The Key to a Solid Financial Plan

Today, we’d like to focus on the steps to building a solid financial plan to help you prepare for potential obstacles and changes that could be waiting down the road.

Starting with simple, basic strategies can help you achieve and maintain a solid financial foundation, face a financial emergency with confidence, and set the stage for a happy and secure future.

Since everyone’s situation, goals, and risk tolerance are different, no two financial plans will look the same. In general, however, financial planning boils down to these 3 key steps.

Step 1. Protect Today: Giving You Peace of Mind

One of the most important assets you have today is your ability to produce income and earn a living for yourself. Frighteningly enough, sometimes this asset can suddenly vanish due to unforeseen injuries or illness. If you don’t have the appropriate insurance coverage in place, an accident or illness could mean the difference between prosperity and struggle. A strong strategy of protection is the foundation of a solid plan. Gain confidence in your future by building a strong foundation and taking care of your most valuable assets– you & those you care about.

Step 2. Maximize Tomorrow: Today’s Discipline Defines Tomorrow’s Paycheck

Tomorrow can mean many things to many different people. For you, it could mean traveling the country in an RV at 65; but for your daughter, it could mean being able to purchase a home before 30. While it is vital to create a solid protection strategy, everyone must shift focus to creating a plan for the future, paying yourself first, and keeping expenses reasonable to support the goal of financial security.

Step 3. Impact Eternally: Leave a Legacy to Remember

The financial journey you plan will eventually have an end. Just as the end of a book, you get to decide how you want to impact those who experience it. With the proper strategy, you don’t need to choose between having a comfortable retirement or leaving behind a lasting legacy– they can actually work together! A sound estate plan will minimize future estate taxes and maximize wealth for you and future generations. Plus, understanding and directing wealth transfer ensures that you are in control and up to date.

If you’re curious about building the foundation to a solid financial plan or reviewing your existing plan, contact us today! One of our LSB+ team members will reach out to you and follow up with specific solutions tailored to you. If you have additional questions on how to protect today, maximize tomorrow, and impact eternally, you can reach our team at [email protected].

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Insurance/Trust Products: Not FDIC Insured | No Bank Guarantee | May Lose Value | Not a Deposit | Not Insured by any Federal Government Agency