In every stage of a person’s adult life, money management plays a critical role. Having a customized and realistic financial planning guide can help navigate through those different phases. One of the best ways to get started is partnering with specialists who can help you see the big picture. Brooks Reitzel Financial Planning Services in High Point, North Carolina, takes a holistic approach by looking at each client’s unique situation and offering solutions to help realize their long and short-term goals.
For most people, the financial planning journey starts after college when you start your first full-time job. If this is the case, then you need to develop a monthly budget, considering your student loan debt will soon be piling up. This is also the ideal time to start building a nest egg for your retirement through 401(k) plans and individual retirement accounts (IRAs).
The next step on the financial planning journey may involve marriage and children. For those who choose these lifestyle changes, saving for a new home, earning a salary increase and securing life insurance are typical income modifications. A certified financial advisor can help you not only establish these goals but also review retirement savings to ensure you’re is still on track.
As a person gets closer to retirement, financial planning takes on a different tone. Potential steps include reassessing investments and other parked funds. If the client wishes to maintain a certain lifestyle once retired, now is the time to review whether more needs to be done to meet that goal.
Keep in mind that life never moves in a linear direction. Along the way, a divorce or personal bankruptcy may occur, or selling a business may lead to revised estate planning. The good news is financial planning helps steer any changes that have an impact on a person’s income or savings.
Let a sound financial planning guide help define and meet your goals for each stage of your life. To get started, call Brooks Reitzel Financial Planning Services today at (336) 885-7900 to schedule a consultation. Visit the website to learn more about their wide range of services available to help you manage your finances.