You can’t control the market. However, financial planning can change the way you look at and experience market volatility when it inevitably occurs.
Here at Wealth Dimensions you hear us talk about financial planning a lot. But, what does that really mean? And what are some ways that you can help ensure your financial plan is really designed to be durable in times of volatility?
Oftentimes you hear people talk about economic forecasts and stock market returns. We know that those things are very difficult to get right and we want to focus on what you can control so that you can have clarity and peace of mind in your financial situation.
3 C’s of a Durable Financial Plan
There are three key points that we focus on with our financial plans and with our clients so that they can understand where they’re at and where they’re going.
Is it clear? Have you had a conversation that outlines what your goals and objectives are, and has it been communicated to you in a way that you understand?
Is it collaborative? Do you update it regularly? Do you have ongoing conversations and reviews? Do you revise it when circumstances change? Is your entire situation encapsulated in this plan?
Is it comprehensive? Is it very detailed? Has it gone through all the specific areas of your life and tied them all together so you know when the market goes awry you have some comfort, clarity, and peace of mind at the end of the day?
If walking through a process like this feels like it would help you reduce your stress and anxiety in anxious times like these please reach out. Give us a call, leave a comment, shoot us a note. We’d be happy to chat.
For informational purposes only. Not intended as investment advice or a recommendation of any particular security or strategy. Information prepared from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. For more information about Wealth Dimensions, including our Form ADV Part 2A Brochure, please visit https://adviserinfo.sec.gov or contact us at 513-554-6000. Please be advised that this material is not intended as legal or tax advice. Accordingly, any tax information provided in this material is not intended and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.