By: Tom Kirk
When sailing across a large body of open water you must start with a plan or there is little likelihood you will arrive safely at your destination. Along the way you must also monitor your progress and make adjustments for changes in currents, wind direction and speed. By doing so, you become increasingly confident about your expected time of arrival at your destination.
The same is true about your journey to the financial future you have in mind. Without a WealthPlanTM that contemplates what you have now, what you will need later and how you are going to get there, your financial future is at great risk. But a static plan is not much help either.
Adjustments to your WealthPlanTM will obviously be necessary when that job you were expecting to retire from is being phased out. Or, when a hurricane pays you a visit and damages your home. Or, when you are happily surprised to learn you will be receiving a large inheritance. Or, when your investments have done a lot better (or worse) than expected over the last few years.
By periodically updating your WealthPlanTM you can respond creatively to life’s unexpected events: big and small, positive or negative. This periodic update is critical even if there has not been a recent life changing event, for without it you can drift slowly off course without enough time to make corrective adjustments. But by adjusting your strategies and actions in response to the ebbs and flows of life, the accuracy of your forecasted financial future increases as well as your confidence about when you will arrive there.
What’s your WealthConfidence? Score yourself here and discover the eight mindsets that contribute to improved WealthConfidence. Take advantage of the many other free resources available on our web site at www.firstwavefinancial.com and call us to schedule your complementary initial consultation at 321-773-7773.
You should not assume that any discussion or information contained in this publication serves as the receipt of, or as a substitute for, personalized investment advice from FirstWave Financial. A copy of the FirstWave’s current written disclosure statement discussing our advisory services and fees is available upon request.