Life doesn’t slow down for anyone, which means there is always plenty of change to keep up with. And when it comes to your money, there are two things that bring that change. First, the markets, which are volatile and confusing, can cause ups and downs in your savings. Second, life transitions and milestones can alter your priorities, causing you to reevaluate your strategies to make sure your financial plan is in line with your retirement goals.
If you haven’t addressed these two points, a financial review could make a world of difference. Does this resonate with you or anyone you know?
Review And Reevaluate
Think of a financial review like an annual physical exam from your doctor to make sure your health is optimal. During our checkup with your friend or family member, we’ll take the time to get to know them and become familiar with their unique financial situation. We’ll ask them to outline their financial goals and review their current plan, 401(k), investment portfolio, insurance policies, and more. We believe that their story is key to our planning process. This initial understanding allows us to get on the same page and start customizing a financial road map to set them on their way toward pursuing their goals.
We’ll also answer any questions they may have about the market, strategies and safeguards, or basic financial tips and principles. Then we’ll combine all their concerns, ideas, and dreams to make sure they line up with their current plan.
It’s Worth It
As life progresses, many changes take place. Therefore, periodically reassessing goals and plans is vital. Once we have a complete understanding of your friend or family member’s current goals and financial situation, we can work together to evaluate and adjust. We will also consider upcoming milestones, such as major purchases, marriage, children, education, or retirement, to determine how their finances in the future might be affected. If we think everything continues to be well suited to their long-term goals despite fluctuations in the market or personal life changes, we’ll gladly tell them so and send them on their way.
If, on the other hand, we discover gaps in their plan and find it no longer fits their financial goals, we’ll explain why without resorting to complicated jargon. And, if they’d like, we’ll recommend some alternatives. It may be that minor adjustments are needed based on their age, current economic woes, or a change in priorities and plans.
It never hurts to have a professional take a second look at their financial plan to ensure that it is up to date, still applicable, and designed to make progress toward their long-term dreams. Regardless of the outcome of our second look, we hope they will have full confidence in us, their decisions, and their financial plan.
Do You Know Someone Who Needs This?
We’re proud to say that many of our clients are referrals from other clients. Over the years, we’ve built strong and long-lasting relationships with clients, who not only trust us to manage their money, but also trust us enough to refer their loved ones. More than just an advisor, we also aim to serve as an objective guide, a shoulder to lean on, a financial teacher, coach, and professional to be relied upon for honest advice. Letting someone else know about your exceptional experience working with Wurz Financial Services is the highest compliment you can give us.
If you know someone who would benefit from a financial review, send them our way, and let us help them evaluate where they are now, determine where they would like to go, and address any gaps that may be apparent. And, of course, feel free to book an appointment for yourself if you think you may be due for a checkup. Send us an email at email@example.com or call 859-291-9879 for a no-obligation consultation, and together, let’s find out if we’re the right people to guide you on your journey to a comfortable retirement.
Darren Wurz is a co-owner and financial planner at Wurz Financial Services, an independent, family-owned and operated financial services firm dedicated to helping its clients transition from their working life to a comfortable retirement with confidence. Darren received his master’s of science in financial planning from Golden Gate University and also holds the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation. He operates the Northern Kentucky/Cincinnati office of Wurz Financial Services and is an active member of the Covington, KY rotary club, the Northern Kentucky Chamber of Commerce, and the Covington Business Council. To learn more about Darren, connect with him on LinkedIn.