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Colin OShea

July 24 , 2017

Investment Basics: Getting the Most Out of Your Resources


If your financial situation has recently changed for the better, you may have some questions about how best to manage your money. You probably want to know how you can preserve and enhance your finances, minimize your tax burden, and make sure your loved ones will be protected financially.

Financial planning may be the answer. A carefully crafted financial plan can help you simplify and coordinate many aspects of your financial life. It can also help you map out the steps you need to take to improve your chances of getting to where you want to be financially. Here are some of the ways a financial plan can help.

Your Own Investment Roadmap

A financial plan can help point out the direction you need to take to achieve your investment goals. There will be unplanned detours, of course, since the investment markets are unpredictable. Still, a good financial plan will help keep you on track to your eventual destination. If you lack the confidence or the time to manage your own investment portfolio, an investment management account may be what you need. In that case, our investment professionals will work with you to choose the investments that match your goals, risk tolerance, and your time horizon — the factors that are critical to long-term investment planning.

Your Peace of Mind

Insurance protects you financially from the consequences of unexpected events. Having sufficient life insurance helps ensure your family will be financially secure in case of your death. And owning short- and long-term disability income insurance policies can go a long way toward protecting your income should you ever become disabled. The skyrocketing costs of quality long-term care can be less of a concern if you buy long-term care insurance. However, such insurance can be costly and coverage options vary widely. An insurance review should be an essential part of your planning.

Your Gift to Your Loved Ones

Estate planning helps you develop a plan to transfer assets to your loved ones in a tax-efficient manner. With the aid of your attorney, you can create a trust that would minimize the impact of estate taxes while ensuring that your loved ones receive your assets in the manner and at a time you decide.

Do You Have?

  • Clear financial goals

  • A plan for reaching your goals

  • A spending plan

  • Three to six months of expenses in an emergency fund

  • Adequate life, disability, and long-term care insurance

  • Investments that are right for you

  • An up-to-date estate plan

If you have any questions on the above article, contact Security National Bank Wealth Management below. 

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