What are your goals?College funds? New or second home? Maintaining or increasing your standard of living in the future? How much do you want to travel each year? Do you want a new boat? How often can you afford a new car? Do you have enough life insurance? Will the surviving spouse have enough income?
The Retirement Lifestyle Book and online Goal Wizard helps you identify and manage your goals.
All
the flowers of all the tomorrows are in the seeds of today.
~Indian Proverb
Your financial plan is all about funding your goals for the rest of your life.
What are your financial goals? Exactly what do you want from your money?
Financial planning is an ongoing process, a range of possibilities that need to be updated frequently. A plan helps you make more appropriate decisions with better information.
Wall Street firms' customer communications--marketing efforts and from the mouths of sales reps--are bizarrely focused around your quarterly performance. When returns go down in a quarter or for a year, you see that you have lost money; but when your plan shows you how a short-term loss impacts a 20- to 30-year plan, the "fear effect" is usually dampened which helps you to avoid making the "big mistakes." Bowers Capital approaches progress towards your goals in the context of a long-term plan.
I do not sell quarterly returns. It's not just that I can't time the market; it's that I don't need to.
Developing your risk profile is the first step. Your profile helps to define a range of variation in returns that you can comfortably accept. Providing your financial information and defining your financial goals comes next.
Your Retirement Lifestyle Book guides you in organizing your financial information that we in turn enter into your plan.
Your financial plan then generates a suggested target asset allocation plan for your assets. The plan runs the asset management, allowing you to ignore short term market gyrations and to focus on what really matters: you financial goals.
Click to enlarge the screenshots from a sample comprehensive financial plan; or you can view the entire plan report.
Table of Contents: Personal Information & Summary of Financial Goals:
Asset Allocation - Results & Comparison Asset Allocation - Target Portfolio
Life Insurance Needs Analysis What If Comparison - Longevity Graph
Asset Allocation - Changes Needed Stress Testing - Rolling Periods
Stress Testing - Bad Timing Monte Carlo Analysis - Results
Read about your asset management in the next section.