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Why you need a plan to manage your Finances...


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Regardless of where your finances stand, if you have a great financial plan in mind or in effect, things are bound to change!


A financial plan gives you a blueprint with clear instructions of how things can be progressed as you go on with your daily routine and earning in order to get where you need to be.


What kind of financial plan would be best?



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The best plan suited to you and your needs, completely depends upon your preferences based on various factors you want to consider. Such as: Growth opportunities, Contribution/Withdrawal flexibility, loan options, what is your goal when it comes to taxes, for what you would like to use the funds for later, or even how much you earn as income.


From retirement plans like 401k and IRA's you can start now by talking to your employer about the benefits they offer with such plans.


You also have non-retirement/Voluntary plan options like investing in Stocks under companies like Fidelity, Broadridge, Primerica Etc.


Click here to learn about retirement plans.


Click here to learn about IRA's


What consists of a good Financial Plan?


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  1. Financial Goals: Be it short-term or long-term. Financial goals help you to understand and plan what your finances look like based on what you go for.

  2. Knowing your Net-Worth : Make a list of all your assets, including bank balances, Real estate, or any valuable personal property, that can determine your net worth statement.

  3. Budget and flow planning: Its important to know where your hard earned money is going in terms of growth and decline. Knowing this can help you determine where you need to focus on or cut back in order to stay consistent.

  4. Debt Management: Creating a plan that consistently not only manages your debt but helping to clear it off creates a balance! Learn more

  5. A suitable Retirement Plan: Knowing how much to invest and where to have it, is always a smart idea to spend your golden days in peace!

  6. Emergency Spending fund: You never know what may come in the future and you want to be sure to secure you and your loved ones with a suitable retirement plan to make sure everything is covered when you need it the most!

  7. Insurance plans and Coverage

  8. Planning your will: ALWAYS have a will planned if you don't want your loved ones to struggle trying to figure things out on their own if anything happens to you (god-forbid)


Why should I start a plan?


To make this simple here is a list as to why starting a plan is the smart way to go:


  1. Brings Clarity for your Financial Goals

  2. Staying Accountable of everything going on

  3. Staying up to date regarding the reality of your finances

  4. You have less to worry when it comes to money

  5. Satisfaction in investing makes you more smart and more aware of everything

  6. Healthy Balance!

What if I have a debt?


There are so many cases where people are hesitant in starting a plan due to debt. Let me tell you something, having a debt should not stop you from trying to invest in good options as the worst that could happen is you having zero balance in your funds but no negative!


If you want to know in depth of planning and how to get into investing, speak to an advisor, broker or agent.


There are so many programs available which can help you not only manage your debts but also advise you into clearing it off!


Click here to learn more about resources available to you to help manage your debt.


Always be sure to speak with an Attorney, Financial Advisor, Tax Advisor, Agent or Broker about in depth analysis of managing your finances and depending on where and what you invest in.


Hope this helps!









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