Financial Advisors Who Use Financial Plans Add an Increased Value for the Consumer

By Central Coast Wealth Management
4:04 PM, Jul 14, 2020

Most people know how much money is in their checking and savings accounts. Some have even started investing in their futures through a 401(k) or a Roth IRA. Do you want to use some of that money to fund your bucket-list items when you retire?

Whether you are planning a long-awaited trip to the Caribbean or bookmarking vacation homes for sale in a warmer climate, having enough money to last throughout your retirement years should also be something you plan for.

The average length of retirement is about 18 years. Do you have enough financial stability to see you through? Without a sound financial strategy in place, it is hard to know. The words of personal finance expert Ric Edelman ring true when he says, “Hope is not a financial plan.” You might be on the right track with your savings account and your 401(k), but what else do you need to consider?

Creating a Financial Plan

Planning a financial strategy to strengthen your wealth and secure your long-term goals should always involve a financial plan, or a financial analysis. Typically, this is done by a CERTIFIED FINANCIAL PLANNER™ practitioner. A CFP® practitioner will consider not only your bucket-list items, but also the many other evolving pieces of your life. Once your initial financial plan is determined, it is generally reviewed annually, or anytime there is a life-shift that needs to be integrated into your overall strategy. Most people may not consider these as financially altering life changes, but that’s why it is important to have a CFP® practitioner create a financial plan for you.

Important circumstances to consider when mapping out your financial analysis might include:

· Recent retirement

· A new job

· A marriage or a divorce

· A long-term hospital stay

· The purchase or sale of a home or property

· A raise or a demotion

· A growing family, not to exclude an aging parent

· A recent inheritance

· Disability needs

· The desire to leave something for your children

· Taxes

· Social Security

· Mortgages and loans

· Health insurance, including long-term care insurance

According to Kurt Jackson, the CEO and founder of Central Coast Wealth Management, “It is important to not simply look at the ups and downs of the market, but also to analyze and consider the entire financial plan. At Central Coast Wealth Management, we are always looking at the big picture.”

Central Coast Wealth Management, located at 1104 Palm Street in San Luis Obispo, California, always starts every client’s financial strategy by creating a financial plan. Each financial plan is customized precisely to you so that you can shift your financial goals to not only fit the life you are living now, but to also ensure you can cross those big dreams off of your bucket list. Your ideal financial strategy will consider what you want, determine what is important to you, and build a plan to get you there.

Central Coast Wealth Management can be contacted through an online questionnaire or by calling 805-439-0370.

The Financial Professionals of Central Coast Wealth Management are Registered Representatives, and Investment Adviser Representatives with/and offer securities and advisory services through Commonwealth Financial Network® Member FINRA/SIPC, a Registered Investment Adviser.

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