You’ve worked hard to get where you are – why shouldn’t you take every possible step to preserve as much of your wealth as possible?
Working with a financial consultant or advisor is one of the best ways to reduce your risk and financial liability, helping you grow your personal wealth as safely and quickly as possible.
What Is Personal Financial Planning?
Comprehensive financial planning encompasses a variety of services, ranging from tax planning and portfolio management to insurance and retirement planning. Within each of these areas, you will have overarching goals – save up enough month for retirement, for example. Financial planners help you establish smaller, measurable goals to get you there, along with milestones to track your progress.
Your needs and goals are unique, and they will inevitably change as the years pass. Working closely with a financial advisor helps ensure that your financial plan adapts to accommodate these changes and others that you are likely to encounter over the course of your life.
How Does Personal Financial Planning Help Preserve Wealth?
One of the most important facets of wealth protection involves limiting your financial liability, specifically with regard to your tax situation. Financial planners can assist you in legally minimizing your tax liability, both now and in the future.
The second important aspect of preserving wealth is minimizing risk. Like the rest of your financial portfolio, your appetite for risk will vary based on factors such as your age and when you plan to retire. Working with an advisor, you will have the opportunity to review your asset portfolio and investment strategies to ensure you preserve as much of your wealth as possible while progressing toward your personal financial goals.
What About DIY Financial Planning?
Some people prefer to develop and maintain their own financial plan. However, unless you have an in-depth knowledge of the personal finance industry – or you’re willing to invest your time in doing the research – this approach might now serve your best interests. This is especially true when you consider the time value of money.
If you’re like most people, you already have a long to-do list and not enough hours in the day to get them done. As a result, you might not devote as much time to these tasks as is necessary. Your financial plan should be constantly moving and changing, based on new legislation, changes in your financial situation, major life events, etc.
DIYers are prone to taking a set-it-and-forget-it approach, and that can mean throwing away money.
The Atlanta certified financial planners of Resource Planning Group understand the importance of creating a plan for you that is dynamic and comprehensive. We take the time to get to know you and to understand your goals, so we can help you achieve every one of them.
Contact us today to learn more about how we can help you preserve your hard-earned assets with our personal financial planning services in Atlanta.
DISCLAIMER: It is important to note that this information is not meant to provide investment, tax, legal or accounting advice. This material is for informational purposes only, and is not intended to provide, and should not be relied on for, investment, tax, legal or accounting advice. You should always consult your own financial planning, tax, legal and accounting advisors before engaging in any transaction.
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