Financial Planning is the evaluation of your current and projected financial situation in order to develop a series of steps necessary to successfully achieve your financial goals. Financial goals vary from client to client but typically include things such as planning for retirement, paying for higher education, minimizing taxes, and providing for family in the event of disability, incapacity or death. Importantly, as every client is unique, Caratel’s plans can easily incorporate all factors that may impact your plan. The financial plan is a work-in-process and needs to be monitored and updated on a regular basis. Constituent parts of a financial plan typically include:
Development of Financial Goals
Portfolio Review & Design
Financial planning is a process. We take the time to completely understand your current financial situation and your financial goals as well as what you anticipate will occur. We then use financial modeling software to evaluate the likelihood of your achievement of those goals and suggest action-items that will increase the likelihood of success. Additionally, as we are unable to accurately predict the future, we work to ensure success even if things don’t go as planned. We present our findings and recommendations to you for your approval. We then offer to implement, monitor and update your plan on a regular basis.