notebook with my plan

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Maybe you just graduated, recently started a new job or have been working in your career for a few years now.  Whatever your current situation might be, you probably know the feeling of paying all your bills and just having a little bit left at the end of the month. You’re not alone.

More than likely, you’ve heard about financial planning but assumed it was only for people with excess wealth and money to burn. Contrary to popular belief, it could be argued that financial planning is most important when you have less money, and can greatly help in guiding you while you build your assets over time.

It is never too early to start planning for your future, no matter where you stand now. How will you reach your destination if you don’t know where to begin?

Let’s debunk a few financial planning myths for you:

Myth 1: I don’t have money to invest. A financial plan can’t help me.

Not true! Everyone has to start somewhere. Even if you don’t have money to invest now, that doesn’t mean you shouldn’t be planning for your future. If you have more debt than assets, that’s OK too. You should still have a long-range plan to pay down your debt, while also figuring out how to accomplish your other financial goals.

Myth 2: I’m too young to have a financial plan.

You’re never too young to start organizing your finances. In fact, the earlier you start, the better off you will be. Retirement may seem like it’s an eternity away, but you have time on your side. It takes decades to save enough to retire. The more you put away early on, the more time it will have to grow. Once you have a plan in place, you will have a roadmap to accomplish your short- and long-term financial goals.

Myth 3: Financial plans are expensive.

Many financial plans come at a steep cost, but ours do not. We believe that having a financial advisor to help you map out your future is important. We offer financial plans for $600, broken into two $300 payments. If you’re able to transfer assets over for us to manage, the cost for a financial plan drops to $300 total, with two $150 payments. Don’t want to call anyone out, but you probably pay more for your spinning classes each month.

Myth 4: I can find the financial information I need on the internet.

No question, there is a wealth of information on the internet, especially when it comes to finances. Sure, you’ll get endless lists and tips, but you won’t have a human being that gets you, understands your goals and tailors a plan to your specific needs. Knowing an advisor is there charting your path with you can help to put your mind at ease.

Myth 5: I’ll have to do a bunch of legwork before I can meet with someone to develop a plan. Who has time for that?

Don’t let the process intimidate you. You don’t have to come up with a complicated budget spreadsheet, or even pull together all of your monthly bills and expenses. As long as you know what your income is, how much you’re saving, and some goals for the future, that is a great starting point. Our belief is the simpler the better. Putting together a financial plan doesn’t have to be complicated or overwhelming. Managing your money should be easy, so that you can focus your attention on the other important things going on in your life.

Getting a financial plan created early on is extremely important for your future. The hardest thing to do is start, but once you have a plan in place, you can move forward with the conviction that you are headed in the right direction.

You’re a generation of dreamers and big thinkers. We want those dreams to be your reality – now and in the future. You keep plotting and we’ll do our best to get you there. Deal?

Start with a five-minute, free risk assessment here.