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Bluffton, OH 45817

07/18/2017 – The Many Facets Involved in Financial Planning

There are so many facets involved in financial planning.  

Having assets protected through judicious use of insurance.

  • Having a budget that assures your income outpaces your expenses.
  • Having assets titled or owned in the proper way for tax efficiency, as well as for passing them on to loved ones in the best way possible.
  • Having necessary estate documents, such as living will, power(s) of attorney, wills, and possible trusts.
  • Considering whether you will outlive your money - and finding ways to be assured of adequate income in retirement.
  • Protecting yourself from surprise IRS penalties, which can happen when tax-qualified money is distributed without attention to IRS rules.
  • Understanding what might come to you by way of inheritance - and preparing to receive it correctly to avoid possible penalty or excessive tax implication.
  • Knowing where to get advice -- since it is very hard to be experts in every facet.

These are all important aspects of financial planning and, at Faith Investment Services, we are skilled at answering your questions in these areas.  Sometimes you don't even know what to ask -- until you begin a conversation. Don't wait until you are in the middle of retirement, receiving an inheritance, facing a medical issue, or other "crisis point" to schedule a no-cost, no-obligation conversation. It could be the most important thing you do today!

Another area that most folks overlook is passing on the "other inheritance." Your values, morals, guiding principles, and family legacy. We think that is just as important as money, if not more so.  Because it is important and many people don't know where to start, we are offering our clients and friends a free subscription to Everplans.  Check out this section on "How to write an Ethical Will" -- and if the idea resonates with you, email us at kdunlap@cfdinvestments.com to ask for your own complimentary subscription to Everplans.

https://www.everplans.com/articles/how-to-write-an-ethical-will