Mitlin Minute: What Is A Financial Plan?

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

What Is A Financial Plan? A financial plan is paramount to a family’s financial success.

During periods of volatility we often hear that investors should “stay the course”, but what does that mean?

Is there a course to stay without having a financial plan? We feel that there seems to be a misconception that having an investment game plan is synonymous with a financial plan, and it is not.

Financial planning, having a plan, is so much more than investments and should address areas such as retirement planning, estate planning, education planning, risk management, asset allocation review and cash flow planning. This is by no means an exhaustive list or one that everyone needs to use. The areas covered within the plan will differ from one to another depending on what is important to them and what they need to address. The plan will help you navigate financial events and evaluate how those events may impact your financial situation.

The plan is based upon your goals and dreams for the future, short and long term.

These will most likely change over time as your personal situation changes.

This means that putting a plan together today and not reviewing and updating it from time to time will do you no good.

The plan is simply a snapshot of how things look for you at the point in time it is completed.

This is why it is important to consistently update and review your progress towards your goals, are you on or off track.

Please contact us Mitlin Financial, Inc. if you need help or advice
☎️ 1.844.4.Mitlin ext 112
📧 info@mitlinfinancial.com

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Cope Notes® with Johnny Crowder, Episode #82

Johnny Crowder is the founder and CEO of Cope Notes®. As a suicide/abuse survivor, Johnny spent his formative years searching for resources to help him cope with his mental health conditions, ranging from OCD and Bipolar Disorder to Schizophrenia. Johnny’s firsthand experience with mental i …

The Confess Project with Lorenzo Lewis, Episode #81

Born in jail to an incarcerated mother, Lorenzo struggled with depression, anxiety, and anger throughout his youth, to the point of being at risk of re-entering the system. From this, Lorenzo grew “The Confess Project,” an initiative that confronts the stigma around mental health for men of …

Why I Am So Passionate About Mental Health?

May is mental health awareness month, but truth be told it should be a year-round focus.  Those of you who have known me on a personal level have a pretty good understanding as to why I am so passionate about this and others may have an idea, but it is time that I share with …

1 2 3 116 117 118

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation

TweetsFollow Us