Financial Consultations are a free service that may be painful while discussing, but extremely valuable for solving any money related headaches. When meeting, it’s important to find a Professional you can trust and feel comfortable having important discussions with. The initial meeting will involve discussing your current financial status in terms of assets and liabilities as well as monthly income and expenditures. This information gives the professional an idea of net worth, priorities in terms of cash flow analysis, and further debt management. I focus on finding any gaps that may be present and try to solve them first. Then, find areas where we can utilize the money more effectively. A Budget can be produced from the data and used to effectively select products and strategies to recommend to each particular individual. The Advisor can also look at seeing if you can reduce your tax expenses.
It’s essential to relate your 10 year, 20 year and retirement goals to your Advisor and visit them regularly. By starting with your why and developing long term goals, you can work together to develop a game plan for success. As an Advisor, my next step is to look over the budget. I find adding some cash as an extra expense adds a cushion and gives a more reasonable perspective to the client. From there you must determine a reasonable monthly amount to spend in order to build a foundation towards meeting your goals. It’s important to know it doesn’t matter how much you make or what your financial situation is like as long as you have an open mind to change.
Southern Capital Growth
Cell: (774) 277-1407