STAGE I | PLAN FOUNDATION: ORGANIZING YOUR MONEY
This first stage of planning is geared towards our ability to provide a prognosis of overall financial health and reasonable wealth projection for you. Stage I planning forms a foundation that allows us to establish the most essential elements of a solid financial plan. Stage I planning provides a simple way to benchmark and measure your progress. If we determine your foundation is strong enough we will then begin “Advanced Wealth Building Strategies” in Stage II of our planning process. This Money Organizer Plan is done in 4 simple steps and includes assistance with implementation.
The 4 steps are as follows:
ONE: Emergency Fund and Asset/Income Protection Strategies
- Establish an emergency fund, generally 1 month of net income
- Establish proper insurance coverage on you and your assets
TWO: Cash Flow and Debt Elimination
- Cash management and “stress-free” budget development
- Debt strategies and debt elimination
THREE: Cash Reserves and Short Term Goal Planning
- Build a cash reserve fund equal to 3-6 months of net income. We will assess your situation and discuss a target number of months
- Ensure adequate safety and liquidity for near term capital needs
FOUR: Invest for Medium to Long Term Goals and Maximum Wealth Potential
- Establish appropriate investment and savings habits by making disciplined monthly contributions to best address your overall financial objectives (i.e. retirement, college, vacation home)
- Forecast best opportunity for wealth creation. This will help you determine what areas of your finances you need to adjust today in order to give yourself the best chances of reaching your financial goals in the future
Fee for Stage I plan is between $500 and $700 and is due at the first meeting upon execution of plan agreement and delivery of Money Organizer Plan. Renewal fees are assessed each time an update is conducted and can be discounted from the original plan fee.
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