Preferred Financial Group | Financial Plan

What’s a financial plan?

A financial plan is exactly what it sounds like – a plan for your finances. Building a financial plan typically involves evaluating your current financial situation (income, expenses, etc.) and then developing a strategy to get you on track to meet your goals.

A questions we often get: "How much is a financial plan?" Most advisors charge thousand of dollars for a plan, but for us, it is completely complimentary. We believe everyone deserves good advice, regardless of the size of your bank account.

A year ago we met with a woman in her late 60's who needed our help. She was left a widow and her husband's pension gone. She was already living on her small social security check and renting because she couldn't afford the house after her husband passed. She was forced to go back to work and will likely have to move in with her kids.

We met as a team and said that's it! Nobody can say they couldn't afford help. We won't charge for a financial plan, or have a minimum that somebody needs to work with us. We are here to serve you. Not make a quick buck. Next, we made it our mission to make it easy to create a financial plan.

Steps to Create your Financial Plan

Step 1: Establish your goals

It is pretty hard to get somewhere if you don't know where you're going. Retirement looks completely different from one person to another. Trust us, we have seen them all. We have clients that are full-time RV'ers, your typical snowbirds, and clients that need more than 6 figures for their lifestyle. But, we also have clients that live on very little and live a quiet life. What do you want your retirement to look like?

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Step 2: Lets make financial planning easy!

You can buy your groceries online and pick them up without going into a store, you can buy something on Amazon and it's on your front door in a day, you can cash checks by taking a picture, and you can even meet with a medical professional on Zoom.

Why can't financial planning be that easy? Now it is! It only takes 5 minutes to put together your information and create a simple financial plan.

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Step 3: Review Your Plan

If you get blood work done. You would expect a doctor to review your results, right? The same should go for your financial plan.

The advisor's at PFG review all the plans that get completed. This gives us the background information we need to build the right plan for you.

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Step 4: Take Action

Everyone is heading somewhere in their financial journey. Whether they are going an inch per mile, or 100 miles per hour. Our job is to make sure you are not only going in the right direction to accomplish your goal, but at the right pace.

Like a GPS, we may reroute you to a better path. This new path might be contributing more/less, contributing to a Roth, switching your allocation, when to take Social Security, if you should take your pension buy out, or if you need a guaranteed income source. We have a ton of different options on how to get you on track to be successful.

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Final Step: Monitor Your Plan

Is your current path the best one?

We meet with our clients at least once a year, if not more. This allows us to review their financial plan and their goals. Like a GPS might want to do a detour based on an accident or traffic jam. We have the same conversation with our clients. It's people's instinct to see a traffic jam and think the best thing to do is hit the next exit and take side roads. What if you were patient and the traffic was very minor, and you were back cruising at 70+mph? We help our clients at each crossroads in their life to make the decision on whether they need to get off, or keep going.

Thats the value of an advisor (or GPS).

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