“Solid financial plans create wealth if they are followed. Okay, . . . So I earn $100 and save $7 or $8. Then I live on the $92 or $93 that remains. That was easy! So, what’s so hard about the financial plans thing. I’m going to create lots of wealth.” Obviously this is an oversimplified version of financial planning.
Wikipedia defines a financial plan like this; “A financial plan is a comprehensive evaluation of an individual’s current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. This often includes a budget that organizes an individual’s finances and sometimes includes a series of steps or specific goals for spending and saving in the future. This plan allocates future income to various types of future expenses such as rent or utilities and also reserves some income for short-term and long-term savings. A financial plan is sometimes referred to as an investment plan, but in personal finance, a financial plan can focus on other specific areas such as risk management, estates, college, weddings, or retirement.”
Financial Plans Can Feel Invasive;
Financial Plans can be very personal and invasive for some folks. Primarily because they involve your money. And you don’t want to share the financial details about your money with a stranger. You may feel uncomfortable sharing your Credit or Debt details with anyone. Your money tends to be used as an indicator of how successful you are, or how successful you have been so far in your life. It may not be a fair indicator, however, banks, mortgage companies, credit card companies, finance companies, and many employers use this information to make decisions about their relationship with you. Your friends may be impressed with that fancy new car, but how much is that really costing you with the economic and financial world?
Occasionally character and morals come into play when your finances are involved but very rarely. Most business entities want to know how much money you make monthly or annually, your credit score, and how much money you have in all your different accounts. This includes checking, savings, investment, and any retirement accounts. And other assets like your home, boats, vehicles, land, negotiable instruments, jewelry, etc. Anything with real value can qualify, sentimental value does not count.
Financial Plans Are Comprehensive;
Solid financial plans are very comprehensive. That is why they are solid. All of your relevant financial details are considered. Without the details, you are “attempting to bake a cake without all of the ingredients”. Solid Financial Plans are developed by professionals who are trained and understand people, human nature, economics, finances, credit, debt, wealth, etc. They also understand privacy and confidentiality. Kevin Smith is one of those professionals. He wants you and your family to become “financially fit”, just like he and his family have become. Being financially fit is not a marketing phrase for Kevin, its a way of life and a core belief. If you need to get your finances in order and could use a little help Kevin is your guy! He will give you as little or as much help as you need! Contact Kevin Now!E-Book Available Here