Step 1 – Set Goals
The first step of my financial advice is to get a clear picture of your vision of the future. This is where you get to lay out all of the important goals you have for yourself and your family, some examples include:
- Buying a vacation property
- Buying a new home
- Funding education
- Starting a business
- Preparing for retirement
Secondly, I will ask you some questions to determine your existing situation, your financial starting point.
The other side of a comprehensive financial strategy addresses your family’s risk. Consideration will be given to protect your family by ensuring your program includes appropriate provisions for:
- Life insurance
- Disability insurance
- Critical illness insurance
Step 2 – Create Strategy
Based on the goals you set I will conduct a “Gap Analysis” between your current state and desired state and formulate a strategy to make your goals a reality. We will explore various options based on your lifestyle preferences and decisions. For example, we may look at multiple retirement scenarios using pessimistic, conservative, and historical index rates of return on investments. From here your selected strategies will be aligned with your set goals to form your financial strategy, this will be your roadmap going forward.
Step 3 – Implement Strategy
Now comes the implementation phase. Both you and I will have important actions to complete in order to implement our strategies. We will be accountable to one another to accomplish these tasks and get you moving towards your goals.
Step 4 – Manage for Results
In the final phase it is my job to manage and track your progress and performance relative to your set goals. It is important to review your progress together periodically to evaluate changes to your personal circumstances, your financial circumstances, and the financial environment. If necessary we can react to changes and amend our approach to make sure we achieve your goals for the future.
“Compound interest is the most powerful force in the universe” – Albert Einstein
I believe in investing over the long term, not speculating. Financial markets are both efficient and unpredictable; one cannot “outsmart” the market. My strategy is to invest in mutual funds with strong fundamentals and track record.
Diversification is Key
Extensive research has shown that 80% of a portfolio’s returns can be attributed to asset allocation. Proper investment diversification not only increases returns, it also reduces overall risk.
I help you build your portfolio based on a thorough understanding of your financial goals, risk-tolerance, and investment time-horizon. Careful consideration is given to maximize tax efficiency and minimize overall cost.
-Insurance products and services are provided through Assante Estate and Insurance Services Inc.