March 29th, 2020

Financial Planning 101

What exactly is a financial plan?  Is it a budget?  Is it planning for retirement?  Is it saving for college education?  Is it getting out of debt?  It can include any and all of these items but the important thing to understand is that financial planning is an ongoing process.   Just as your situation and your goals change on a fairly frequently basis, so should your plan.  If you are currently falling behind in your bills and having a hard time meeting basic expenses, then your short-term goal may simply be to get out of debt.  If you are keeping up with basic expenses but wondering how you are going to pay for your child’s education in a few years, then you may need to review your budget and establish some savings objectives.  Regardless of whether your goal is to buy a house or to retire as a millionaire, developing a roadmap to help get you there and monitoring and updating it along the way will increase your odds of meeting your financial goals.

Need help putting together your financial roadmap?  Contact a Cornerstone Branch Manager.  He or she can connect you to the right resources to get you where you want to be, whether that’s credit counseling, a no-obligation appointment with a financial planner, or a meeting with an investment representative.

Category: Financial Planning

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