Financial planning helps clients clarify financial and life goals and develop a plan to achieve them. The process gives a big picture view of a client’s financial situation to allow a planner to make appropriate recommendations.  The financial planning process covers retirement, estate, college savings, tax, insurance, investment, and charitable planning.

Financial planning provides direction for making financial decisions and clarifies how each decision can affect other areas of your finances.  With a comprehensive financial plan, you can adapt more easily to life changes and feel more secure that your financial goals are on track.  The planning process helps you become more confident and in control of your finances.

Fee-only indicates that you pay a financial planner directly for their services.  This means the planner does not receive commissions or other payments from the providers of financial products they recommend to clients.  An independent, fee-only planner is impartial and makes recommendations that are in your best interest.

Financial planners charge on an hourly basis or as a comprehensive plan fee.  The best planning is comprehensive, and includes all aspects of a client’s financial picture and how all parts inter-relate.

Although there is no set amount for saving because it varies with age and income level, it is important to have, at a minimum, a solid emergency fund of 3-6 months of living expenses.  The next step in savings should be to a qualified retirement plan.  Comprehensive financial planning can help determine the amount you should be setting aside for retirement and for future expenses.