Financial Goals
• Short-term are those you hope to achieve in the next five years – such as paying off debt or buying a new car.
• Medium-term goals are those you hope to achieve in the next five to 10 years such as the down payment on a home or starting your own business.
• Long-term goals are those that are 10 or more years away including college and, of course, retirement.

Net Worth Statement
• List your asset (what you own)
• List your liabilities (what you owe)
• Subtract your liabilities from your assets to determine your personal net worth.

Cash Flow & Debt Management
• Analysis of income, expenses, and debt
• Identify areas to increase efficiency.
• Prioritize excess earnings toward goals.

Retirement Planning
• Clear picture of retirement
• Accumulation strategies
• Distribution planning
• Limit taxability of retirement assets so earning last

Family Risk Management
 • Use of insurance products to mitigate unpredictable life events.
 • Insurance products include life, disability, and long-term care.

Education Planning
 • Investing in the future of children and/or grandchildren
 • Analyze affect of investments and savings on financial aid and/or ability to receive assistance.

Legacy Planning
 • Ensures client wishes are carried out when they die
 • Minimize potential taxes and maximize asset left behind
 • Also called Estate Planning

Business Planning
 • Plan for current as well as future business
 • Consider tax implications of legal entities
          - Business structure
          - Retirement plans
          - Compensation
          - Business insurance

Emergency Planning
• Put aside some money about the equivalent 3 to month’s living expense.

Example:
- If something unexpected happen to you, having the money you need to pay,

- Medical bills
- House (roof, pipe etc)
- Car repair

Estate Planning
• Provide financial security for your family.
• Ensure that your property is preserved and passed on to your beneficiaries.
• Avoid disputes among family members, business owners or third parties (such as the IRS)

Special Situations
• Have funds set aside for special event and purchases.

Examples include:
 - Wedding
 - Vacation property
 - RV purchase
 - Care of loved ones