊕ Mortgage statements
- ⊕ Trust account statements
- ⊕ Insurance statements
- ⊕ Health care expenses
- ⊕ Employee benefit (401k, 403b, etc.) account statements
- ⊕ Debt and loan statements (student, auto, personal, credit card, etc.)
When all the data gathering is complete (which may entail a few additional meetings or phone calls), our planners will assess, assemble, and present your Financial Plan.
It may seem daunting at first, but the result of having a “flight path to achieving your financial goals” is worth the paperwork! Our skilled and friendly team will walk you through every step of this important process, and we are always available to answer your questions.