Perhaps one of the single largest questions people face in life is, “How will I provide for my family’s needs today and in the future?” At Finish Line Insurance Services we believe the best way to begin answering that question is to develop a plan. The first step to developing any financial plan is to first perform a Needs Analysis.
At Finish Line Insurance services we sit down with families regularly to determine the needs they currently have, and the ones they should plan ahead for. Let us introduce the conversation by giving you a window’s look into a simple Needs Analysis so that you can be prepared when you meet with us.
First we gather information. Answering questions like: How do you feel about your career? What is most important personal goal? What is your most important financial goal? These questions are pertinent in identifying the goals we plan to accomplish together.
After gathering the information the next logical step is to openly establish what your primary goals are, then your secondary goals. This gives us an order of priority. This is the step many people overlook as they grow older but we feel it is very helpful in doing this multiple times as you enter different stages throughout life. Your goals change as you age and build both business and families, therefore re-establishing your financial objectives is a logical step in the process. When it comes to managing your family’s affairs responsibly, having separate accounts for specific purposes should be the initial mindset.
Now to the fun part of developing a plan for your estate planning. You should expect to have a sit down conversation with members of our team regarding; Savings, Emergency Funds, Current Assets, Retirement plans, and Life Insurance. You see, products like life insurance, IRA’s, and other retirement plans are not the same as they once were, as one size fits all estate planning products. As a quick example, today’s life insurance comes in all varieties, most of which can be adjusted as your priorities change. Most companies offer upwards of 20 different forms of life insurance products and then 20 different riders that clients can add on, in order to tailor a plan to their unique circumstances. The possibilities are endless and therefore meeting with an expert is very valuable in both time and money saved.
Putting these financial plans into action is the most difficult step most of us encounter when developing a program. If you don’t believe the plan set forth is the best plan for you, or if you believe there might be a better answer out there with your name on it you may decide to put your planning on the back burner. Unfortunately what typically happens is that most people never take the step of action and end up years later regretting their procrastination.
At Finish Line Insurance Services we simplify the process of implementing plans for our clients. Many folks prefer to move in slow methodical steps in order to gain trust and understanding of the financial programs we create and that is completely understandable. We are willing to work with your pace and realize that it’s the long term relationships that are valued most, either way we will get you to your financial finish line. At Finish Line Insurance Services we are here to provide guidance throughout today, tomorrow, and your future to come.
