Long-term financial success does not just happen. Even professionals and entrepreneurs with high annual incomes or income potential do not have a lock on success when it comes to meeting such goals as retirement planning, funding major purchases or dealing with life's contingencies. Ever-changing tax laws, the potential complexities of employer-provided qualified and non-qualified benefits and the challenges involved in the transition of business or investment assets from one generation to the next are just a few of the obstacles that can cause even the well-to-do to get off track. Proper planning through a professional advisor who understands these obstacles and uses a comprehensive process to overcome them is the surest way of achieving life's financial goals. Such a process can even assist those of more modest means to achieve dreams that they might not have thought possible. The key is to plan -- to plan early -- and to take action on your plan.
Whether you have a question or concern relating to a specific financial issue that has come up in your life, or if you wish to develop a long-term overall strategy for retirement and asset management, you should always look at the totality of your circumstances. Each area of your financial life can have an impact -- positive or negative -- on your goals. Understanding these interrelationships is important as you deal with ongoing economic issues. A good financial blueprint will consider a broad range of areas, including retirement planning, stock options, income and estate taxes, risk management, investment planning and asset allocation. An advisor who knows how changes to one part of your strategy or plan impact the others is your best ally in assuring that long-term goals are achieved as shorter term needs and desires are addressed.
Recognizing the need to take control of your financial life is the critical first step. Choosing and working with a Certified Financial Planner (CFP) who both understands your needs and has the most current knowledge and cutting edge ideas, strategies and technology should naturally follow. A detailed review of your current situation -- including income tax status, asset ownership, portfolio diversification, insurance coverage, current estate planning documents and employer-provided benefits will be necessary as you and your advisor work towards addressing your ultimate goals. Of course, once a plan is developed based on these goals and objectives, it is of little use if it sits in a drawer. An advisor who can take an active role in helping you implement your plan is invaluable, particularly when you and your advisor also meet on a regular basis to monitor progress towards your goals, to make adjustments as necessary, and to consider new goals and desires which almost certainly will arise as your successful financial journey unfolds.
Contact us today to start taking control of your financial future.
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Angela O'Neill is licensed in New York, Florida, Georgia and Maryland.
New Horizon Financial Strategies ("NHFS") is a registered investment adviser offering advisory services in the State of New York and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by NHFS in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
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All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.
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