Financial Plans And Why You Need One

Are you unsure if you’ll be able to reach your financial goals in the future? Do you have a clear picture of your current wealth and how it will progress?

A financial plan can provide you with insight into both these questions. It’s a document that takes stock of your current financial state and projects into the future so you have an understanding of your finances in years to come. It typically includes short, medium, and long-term goals, as well as strategic action you need to take to achieve them. 

Without a plan in place, you may have an inaccurate picture of your finances and make poor decisions as a result. If you overestimate your assets in the future, for example, you may feel comfortable splurging on an expensive car or house that you can’t actually afford. Similarly, you may miss out on opportunities to increase your wealth to ideal levels because you weren’t aware of strategic action you needed to take.   

At GEPC, we can help you with financial planning. As part of our family financial planning service, we’ll do a thorough review of your finances and provide you with a gap assessment. The latter will highlight areas that need improving so you can take action now to improve it. We’ll then develop a plan that will allow you to reach your goals. 

Picture this: you invest in our financial planning service and become aware that in order to reach your wealth goal by retirement, you will need to invest $5,000 per year in the stock market. You start doing so this year. Because you’re taking action now, you’ll be able to reach your retirement fund goal by the time you turn 65. Money won’t be a source of stress for you. 

This is the ideal. It can become your reality if you put the effort into making it happen now. Schedule a free consultation at gregevans.ca to learn more about how we can help you reach your personal financial goals. It all starts with a conversation.