(NC) Financial planning is a lifelong process. But if done correctly, it will pay you dividends for years.
As quickly as life changes, whether you’re starting a family, changing jobs, moving to a new city or planning for retirement, your financial plan should evolve with each milestone. When it comes to retirement planning, it’s never too early or too late to start, no matter your age, job status or personal financial goal.
A recent study found that Canadians with a financial plan are three times more confident they’ll reach their goals by the time they retire. People are more likely to update and revise their finances with confidence if they first create a plan and regularly consult with a professional financial advisor as they work towards their retirement dreams.
“A holistic financial plan is crafted carefully to meet your needs and goals. It’s not just about saving every dollar or cutting back on your expenses,” explains Damon Murchison, president and CEO of IG Wealth Management.
“Good financial planning keeps your retirement plan as its north star and involves purposeful savings and strategic investing, along with tax and estate planning. When you plan strategically and have a long-term trusted relationship with a financial planner, you are on your way to achieving the retirement lifestyle you want.”
You might wonder about the right time to start a retirement plan, whether it’s the right step for you or what a personalized process looks like. Those are great questions, and a professional financial advisor will help you answer all of them and more. The right advice will increase your financial confidence and help you create a plan that meets all your individual goals.
If you’re ready to build your retirement plan or have questions about how to achieve true financial well-being, speak with your local Wealth Management advisor today.