Tuesday

Why a Financial Plan is Critical

How Net Worth Advisory Group utilizes retirement planning tools to ensure our clients are on pace to live the retirement they envision. Clients and planners can then follow the strategies and schedule determined to best accomplish the goal.

A key component of every financial plan is a retirement projection mapping out the type of lifestyle the client would like to enjoy, and how they are going to obtain their goals. This calculation depends on several key factors: the client’s current age, size of their nest egg, expected retirement date, desired lifestyle during retirement, and a projected life expectancy. Other variables to consider are the rate of return the client’s investments can achieve (both before and after retirement), how much the client can contribute to their nest egg before retiring, and the effects of inflation. Continue…