The Six Areas of Financial Planning

One of the purposes of a financial plan is to identify those financial areas that could be improved, thereby maximizing financial resources to effectively achieve financial goals.  A comprehensive financial plan covers all six areas.  The Center for Wealth Management, An Office of MetLife, has developed a fully integrated approach to the planning process that culminates in the creation of a customized financial plan.
 

Financial Position:

Do you have enough money to cover your necessary expenses? Working with a Center for Wealth Management Financial Planner will help you determine if you're making the best choices when it comes to your current lifestyle and future expectations.  Taking a look at all areas of your financial life and seeing how they fit together is the crucial first step in creating a plan for the rest of your life.

Risk Management:

If you lost your job, or became disabled, how would you pay your bills?  If something were to happen to you, would your spouse be able to remain in your home? Would your children be able to afford college? Under extraordinary circumstances, the best of intentions can be swept away.  A financial planner can analyze your situation and help you find ways to protect your income and assets at every stage of your life.

Wealth Accumulation:

Are you getting a return on your investments consistent with the risk you've assumed? Do you understand the different options that best suit your individual circumstances?  Through periodic reviews, our Investment Specialist and Financial Planners can help make sure that your investment plan reflects the changes at every stage of your life.

Tax Planning:

Do you know the latest tax laws and how they affect you? Are you keeping as much of your earnings as you can? It's difficult to keep up with laws that change constantly and figure out how complex rules apply to your personal situation.  The Center for Wealth Management, An Office of MetLife, can provide guidance.  While only your accountant or attorney may provide tax or legal advice, we can work with them to coordinate a plan that best suits your needs.

Retirement Planning:

Do you think that you're too young to start planning for your retirement or, that since you've already retired, it's too late to do anything about it? Regardless of your age or life circumstances, working with a Center for Wealth Management Financial Planner can help you adapt to your changing needs to achieve financial independence.

Estate Planning:

After you are gone, are you sure that your money will be used the way you want and go to the people you want it to? Proper estate planning with a Center for Wealth Management Planner and your legal advisor can help you to anticipate your future needs and pass on more of your wealth to your family and charities. With a comprehensive financial plan in place, you can pass on a legacy, not a tax burden to your heirs.