Accumulating money for specific goals is our next step in the planning process.
Financial security means different things to different people. What does it mean to you?
- Enough money to pursue your dreams?
- Paying for your children's college education?
- Paying for a wedding, family trips or a vacation home?
- Early retirement? Or even a retirement with the same lifestyle or better than you
currently have?
- Being able to leave a legacy to your heirs or favorite charity?
Whatever financial security means to you, it begins with a plan for accumulating wealth. The longer you wait, the harder it will be to find the money you'll need to set aside to meet your goals for wealth accumulation.
To get where you want to go in life, it is important to decide in advance how you will get there. Goals are signposts on the highway to the future. They serve as your guide to personal, career, and financial success. By keeping specific goals in view, you can direct your energies toward achieving your goals.
Financial goals are important because they help us to organize and direct our financial lives, providing a framework for decision-making. They can help us cope, provide some control in an environment where many things seem out of control, and help us visualize our financial future.
Do you have children? Then surely you appreciate the importance of planning in advance for their education whether it be for private, elementary and secondary schools, college, a graduate degree, or perhaps a fund to help them get started in their careers.
Unfortunately, too many parents delay doing this kind of planning and are forced to pay for their children’s education out of current income, or loans, rather than investment earnings. Or they may have to accept that they can’t completely fund the education they want their children to have. Have you researched the techniques that are available to pre-fund your children’s education?”
Taxes and inflation plus rapidly escalating college costs will make it difficult to provide a child’s education from cash flow alone. Regular, consistent saving and investments should begin as early as possible to ensure funds will be there when college starts. And at CWA we are prepared to help you with all that.
Virtually any goal requiring a sum of money can be planned in exactly the same way as an educational goal; our financial analysis will cover any such objectives.
