Have you ever had a pain in one area of your body, only to find out another area is the culprit? As it is with our health, the art of comprehensive financial planning is seeing how all the pieces of your personal financial picture are connected. So, when your doctor asks you what you ate for breakfast or how much you exercise, that’s similar to us asking to see your tax return. It is one of the puzzle pieces needed to create an accurate picture of your financial health and the basis for our potential recommendations to you.
Often comprehensive financial planning is talked about in terms of the pieces evaluated such as a personal net worth statement, investment portfolio, college savings, retirement planning, tax and estate planning or the “b” word, budget. Yes, all those items are the product of comprehensive financial planning, but what makes it unique to each client is individual preferences, life experiences, goals and dreams. It’s the unique personality each client brings with them that helps shape a comprehensive plan that moves them efficiently toward their goals.
In the coming weeks, we’ll highlight the different services we offer which may become part of your comprehensive plan. Each component has value and depth that adds to the big picture. We’re your partner in putting the pieces together for your individual situation, as well as providing information to help you stay informed.
A comprehensive study1 found 90% of U.S. households do some sort of financial planning, but only 19% go beyond the basics to take a comprehensive look at their financial goals.
Johnson Bixby clients – congratulations! You are ahead of the curve, and we applaud your commitment to your financial future.
1. Financial Profiles of American Households: The 2013 Household Financial Planning Survey and Index, released by the CFP Board and the Consumer Federation of America.