Although financial plans do not have a generic template, these plans typically consist of an investor’s future life goals, future wealth transfer plans and future expense levels. Extrapolated asset values determine whether the client has sufficient funds to meet future needs. A good financial plan can alert an investor to changes that must be made to ensure a smooth transition through life’s financial phases, such as decreasing spending or changing asset allocation. Financial plans should also be fluid, with occasional updates when financial changes occur.

ELEMENTS OF A FINANCIAL PLAN

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The August Wealth Management Group Is A Fee-Only Financial Services Firm, Offering Asset Management, Financial Planning, Corporate Retirement Services and More, To Individuals, Families And Corporations.

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