Checklists For Financial Success


We say all the time that no two plans are the same. Conversely, no two financial checklists would be either.

Checklists can be a great tool to confirm things get done. Flight crews are a great example of this. Flight crews swear by checklists to ensure things are good to go for safe flying, whether commercial or military.

After a casual intro call, we will look at your current financial situation. We distill the analysis into a one-page financial plan. In plain language, we spend an hour together going over the plan. An essential part of the plan is the recommendation of next steps.

As seen in the above image, these next steps can be philosophical, though they are usually very tactical. They could be, “update you will,” or “consider simplifying your investment strategy,” or “refinance your mortgage for a lower rate.”

A part of our checklist is evaluating your portfolio.

I have long believed that your goals determine your plan, and your plan determines your portfolio.
So, at some point, you will have to choose a strategy.
That strategy could be as “conservative” as owning a bank certificate of deposits to “aggressive” as holding a concentrated portfolio of small moonshot companies.

Everyone’s situation is certainly unique. Most people will not choose a strategy as extreme as the two examples I laid out.
The most important thing is that you need to know what you own, why you own it, & where it fits in your financial picture.

Nobody has cornered a strategy that is the “best” in all types of different markets. With whatever strategy you choose to implement, you need to be content to own it in good times and bad times.
Understand going in, when your strategy should do well and when it should underperform.

By maintaining a long-term relationship with us, we continue to evaluate your plan to audit your goals and see what tweaks may need to happen to your plan. Click here to learn about your Financial Fortress Blueprint.

Information in this material is for general information only and not intended as investment, tax or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.

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