Financial planning is the process of meeting your goals in life through proper wealth management. It helps you make advance provisions for your financial needs that will arise in the future. The goal of financial planning is to ensure that the right amount of money is available in the right hands at the right time in the future to achieve your life’s goals.

A financial planner is a professional who uses financial planning to help you determine how to meet your life goals. The primary function of a financial planner is to help people identify their financial planning needs, their present priorities, and the financial products that are most suitable to meet their needs.

No. Investments are not guaranteed since they carry a certain amount of risk. All investments may lose money, including the possible loss of principal. That being said, our financial advisors will work closely with you to build real diversification into your portfolio.

A financial planner works for you. His or her loyalty should be to the client and not the product he or she is trying to sell. 

At GamePlan Financial, we firmly believe that being independent is the best way to give clients objective advice. We do not have limitations or requirements to use certain investment products or solutions. This allows us to create customized financial plans designed for our clients.

Consider your visit with a doctor. Without complete and fully accurate details, your doctor cannot prescribe the best medical solution for you. The same applies to financial planning, if you want to get the best service for your “financial health,” all details and specifics must be disclosed.

Evaluating your insurance needs is part of financial planning. Insurance takes care of your unpredictable needs, and because these needs can arise at any time, insurance is vital. Investments take care of your predictable needs and ideally should follow after your unpredictable needs are addressed.

The answer depends on many factors such as your age, circumstances, goals, and values. If saving isn’t your habit, the important thing is to get started at a manageable level and then strive to increase that level whenever possible. Always make sure you are contributing enough to receive any company-matching contributions to retirement plans.

You need to stay actively involved in your financial plan. Executing your financial plan is like a sports team approach. Your financial advisor is like your coach or manager. They execute your investment strategy. 

Moreover, communication and following up with your planner will help you adjust your roadmap to maintain the lifestyle you choose

Financial planning covers all aspects of a person’s financial well-being. It includes savings, retirement, investments and college savings plans, insurance coverage, and estate planning. In contrast, retirement planning covers only investments made for retirement.

Asset allocation is the diversity of your entire savings and investment portfolio across asset classes. Stocks, bonds, cash, and real estate, are some examples of asset classes.