Next to oxygen and water, money might be the most important
element in modern life.
The Four Cornerstones of an Effective Financial Plan
Don't let your legacy become like a house of cards waiting to collapse.
Contact The Niew Group to plan your secure financial future.Financial planning is the process of arranging your finances to meet your personal goals and objectives for the future. Simply put, the intelligent planning and implementation of your financial investment strategy will get you from point A to point B. But the financial planning process can seem complex, sometimes even overwhelming, without assistance from knowledgeable, experienced professionals you can trust. That’s where The Niew Group comes in.
The Niew Group believes that the “cornerstones” of investing must be identified and laid down in a logical order to preserve your financial assets and to ensure that you are able to maintain a desired lifestyle. These cornerstones and the precise order in which they should be “built” include:
- Identifying and Implementing an Estate Plan
Estate planning is a critical part of the investment planning process. The purpose of estate planning is to ensure that your assets, no matter how large or small, go where you want them to, how you want them to, and when you want them to.
Click here to learn more about Estate Planning and The Niew Group’s ability to build this important FIRST cornerstone of your overall financial plan.
- Creating an Emergency Fund
Emergency funds are the liquid assets needed to meet unexpected expenses that are not planned for in the family budget. Circumstances such as short-term illness causing a loss of income, unexpected medical expenses, or property losses that purposely are not covered by insurance (deductibles and co-insurance) can lead to events for which access to emergency funds becomes critical. The need for emergency funds has received greater attention recently, brought about by the onset of mergers and acquisitions, corporate buyouts, layoffs and plant closings that are symptoms of the current economic crisis.
Creating and maintaining an adequate emergency fund can help to prevent events such as temporary unemployment from becoming a personal financial crisis. The ideal amount for your emergency fund will depend on many factors including family income, number of income earners, stability of employment, and current assets and debts.
The Niew Group will recommend investments for your emergency fund with the objective of nearly complete security of principal, marketability and liquidity in mind. The investment outlets for emergency funds typically include bank savings accounts, credit union accounts, money market accounts, and life insurance cash value balances. And because access to emergency funds is important, we’ll help you decide where to invest these funds to ensure they are readily accessible in case of a dire emergency.
Contact The Niew Group today to learn more about Emergency Funds and our ability to incorporate this critical cornerstone into your overall financial plan.
- Selecting Products to Generate Guaranteed Income
As you move through your investing life, your needs—and the level of risk you are willing to take on—will change. As you approach retirement, you may benefit from the peace of mind that comes with having retirement income that is guaranteed. Let The Niew Group advise you which products are best suited to provide the type of guaranteed income that will provide peace of mind and move you closer to a secure financial future.
- Adding Equity—a tolerable level of risk—to your Investment Portfolio
No one ever wants to lose principal, but a willingness to take on a certain reasonable level of risk is often required to realize dreams of financial security. The Niew Group will identify your personal risk profile and recommend investment products that match your risk tolerance while maximizing income potential.
Kathleen Niew and her associates at The Niew Group firmly believe that implementing a financial plan—based on the successful identification and implementation of these critical “cornerstones” in the proper order—is the key to achieving a successful financial legacy. Conversely, if these four key elements of your financial plan are not carefully identified and carried out effectively, your legacy can become like a house of cards waiting to collapse.
Contact The Niew Group today to learn more about Investment Solutions and how we can ensure you the tranquility and security you are seeking for your financial future.
The Niew Group can help you Earn it, Keep it, and Grow it.