Financial Planning FAQ (Part 3)
Are you thinking about utilizing financial planning services in order to help you save and make more money so that you can achieve your goals? Financial planning is absolutely vital and can help to ensure that the financial choices and decisions you’re making are the most beneficial ones for you. Here are some of the frequently asked questions that we tend to receive and our answers to them:
What specifically does financial planning concern?
Financial planning is an umbrella term that refers to many different types of financial-related services. Financial planning can involve retirement planning, estate planning, college planning, financial life planning, financial organization, financial independence, investments, and much more. Financial planning can involve anything that has to do with reducing financial burdens, increasing your wealth and assets, and protecting your wealth and assets.
How often should I meet with a financial planner?
While how frequently you meet with your financial planner will depend on your specific situation and the type of help you need from them and so on, generally speaking, it’s recommended that clients meet with their financial advisors at least once per year in order to check in on their financial progress and to share any updates or changes to their financial situations. This can help to ensure that you are staying on track to achieve any goals that you have, both short-term and long-term.
What’s the difference between retirement planning and financial planning?
Oftentimes people are confused about what the difference between retirement planning and financial planning is, since the two are often used synonymously and people tend to associate them with one another. Simply put, retirement planning refers to investments and financial strategies/plans that pertain to retirement and trying to achieve financial independence. Whereas financial planning refers to all aspects of a person’s financial situation and wellbeing, including things such as college planning, investments, savings, insurance, and so on.