Comprehensive Financial Planning for Your Future

A successful financial plan encompasses much more than portfolio performance. It serves as the pathway that takes you from your current financial standing to where you aspire to be. That’s why the Momentum Wealth Management financial planning process begins with forging a strong relationship between you and your financial advisor. We partner with you to understand your goals and help you prioritize and organize your financial decisions, allowing you to achieve greater peace of mind and live life on your own terms.

Financial Planning starts by organizing your finances and investments, providing a clear picture of your net worth. From there, we identify your most important life goals to prioritize your spending and saving. Considering investments, insurance requirements, estate plans, and tax strategies, we help you create a budget to cover today’s needs, anticipate future circumstances, and chart a path to future rewards.

Our comprehensive financial planning process involves crafting a tailored financial plan that accounts for assets, debts, personal risk tolerance for investments, major life event expenditures such as dependent education costs, and the tax implications of future decisions. We achieve this through thorough retirement planning, which includes modeling and analyzing income, expenses, and strategies to understand the financial impact on long-term goals. When your comprehensive financial plan is implemented, our objective is to ensure all financial considerations align to help you reach your goals.

Dimensions of Comprehensive Financial Planning

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

Single-Faceted vs. Multi-Faceted Financial Planning

A single-faceted financial plan or a point-in-time plan provides a snapshot of your financial situation at a specific moment, offering limited foresight and adaptability. In contrast, proactive, multi-faceted, and comprehensive financial planning involves continuous evaluation and adjustments under the guidance of a Certified Financial Planner (CFP®). This approach considers all aspects of your financial life, providing a holistic view and strategic direction for achieving long-term financial success.

The Power of Financial Planning Over Time

The impact of financial planning on the future value of a client's wealth can be profound. Consider two scenarios:

‍1. Clients Without Planning: Without a strategic financial plan, clients may face unanticipated financial challenges, inefficient tax management, inadequate risk protection, and missed opportunities for wealth growth. The lack of structured planning often results in lower wealth accumulation and limited options for wealth distribution and transfer.

2. Clients Who Embrace Financial Planning: Clients who engage in comprehensive financial planning experience greater wealth accumulation, optimized tax strategies, effective risk management, and well-structured wealth distribution and transfer. Proactive planning provides a roadmap for achieving financial goals, ensuring that every financial decision contributes to their long-term success.

Foundational Elements of a Comprehensive Financial Plan

A robust financial plan includes the following foundational elements:

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

At Momentum Wealth Management, we believe that comprehensive financial planning is the cornerstone of financial success. By partnering with you, we aim to create a tailored financial strategy that not only addresses your current needs but also anticipates future opportunities and challenges, guiding you toward your financial aspirations.

Any reference to Tax or Legal:

The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

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‍Insurance:

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

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Comprehensive Financial Planning for Your Future

Dimensions of Comprehensive Financial Planning

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

Single-Faceted vs. Multi-Faceted Financial Planning

The Power of Financial Planning Over Time

Foundational Elements of a Comprehensive Financial Plan

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

Comprehensive Financial Planning for Your Future

Dimensions of Comprehensive Financial Planning

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

Single-Faceted vs. Multi-Faceted Financial Planning

The Power of Financial Planning Over Time

Foundational Elements of a Comprehensive Financial Plan

Budget and Tax Management: Assessing your current income and expenses, and projecting changes over time.

Liquidity Management: Ensuring you have assets that can be quickly converted to cash if needed.

Large Purchase Financing: Determining sufficient funds for down payments and understanding financing capabilities.

Risk Management and Insurance Planning: Identifying which assets need protection and the extent of insurance coverage required.

Investment Planning: Developing strategies to grow your wealth through diverse investments such as stocks, bonds, mutual funds, and real estate.

Retirement and Estate Planning: Planning for when you can retire and determining who will inherit your assets.

Bookkeeping and Record-Keeping: Keeping accurate, safe, and accessible financial records and communicating your financial wishes to family members.

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