Know the path, walk the path, run the path
Having a successful financial plan is more than just a distant dollar based target. Establishing short-term steps and intermediate objectives contribute to the realization of the long term goals. Having small items such as making an IRA contribution, rolling over an old 401k or reviewing credit card spending, keep the financial plan on track. Intermediate objectives such as loan repayment, home ownership or college funding are important waypoints that can ensure a financial plan is on track. Ultimately, a financial plan is a flexible, iterative process. It will be repeatedly adjusted and updated to reflect life’s many changes. BrightPath Financial Advisors can be an important partner throughout the journey. By performing check-ins and analysis, we can identify opportunities for additional resource allocation. It is also important to broadly review the overall financial plan, for relevance to the client’s life situation. As the plan evolves BrightPath will continue to partner with our clients by introducing new paths, setting-up new targets and ensuring that the plan is still on track.
What is the Final Destination
What are your big goal’s? Most people assume that the result of a financial plan is a monetary target. While ensuring that your plan is fiscally sustainable, it is only one piece of the puzzle. Setting life goals, or the process of determining what you want to do with the accumulated wealth is every bit as important. For some it is a second home, for others it can be charitable giving, an endowment, college funding, a destination. By understanding the objective of the plan BrightPath Financial Advisors can craft a solution and set of steps to support the pecuniary components of your life goals.