Introduction to Financial Planning

Before deciding that one or more of the reasons above applies to you, let's look at the cost of failing to plan. There are many costs, to both you and your family, of not planning. Some include:

• Significant negative income tax consequences
• Significant Death [Estate] Tax liability
• Significant Penalties for Improper Investment Tools
• Disastrous Personal Consequences [e.g., loss of family home]
• Little or no money at retirement
• Confinement to Nursing Home
• Estate passes to Government Not Your Heirs
• May run out of money

All of these are real, yet all of these are often "put off" because they do not seem immediate, or because one may believe there is plenty of time to accumulate wealth "when I hit the lottery" or "when I get that new $ 200,000 job." The truth is, courts are full of cases in which sudden death or disability makes it impossible to reach one’s future goals, or to pass one’s estate onto their heirs.

Scaring people into action is not our goal, but addressing reality is. So let’s examine the field of Financial Planning, in case you someday start thinking about one or more of these costs of not planning.

Introduction to Financial Planning

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Sections Available in Access Financial

Introduction to Financial Planning Ideas of Where to Start Your Financial Goals Financial Planners - Who Needs Them? The Most Important Part of Financial Planning: Why do I Need Goals? Let's Get Started-How? Stocks Mutual Funds Investing in Retirement Funds Investing In Fixed-Income Securities During Retirement, What Planning Should Retirees Do Before They Retire Estate Planning & Financial Planning