Challenge Your Current Financial Plan – Now!

When it comes to your money, isolated decisions and procrastination are rarely your friends.

Whether you think you do or not, you absolutely do have a current financial plan.

Hopefully it’s well thought out and considers such things as efficient purchasing techniques, savings rates, tax treatments, investment risks, access, insurance protections, contingencies, as well as gift and estate planning. Or, your plan might be built on Wall Street’s and your government’s default choices made in isolation and driven by advertising and perpetuated financial myths.

Wherever you are with your plan, you can only benefit from a strong challenge. Worst case, you spend time confirming everything is going well and you sleep great knowing it’s on track. Best case, you find several things that will improve your financial position and makes some changes. Fight the inherent procrastination – your finances are too important to you and your loved ones.

The Challenge Checklist:

  • Do you pay efficiently for your top 5 expenditures?
    • Home(s), Taxes, Cars, Schools, Benefits,…
    • How much are you saving and what’s your investment and taxation strategy?
      • Annual Savings Plan between now and Retirement
      • Present and Future Tax Treatments
      • Access – Withdrawals and or Collateralized Borrowing Capacity
      • Investment strategies
      • How thorough is your Insurance Protection Strategy?
        • What do you insure and why
        • What don’t you insure and why not
        • Do you have an Estate Plan?
          • What happens if….

If this seems like a daunting list that will take a year to cover, you likely don’t have a well thought out plan in place. If it does take a year to get in place, so what. If you don’t start now, like you didn’t start last year or the year before, you’ll never feel good about your plan.

My very self-serving advice; get professional help now. These topics are too complex and dynamic to handle all by yourself. You’ll need a good team made up of an accountant, an estate lawyer, and one or more advisors who are experts in investments, insurance, and overall financial management.

Remember, a person who wants a glass of milk should not sit in a pasture and wait for a cow to back up to them! Take action now – call us.


Written by Mark Guthrie

Principal – Westface Financial and Insurance Services

Securities offered by Mark Guthrie through The O.N. Equity Sales Company, Member FINRA/SIPC One Financial Way, Cincinnati, Ohio 45242 (513) 794-6794
Investment advisory services offered by Mark Guthrie through O.N. Investment Management Company.
Tax and/or legal advice is not offered by Mark Guthrie. Please consult with your tax professional for additional guidance regarding tax-related matters.


Photo Credit: s_falkow

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