Financial Planning
“If you fail to plan, you plan to fail.”
- Benjamin Franklin
Many people never get around to planning their financial future because the first step is the hardest; it involves both overcoming inertia and having a blueprint for success. And because many of us never received an education in personal finance and investments, the language is foreign--the numbers daunting.
Financial planning is an integral and complimentary part of our service delivery for new clients with at least $500,000 in investible assets.
With OFA, the financial planning process is broken down into simple steps that will help you organize and prioritize your goals; both short-term and long-term. We’ll look at all aspects of your life and, by developing and following a blueprint, increase the probability of your success.
At Olympic Financial Advisors, LLC, we follow a 5-step process towards financial planning:
1. Gather data and determine your financial position – Gather necessary documents, which may include tax returns, bank and investment statements, retirement plan statements and other financial records. These will be used to develop a snapshot of your current financial position, along with analysis of your assets, liabilities and cash flow, current insurance coverage investments and tax strategies.
2. Develop your financial goals – We’ll work together to develop a series of goals or objectives, based on your current financial situation. Along with these goals, we’ll include timeframes for completion. We’ll also spend time discussing your comfort level when it comes to taking financial risks.
3. Develop and review recommendations – We’ll sit down together to review the financial recommendations OFA prepared, explaining the rationale so you can make informed decisions.
4. Set Your Course – We discuss the options to carry out the agreed-upon plan. You may retain OFA to serve as your coach and advisor while executing the strategy, or agree to part ways and leave the plan execution up to you.
5. Evaluate progress vs. your financial goals and adjust as necessary – As you work towards your goals, we can work together to monitor progress so you stay on track. If you retain us to assist in the execution of the plan, we’ll check in from time to time to collectively review progress and make any necessary adjustments to our plan.
To see if our investment management and financial planning services are right for you, schedule a Get Acquainted meeting.
To see if our investment management and financial planning services are right for you, schedule a Get Acquainted meeting.
All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment strategy or plan will be successful.