Whether you are at the beginning of your career, or you are approaching retirement, the key to being set up for a strong retirement is to leverage strategic opportunities to optimize wealth accumulation and preservation. And to do that you should start with a plan and a trusted unbiased certified financial planner (not simply the TikTok influencer who has the most views). What does a financial planner provide that doing research on your own doesn’t? Here are a few key principles you’ll address and discuss to ensure you’re reaching your goals.

1. A Holistic Financial Planning Process: Financial planning is so much more than just the numbers — a comprehensive analysis of your current environment is crucial, including all socioeconomic and economic factors, such as assets, liabilities, income, expenses, family situation, etc. By creating and analyzing the full financial picture, a financial planner can offer tailored recommendations to your unique needs and positively impact all areas of your financial life.
2. A Relationship That Keeps You Accountable: Financial planning should be an ongoing process rather than a one-time event. The work doesn’t stop after the first meeting with a financial planner. A good planner will help you simplify complex scenarios into actionable advice to take with you after each session. Having an ongoing relationship is key to helping you stay on track.
3. “SMART” Goal Development: Setting goals for financial planning is more than just quantitative. Qualitative goals that align with your personal values are an important factor as well. To capture all of that, financial planners will help you develop personalized “SMART” goals, which stand for Specific, Measurable, Attainable, Relevant, Time-Bound.
4. Diversify Your Savings: Everyone’s retirement planning is going to look a little different depending on their needs, but a financial planner will emphasize the importance of tax diversification and asset allocation. They’ll help manage three key buckets for retirement savings: tax-deferred, taxable, and tax-free. By diversifying assets and segregating into these different buckets, you can better manage cash flow needs while preserving long-term growth opportunities.
5. Plan Alongside Your Business: If you’re a business owner, your retirement plan might be more complicated than others. By working with a financial planner, they can help work through your business plans to ensure retirement success. Along with your personal goals, key points to discuss are items such as your business succession plan and employee benefits.

Conclusion
It’s critical to take a holistic approach when working with a financial planner, as well as take steps to align financial goals with personal values. Together you can leverage strategic opportunities to optimize wealth accumulation and preservation. Through ongoing dialogue and partnership with your planner, you can navigate the complexities of financial planning with confidence and clarity, ensuring a secure and prosperous future.

For more insights about working with a financial planner, watch our free webinar with our wealth experts recorded in March 2024: Dynamic Financial Planning: Your Solution for Success. Passcode: USB@DFPWebinar24

Want to get started on your financial planning journey? Schedule an appointment with one of our experienced financial advisors who can help ensure you have a proper roadmap to success.