Does your financial plan cover all areas of your financial life?
Would you ever take important medical advice and diagnoses from a doctor before going through a thorough and professional health checkup? Of course not. You’d never settle for that kind of malpractice.
Many advisors are eager to take over your investment portfolios and earn commissions by selling some predetermined product before checking to see if the investment or insurance product is even a good fit for YOU!
Some of the areas you’ll want to get checked out include:
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- Your current retirement plan
- Your investment mix
- The ideal time for you to file for Social Security
- Your insurance needs
- Your estate plan
- Your loan rates and terms
- How protected you are from lawsuits
- Your tax liabilities
- Your cash flow and liquidity needs
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Bob and Nancy met with an advisor 3 years ago to discuss how to produce income after retiring but before applying for Social Security. Little did they know; this advisor was incentivized by his firm to sell annuities and didn’t care about anything else. He sold them an annuity without doing a comprehensive review of their financial situation. Last year, Bob and Nancy had a balloon payment due on their house, but all their money was tied up in the annuity. They had to take a huge surrender charge to get the money they needed. A Financial Life Inspection® takes a look at all areas of your finances to make sure only recommendations that make sense are issued.
Back to the original question: Does your financial plan cover all areas of your financial life?
If you can’t answer this question confidently, then we should talk. 34% of us have done nothing to plan for our financial futures. Through your Financial Life Inspection®, Pacific Capital will make sure each area of your financial life is in an optimal position to achieve your goals.
