Is your financial plan protected?
Building, implementing and monitoring a financial plan will help ensure that you put yourself in a position to achieve your goals, both now and in the future.
But what happens if your plan doesn’t go as planned? One of the most commonly missed or forgotten steps to the financial planning process is to ensure that you have minimized or accounted for any potential risks? What would happen to your financial plan if you were no longer able to earn an income? Or what would happen if you were met with an unforeseen illness that forced you to spend your retirement savings on treatment?
While these aren’t the most pleasant scenarios to think about when building your financial plan, they are certainly important aspects to consider.
Once your financial plan is built, remember to always try and poke holes in it. This will be the only way to ensure that your plan is complete. If you would like to learn more about the risk management process, contact us. We would be happy to help.
If you would like to discuss any aspect of your insurance, estate or risk needs, please contact Jon Glougie.
This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of IA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
How do we elevate your wealth?
It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.