By Renée A. Hanson
If you’re interested in working with a financial advisor to develop a financial strategy, you may be wondering what the process involves.
Typically, good financial planning includes the following steps:
1. Goal setting. Your financial advisor will ask you questions to help you identify your financial needs and dreams for the future. For example:
- When you envision your future, what’s next for you?
- Where do you see yourself living?
- What lifestyle goals are important to you?
- Do you want to help provide for your children’s education?
- How do you envision your retirement?
- Do you want help to reduce the effect of taxes on your assets?
- Your needs, goals and values
- Current assets and liabilities
- Investment portfolio recommendations
- Retirement plan
- Insurance audit and needs analysis
- Estate planning analysis
- Product recommendations and action items
- Establishing a regular savings program
- Adjusting insurance coverage to meet current needs
- Purchasing appropriate investment products
- Repositioning assets
- Setting up tax-efficient ways to transfer wealth
Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc. Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles. Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI. Please visit: www.reneehanson.com to learn more.