DCU Financial - Merits of Financial Planning

When financially successful people are asked how they achieved their financial independence they never attribute it to luck, but rather to planning and discipline. It is the successful individual who takes the time, even when resources are scarce or earnings modest, to diligently formulate a short- and long-term plan.

Financial planning is the process of wisely managing your money so you can achieve future goals. Are you hoping to buy a home or business... save for a child’s college education... reduce taxes... retire comfortably? With a plan in place and professional guidance, you can be better prepared to negotiate the financial obstacles that inevitably arise in every stage of life.

Creating a financial plan can help you define your investment profile based on your risk tolerance, financial resources, investment objectives, and time horizon. From this foundation, you can develop strategies tailored to your specific needs. Your investment plan should fit your ideas for the future, and it should also make you more comfortable with the financial decisions you make today.

• Organize and manage your finances. Many of us have complex financial obligations, yet lack the time, expertise, discipline, and objectivity to put our financial house in order. By examining your overall net worth and financial situation and clearly defining your life goals and objectives, you can develop strategies to get the most bang from each dollar you earn and spend. For more specific information, visit dcu.org and click on the tab marked “Investing/Insurance.” Along the left-hand side of the page, you can select a number of links to articles on the many aspects of money management including general investing advice.

• Plan for retirement. What kind of retirement do you want to live? Generating sufficient income for your non-working years is a critical component of retirement planning. But often overlooked is how best to withdraw funds from your nest egg once you retire. It is important to focus your retirement vision, then design a plan to help you achieve it. At dcufinancial.org, you can find retirement-planning articles including “Do You Changing Jobs? What To Do With Your 401(k)” and “Mapping the Road to Retirement.”

• Plan your estate.The terrorist attacks on Sept. 11 prompted many people to establish or fine-tune their wills, living wills, powers of attorney, life insurance, trusts, and other estate-planning documents. A comprehensive estate plan that complements your financial circumstances and your vision of how you want your estate distributed can help you minimize estate taxes and maximize the transfer of assets to your heirs.

With a plan in place and organized finances, you may rest easier knowing you are taking steps to ensure a comfortable future. And you don't have to do it alone. With a Financial Consultant working on your behalf, expect advice and objectivity to help keep you financially diversified, as well as help you remain flexible and focused on your long-term goals. Through DCU Financial you have access to experienced Financial Consultants who will take the time to explain the many aspects of financial planning. A sound financial plan can help you navigate this complicated financial world and make the most of your financial resources.

DCU Financial
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