If you are in the late-stages of your financial journey, it is important to start planning now
The sooner you start planning, the better off you will be in the long run. Here are some of the key areas that late-stage financial planning can cover:
- Budgeting: Reviewing and adjusting your budget to account for your changing financial needs.
- Saving for retirement: Re-evaluating your retirement savings goals and strategies.
- Investing: Reviewing your investment portfolio and making sure it is still aligned with your goals.
- Insurance: Reviewing your insurance coverage to make sure it is still adequate.
- Tax planning: Reviewing your tax strategy and making sure you are taking advantage of all the tax breaks available to you
- Long-term care planning: Planning for the possibility of needing long-term care.
- Legacy planning: Planning for how you want your assets to be distributed after you die.
Late-stage financial planning can be a complex process, but it is important to have a clear understanding of your finances and a plan to reach your goals.
Late-stage financial planning can be a complex process, but it is important to have a clear understanding of your finances and a plan to reach your goals.