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What Goes into Creating a Financial Plan

A financial plan is essentially a roadmap that helps chart a course to a destination. This destination could be a singular objective or a series of goals that you want to achieve over your lifetime.

These goals may include: saving to buy a home, getting married, having children, accumulating wealth for a comfortable retirement, saving for a child’s education, paying down debts, enjoying a specific type of lifestyle, ensuring your family is secure if you become disabled or need long-term care, having a will or estate planning.

In developing a financial plan, your financial advisor or planner would explore these various goals through a discovery process that aims to grasp a deep understanding of your expectations, risk tolerance and time horizon to fulfill your goals. With your profile in mind, the advisor will help you to formulate a plan, tailored to your needs.

Investing is often a key feature of a financial plan which your financial advisor or planner can help you implement. This entails selecting appropriate investments which can include stocks and bonds as well as mutual funds.


To learn more about building a financial plan, contact a financial advisor today.