Planning is Key to your Financial Future

In many ways, devising a strategy for a secure financial future is similar to planning for a great vacation. Having a prudent, well-thought-out approach will be a key contributor to the success of the journey. However, the choices for a long-term financial strategy are far more complex and consequential than those faced when planning a dream vacation. To construct a successful strategy, most likely you’ll need the assistance of a qualified financial professional—someone who has the knowledge and experience to help guide you in making your key decisions.

Developing a strategy involves certain common phases.  First, there is the initiation or discovery stage. Here the focus is on creating a list of primary financial concerns and priorities. The financial professional’s role at this stage will be to ask appropriate questions and to keep the process focused on long-term goals.

Second is the profile phase. At this time, you’ll examine current assets, debts and income to help formulate a complete picture of your current financial situation. During this process, you’ll also need to determine future investment objectives and try to anticipate future contingencies so they can be incorporated into your overall financial blueprint.

Third, everything you learned in steps one and two are combined to help you create a comprehensive strategy. It is at this point that the guidance of a financial professional is most important. This person’s knowledge and aptitude can help you understand and select the financial products that are most appropriate for your specific set of goals and objectives.

The fourth phase in the process usually includes reviewing and confirming your choices. You’ll analyze the entire program one last time to fine tune each of the key elements. This will help ensure that they all fit into your overall strategy. At this stage, you’ll also begin to implement the specific components of your strategy, for example, by purchasing a particular investment or insurance product.

Finally, and often most importantly, you and your financial professional should continuously monitor and review your progress to help ensure that you’re staying on financial track. Over the long-term and as your circumstances change, your strategy will need adjustment to reflect shifts in your objectives and situation.

Like the gratifying feeling you get at the end of a well-planned vacation, a comprehensive financial strategy can help you achieve a more secure financial future. AXA Advisors, LLC does not provide legal or tax advice. Please consult your tax or legal advisor regarding your individual situation.

Frances Savage offers securities through AXA Advisors, LLC (member NASD, SIPC)  at 1633 Broadway, 3rd Floor, New York, NY  10019 and offers annuity and insurance products through an insurance brokerage affiliate, AXA Network, LLC, and its subsidiaries. GE-28427 (Revised 03/04)(Exp.03/06)

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