Financial Planning ~ Why Women Need a Financial Plan
A comprehensive financial plan provides a clearly defined roadmap for organizing the pieces of your financial picture.
It provides you the opportunity for discovering your values, your goals, your dreams for the future, and the resources needed to achieve them.
The financial planning process considers what strategies and investments would be most appropriate based on your values, tolerance for risk, and time horizon.
With a financial plan in place, you will have clarity and the ability to focus on your goals and understand what it will take to reach them.
Financial Planning should be regarded as the big tent under which all other financial disciplines find shelter.
A comprehensive financial plan can help you charter the choppy waters of competing for financial priorities.
A financial plan will reveal how your financial goals may overlap-for instance, what is the impact of saving for your retirement have on saving for your children's college education?
Your financial plan is the centerpiece of wealth management and financial wellness.
This type of information provides clarity on how to prioritize your goals.
Your financial plan should be comprehensive and incorporate this process to find comfort and success with your money. Most importantly, you will know that you are on the right track and your financial future will be secure.
Why is it needed? Today, time may be on your side.
However, will you be able to continue at your current pace throughout your life?
Will your income be the same forever? Will you be able to sustain your desired lifestyle after you retire?
I have been in serious financial trouble when I sustained an ankle injury in my early career.
It forced me to find financial solutions. Investments were a part of the solutions, but I found they were not a complete solution.
Insurance was important, and so was financial planning.
I discovered that comprehensive solutions were the answer to solving my financial troubles.
The solution was not just the one thing – it required different elements that worked together. One of the common financial problems was that of unpreparedness.
There are some people who believe in the myth that their retirement plan is set if they have a pension plan or social security.
Retirement Planning is a vast subject and factors like life expectancy, health status, current lifestyle, inflation, taxes and more have to be evaluated.
It is the largest and most important component of financial planning.
Why is financial planning important?
As a woman your financial needs are unique.
Women live longer than men but earn less. Women should consider, creating a side gig or working longer, save more and invest prudently and wisely.
Women are less confident about financial matters. Some married women tend to defer financial decision-making to their husbands.
When women are not engaged in their financial affairs, they are more vulnerable if their husbands predecease them.
Women have saved less for retirement. Women spend less time in the workforce, caring for children and other family members.
Being a caregiver can save money but at the cost of displacing a stream of income.
Women's insurance needs are different. Women are likely to need long-term care insurance more than men because they often outlive their spouses.
“I believe a successful retirement rarely happens by accident. It happens by design.
Over the years I have seen that the investors who have written plans are the ones most likely to reach their goals.
"It's important to have a plan…" an idiot with a plan can beat a genius without a plan" Warren Buffett…....
Financial Planning will answer three important questions:
What are your values and financial goals?
Where are you today in relation to your goals?
How will you get from where you are today to achieve those goals?
The three main steps in creating and implementing an effective financial plan involve:
Developing a clear picture of your current financial situation
Setting and prioritizing financial goals and time frames
Implementing appropriate saving and investment strategies
I can help you -
Clarify what's really important to you (your core values).
Prioritize and define your goals.
Benchmark your current reality.
Create a financial road map.
Guide, inspire and support you along the way.
PARIS Financial Planning specializes in providing financial planning solutions for women.
Contact us for more information about our education, management, and wealth building services.
Take the first step. Let's get acquainted. I listen and inquire about your goals, past and present experiences and family concerns.
Tell me your story and I will design a plan based on your goals, your purpose, your values and what's important to you.
Schedule your FREE 30-minute Strategy Session Today!
PARIS Financial Planning provides women conservative strategies to grow their wealth during accumulation/savings years to protect their wealth during their retirement years and tax-advantaged strategies to distribute their wealth during their life and upon their death.
"I am on a mission to revolutionize women's relationship with their money."
Learn how to Master The Feminine Approach To Build Wealth