About Financial Planning

Taking Planning Personally

Financial planning is a lifelong process that you create and customize based on your needs, values and personal goals. At Cedar Ridge Wealth Management Group, we believe that identifying and prioritizing your investment objectives enhances your commitment to developing a comprehensive financial plan - one that may make your goals more attainable.

When you create a personal financial plan with your advisor, you've taken one of the first steps toward pursuing the future you want. Your personalized financial plan recommends solutions, or steps to help you work toward pursuing your objectives, and keep you focused on your overall goals. It must be flexible and reflect the changes you and your family will experience over time.

Elements of a Financial Pan

We believe the elements of successful financial planning fall within three key areas of focus.

Preparing your financial plan begins with your financial advisor listening to you and asking questions about your current financial situation in order to:

  1. Gather and organize your financial information
  2. Help you identify and prioritize your goals
  3. Analyze data related to your situation

Based on your personal information and goals, your advisor can:

  1. Illustrate various projections
  2. Propose solutions
  3. Determine strategies and solutions designed to help you work toward those objectives

Once your personal financial plan is in place, that does not mean it is complete. Your plan becomes a blueprint for your financial future and a tool to measure potential long-term success. For your plan to be effective, you, along with your financial advisor, can:

  1. Make informed financial decisions based on a plan of action that addresses your specific financial goals, concerns and needs
  2. Dovetail your plan with your other financial consultants (such as tax and legal advisor) to remain focused on your short and long-range goals.
  3. Review and monitor your progress over the years
  4. Become proactive when addressing changes in your life, your tax situation or financial market conditions
  5. Enhance your family communications and understanding of overall financial goals

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