What is financial planning?

Financial planning looks at the entire financial picture and advises on how to achieve short- and long-term financial goals. From saving for education and investing for retirement to managing taxes and insurance needs, personal financial advisors provide clients with confidence today, clarity moving forward, and a more secure retirement.

What does hourly mean?

Think of hourly as ‘time-based’. The total fee paid by the client is based on the total amount of time that the planner spends addressing the clients concerns and objectives. Hence, hourly is time-based.

Why does financial planning seem to be so complex?

Simply put: complexity sells. There are profits in complexity. Complexity gives the appearance of substance to advice that is largely intangible.

Is financial planning complex?

Financial planning can be simple, it does not always have to be complex. Legacy Planning Advisors seeks to shrink the client’s concerns and objectives into manageable parcels so as to deliver confidence and clarity. Recommendations are made that are within the client’s comfort zone and within the client’s ability to self-implement and self-monitor.

Why is retirement planning so hard to relate to?

A retirement projection should be personal and tell the client’s story: where the client has been, where the client is today, and where the client is headed, as well as, what the client can expect once they get there. The challenge is to coach the client to disclose their own vision throughout the process of building a retirement projection so that it tells their own story.

Is it really necessary to build a retirement projection?

Simply put: life goals have financial implications. A good retirement projection delivers confidence and clarity while making the client more self reliant and secure.

How does having a financial plan add value?

The financial planning process is largely intangible. Quantifying the overall value resulting from the effort extends beyond simply the implementation date. Value is delivered over the long term. This is core to the ongoing battle between instant gratification and delayed gratification. Retirement planning is hard because it is an exercise in delayed gratification. Hard, not complex.

Who are Garrett Planning Network members?

A network of over 200 independent financial advisors who share a common goal to make competent, objective financial advice accessible. Garrett Planning Network members are held to strict membership criteria. Learn more.

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