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Customize Your Financial Plan With Goals

When creating a customized financial plan to help you reach your financial goals, we recommend that you consider short-term, mid-term and long-term goals. Here are some examples:

Short-Term Goals:

Emergency Fund – Do you have 4 to 6 months of liquid assets in case of emergency?
Wills & Trusts – Wills and trusts are important documents to have in place, no matter how much you’ve accumulated in net worth. These legal documents will protect you and your heirs in the event of your death.
Life Insurance – Whole life insurance serves as an asset before and after your death. Term life insurance can also be valuable in minimizing risk.

Mid-Term Goals:

Accumulate Wealth – During your working years, accumulating wealth is critical to your financial success. A good portion of your wealth can come from income, but it might also come from other sources including earnings on your investments.
Pay for College – Tuition costs continue to rise, and families must prepare for them long before their kids go off to school.
Start a Business – Has it always been your dream to own your own business? If so, this might be a mid-term goal for you.

Long-Term Goals:

Retirement –After your working years, you’d like to retire with a certain lifestyle, so you can finally do all of those things you’ve been dreaming about for years – summer and winter homes, travel, spending time with your family.
Sell Business – Now that you’ve built a successful business, it is time to think about selling it to an outside company or business owner, or perhaps passing it onto someone within your family.
Leave an Estate – For people like you who have accumulated wealth, you would like to leave an estate to support your family when you’re gone. With the right planning, this long-term goal is achievable.

What are your financial goals in the short-term? mid-term? long-term? Do you know how to get there? If not, the relationship managers at Synergetic Finance can help.


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