All in Financial Planning
This is meant to be a helpful infographic to jog your mind of financial goal categories one could set goals within. Sometimes it’s difficult to get the ball rolling mentally, especially if long-term financial goal setting isn’t your cup of tea. Which, let’s be honest, who is setting aside their Friday nights writing down their long-term financial goals? Almost no-one.
It’s so important to have a set of personal finance principles to fall back on when the distractions of life arrive.
Article Source: https://www.napfa.org/financial-planning/what-is-fee-only-advising
The way in which your financial planner is compensated can make all the difference in the recommendations they make for you. That’s because some advisors work under a standard that requires only that their recommendations be suitable to your particular situation. Other planners work under a fiduciary standard that requires advisors to consider what is in their client’s best interest. You may be wondering why your advisor would make a recommendation that is not in your best interest. That’s where the issue of compensation comes into play.
Tips to make sure you are not getting general “one-size fits all” advice
Professional financial advice targeted toward you, your life and your goals works much better than generalized, scattershot investing tips.
The second part of this three part series, is around the topic of: GOALS.
For some people this gets you really excited, and the prospect of writing goals, and thinking about the future and setting goals is a motivating and energizing experience. That’s wonderful, run with it and use this skill for setting goals to better your financial life. For many, however, the idea of goal setting is daunting or just plain dull. For some the very word “goal” causes you to feel anxious or maybe you just don’t believe in goal setting and it hard to think with any real clarity about the future.
I work with a lot of business owners in San Luis Obispo, and being one myself, I thought I’d right a ‘quick start’ tutorial on how to set up the simplest kind of business — a sole proprietorship.
Join me this summer as I teach a course on Planning for Financial Independence at Cuesta College.
About the class:
Planning for Financial Independence
We will cover the fundamentals of sound personal financial planning. We will help you chart a course for financial independence according to your values, goals, and targets. We will teach cash flow planning, risk management, investment management, college education savings, retirement planning, and estate planning basics.
In this week's personal financial newsletter installment, I have a couple articles to highlight from my reading -- Home Ownership vs. The Stock Market and An Under Appreciated Way to Save Big Money -- Your Car(s)
Home Ownership vs. The Stock Market
In this 3 Part Series I will cover, what I believe to be, the three main elements of a properly built personal financial plan.
The 1st element of a well written personal financial plan is: Your Purpose and Your Values.