With a world of information at our fingertips, we can find reviews, history, product specifications, and more details than we’ll ever need about anything we want to buy. In other words, before making a major purchase, we can arm ourselves with information to make the best choice possible.
While creating a financial plan is in a different category than buying a car or putting an offer on a home, we believe it’s just as significant of an investment and you should know what you’re getting before you pay a penny.
Because we develop custom financial plans for each client, it’s no easy task to provide one without working with you extensively. However, we wanted to create something that could help you better understand what your potential financial plan could look like so you can see the benefits a plan could bring to your financial life. If you choose to work with us, here is a sample of what you can expect.
What Does A Financial Plan Include?
First, you may be wondering about what goes into a comprehensive plan. Financial plans often address a myriad of concerns and goals, from college planning to retirement income strategizing. Depending on your needs, your plan may narrow in on one element or address multiple goals you’d like to achieve over time. Whatever you choose to focus on, your financial plan is designed to serve as your road map, helping you navigate the years before, during, and after your transition to retirement.
We believe a good financial plan should give you a detailed, complete view of your current financial situation, a thorough modeling of where you want to be, and the actions you need to take to reach those goals. It should address all the pieces of your financial puzzle, from stresses and fears to your values and dreams, and include risk factors, cash flow, retirement, estate planning, taxes, education, and income strategies to help bring you clarity and guidance. It is through our planning process that we can help you prepare for life’s expected and unexpected circumstances.
The result is a simple yet powerful road map to guide you toward financial freedom.
See A Sample Financial Plan
The following sample plan looks at a fictional client’s lifestyle income plan and how we developed it, including identifying their goals, creating a balance sheet, reviewing their cash flow, and more.
Keep in mind that this is only a hypothetical plan presented to illustrate what a client’s plan may resemble should they work with me. The characters and circumstances are completely fictional and are for illustrative purposes only. Be sure to seek the advice of a qualified professional for your particular situation and not rely upon any of the information herein to make personal financial decisions.
We provide an overview of your current situation. With just one glance, you can see a big picture of your financial life, including assets broken down into specific categories and short-term and long-term liabilities.
Next you see a customized cash flow calculation based on your current financial state and estimated retirement age.
Then your plan will go on to analyze every piece of your financial puzzle, showing detailed projections for income, expenses, assets, and mapping your progress toward your goals. This will show you where you will stand in retirement and give you something to aim for as you draw closer to your retirement years.
In addition to a detailed study of each of your goals and a clearly mapped-out plan to get you there, we also create a risk management plan to cover your bases and give you increased confidence. The end result? An actionable implementation list and a road map for your future.
Get Started On Your Plan!
If you want to see even more features of our financial plans, download our full sample plan here. Once you’ve taken a look, reach out to us at Nichols Financial Strategies today to schedule a no-obligation consultation, and together, let’s find out if we’re the right people for you to depend on during your journey to a comfortable retirement. Contact us at 559-440-6999 or by email at firstname.lastname@example.org.
T. Matthew Nichols is founder, CEO, and wealth advisor at Nichols Financial Strategies with more than 20 years of experience in the financial industry. He spends his days serving business owners and families, specializing in helping those in the agriculture industry proactively prepare for the unique challenges they face in a rapidly changing economy. Matt is an Accredited Investment Fiduciary® (AIF®) and holds his FINRA Series 7 and 63 securities registrations with LPL Financial and his California State Life & Health Insurance license. He’s also pursuing his ChFC designation and is dedicated to continuing his education and staying abreast of the latest financial trends and strategies. Matt’s mission is to help his clients transfer wealth from one generation to the next and work toward achieving their goals so they can spend more time on what they love most. Matt was born and raised in the California Central Valley and resides in Fresno with his wife, Christy, and their two daughters, Holly and Jillian. He enjoys golf, traveling, skiing, and spending quality time with his family. To learn more about Matt, connect with him on LinkedIn.