What is financial planning?
After the divorce settlement is in the process of agreement a Certified Financial Planner ™ to act as a fiduciary at all time when offering financial advice. The CFP® will help you achieve your objectives by taking an inventory of your assets and liabilities and creating an action plan to meet your short- and long-term goals. Certain educated assumptions will be made which may include future income, expenses, rates, investment allocation. In addition, the 3 step process includes:
- Determining your current situation and developing financial goals
- Identifying alternative courses of action and evaluating scenarios
- Creating and implementing a financial action plan and updating the plan quarterly
At the end of the engagement we will be sure to review that the following areas are aligned to your goals;
- Cash flow and bill payment tracking
- Debt management
- Investment allocation
- Financial independence
- Risk management
- Estate & Tax planning