Creating a Financial Plan – One-Page Financial Plan
We discuss three major themes and their sub-points.
Writing your Plan
On Paper, On Purpose
Writing down your financial plan:
- Makes it more likely you will complete your goals
- Helps you remember your plan and reduce re-working the calculations
- Makes it satisfying to complete actions and move toward your vision
Organizing Your Plan
Goals First, Then Plan
- Start with your Financial Vision, where you want to be ideally. The plan will get you there.
- Include all areas of financial planning
- Create Action Items for each category
- Some actions will be simultaneous, others will be sequential
Executing Your Plan
A plan not performed is pointless
- Create due dates for tasks.
- Schedule then you will complete them.
- Connect with professionals (estate planners, insurance brokers, investment advisors, etc) and follow their instructions for accomplishing those tasks.
- If married, work together on some items, divide and conquer others.
You can see a sample financial plan from our friends at La Crosse Financial Planning below. They have also provided a template Microsoft Word document you can download below that.
Email us at Questions@RetireMentorship.com if you need any help.
This article is educational only and is not intended to be investment, legal, or tax advice or recommendations, whether direct or incidental. Again, this is not investment advice. Consult your financial, tax, and legal professionals for specific advice related to your specific situation. Never take investment advice from someone who doesn’t know you and your specific situation. All opinions expressed in this article are the opinions of the people expressing them. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. RetireMentorship is not affiliated with any Registered Investment Advisor, Broker-Dealer, or other Financial Services Company.
