Why Have a Financial Plan?

Many have fears and doubts about their financial future.

Doubts of saving, “Have I done enough?”. Fear of spending in retirement, “Will I run out of money?”.

There seems to be a perception that a financial plan is only for the wealthy or for those coming up to retirement. A financial plan is worthwhile for everyone. It provides a realistic path to reach many financial needs over long periods of time.

A financial plan sets a path not only to saving for important financial goals in life like, buying a house, saving for college and retirement, it sets a path for realistic spending for that house, your children’s college and your retirement without running out of money.

A financial plan leads to investments working for your plan and financial goals. At Prato Capital Management, we use investment returns based on almost 100 years of historical data to provide guidance on how investments may grow to support your plan.

While the investments provide the growth for a financial plan, other aspects of your financial life need to be included. Areas like insurance to protect your family financially. Tax preparation and advice to make efficient investment and financial decisions. Legal advice for proper estate planning to include a will or a trust. This is your Financial Life Plan.

A Financial Life Plan is reviewed and updated on a regular basis to include any changes or new goals for your financial situation and future.

The author Lewis Carrol once said, “If you don’t know where you are going, any road will take you there.”

Financially, if you know where you want to go, the road that will lead you to those goals is your Financial Life Plan.

Do you have a plan?

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