Christian Financial Planning Consultants
Christian financial planning consultants offer the general public the expertise and experience of knowing how to craft a customized program of savings, investments, insurance and other tools to maximize each customer's earnings over a long term. In addition to such tools, financial planning consultants often have certain products such as life insurance, stocks or other offerings that can also bring them profit. These consultants do not offer a one size fits all approach. Each client is individually studied and evaluated for the approach best suited for maximum growth. Following the program that top consultants recommend is the sure path to fiscal security later in life. There are several areas in which these professionals will be interested to assist.
The first area will be retirement planning. The Baby Boomers are really beginning to age and the recent downturn in the stock market, the rise on oil prices and the uncertainty that the threat of terrorism brings to the world stage all combine to make many of that demographic wondering about how they will be able to face old age in a strong financial position. The FPC will want to ask a number of questions that will include how many years till retirement, how long after retirement will you need funding (in other words, when does a person expect to die), how much do you think you will need every month at retirement and how much will you be able to save each month between now and retirement? These are all difficult questions to answer, but ones that are important to consider. Financial planning consultants force their clients to think long term and determine just exactly what they want in the future in terms of asset management.
The second area of concern for the FPC is the method by which a customer's taxes can be reduced. Financial planning consultants can offer many strategies for this area of concern. Included will be getting the investment portfolio best suited for tax reduction. This may include a number of different strategies related to an IRA or 410K. Each client's situation is different and a traditional IRA may be right for some while a Roth IRA might be better for another. Someone once said that one never sees a hearse pulling a U-Haul trailer and Jesus made it clear that no one should make earthly treasures the ultimate goal. "But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not breakthrough and steal, for where your treasure is, there will your heart be also." (Matthew 6:19, 20)
A third area where financial planning consultants can really help those wanting to maximize their earnings and plan for long term goals is in the area of college expenses for children. With many private schools now costing more than thirty thousand dollars just for tuition and board, parents of young children must seek sound and valued advice on how to raise the capital needed for such hair-raising expenses years from now. The FPC will ask the client questions about how much has already been saved for college, how much the tuition is now at target schools, how much the inflation rate has been the last five years at those schools and what the marginal tax rate is for the client at the moment of the interview. The projections the FPC makes will send very clear signals to the client as to whether or not loans will have to be sought to subsidize the education or not. It is obvious that the earlier a person seeks out the guidance of such a consultant, the better off the client will be many years later.
A fourth area of interest for financial planning consultants is in the area of estate planning. Making sure there is enough life insurance will be one concern. Many financial planners may be charter life underwriters and have a license to sell insurance, or can refer the client to a reputable agent. A consultant will force the client to look hard at the assets and the liabilities (debts) and help the client gain a fresh perspective on the total value of a person's estate. It is the responsibility of the FPC to craft fiscal strategies that will protect that estate as much as possible from economic uncertainties.
Very often, financial planning consultants do offer seminars that individuals can attend free of cost. At these seminars individuals or couples can work through financial planning worksheets provided by financial experts to answer many of the questions that might be on the minds of those hoping to begin making wise financial decisions about the future. Often times these workshops then become platforms for an FPC to invite prospective clients to further explore their options. Successful financial planning consultants can make a very handsome living by selling various investment strategies, life insurance programs and stocks. The field itself can be a very fulfilling vocation. There are a number of certifications that a consultant can receive, and future clients should look and ask for a planner's certifications.
Going to a financial planner can be a very un-nerving experience. It is open heart surgery for the fiscal health of an individual or family. The experience forces people to ask questions and consider possibilities regarding money that may have never been considered before. Making the hard choices is often what has to be done in order to make long term financial stability a reality. Some are unwilling to make the spending changes. Those who do can find great reward later in life.
Christian Financial Planning HelpMost people seek financial planning help to get out of debt or to increase long-term investments, but advisers can assist consumers in a number of ways. When it comes to finances, individuals and businesses usually have one goal: to make the most of incoming funds. To accomplish this, they must learn to live within a budget that keeps them from spending more than what is earned and reducing or eliminating debt. In short, it's all about planning for the future - from getting out of debt and investing for retirement to getting the maximum tax deductions and saving for a new house or college. Customers who get financial planning help learn how to manage cash flow effectively by making lifestyle choices in a variety of areas.
Investment advice is one of the most popular reasons why individuals get financial planning help. Choosing among stocks, bonds and mutual funds can be very confusing for those new to investing. Most just want the knowledge to make the best decisions. Others prefer to have someone else manage personal accounts. Advisers can help both individuals and businesses develop a financial plan that will carry their finances far into the future, beginning with helping customers determine a comfortable level of risk. Usually, higher risk accounts yield higher returns, but not all risk levels are the same for all individuals. While a medium risk level may be too low for one person, for another, it may be too high. Identifying that level helps advisers place customers in the appropriate investments that is both comfortable and will earn money. "And so he that had received five talents came and brought other five talents, saying, Lord, thou deliveredst unto me five talents: behold, I have gained beside them five talents more. His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord." (Matthew 25: 20-21)
Individuals also often need assistance in preparing for retirement. Financial planning help is available for people of all income levels with all different kinds of retirement needs. Most planners begin with helping customers envision what retirement means and helps them get there. Some people require a larger nest egg than others. Advisers can develop plans specific to the customer's individuals needs and desires for the future. Ideally, consumers should begin saving for retirement with their first job, but this isn't always realistic. Many young career-starters are still paying off college loans and simply cannot afford to save for something so far off into the future. Often, individuals don't begin thinking about retirement until much later - sometimes into their 30s, 40s or even 50s. Planners are equipped to offer financial planning help for customers in all life stages. The older a person begins saving for retirement, the risk level usually drops accordingly. An advisor can guide them choose among IRAs, traditional 401(k) plans, and individual ROTH accounts as well as establishing a consistent savings plan. Plus, they can establish a plan to distribute an estate after one's death.
Financial advisers can also help families prepare for the educational needs of children. College expenses are probably one of the highest investments parents will make into the lives of their children. Financial planning helps them develop a plan. Of course, like other investments, individuals need to start early - even the year a child is born. But it's never too early, or too late, to start. Planners can assist parents in setting up a budget for college savings that will work with the number of years available.
What many people may not know is that both individuals and businesses can also get financial planning help for paying taxes and securing beneficial insurance policies. Advisers can walk customers through the ins and outs of filing, what tax credits are available, and deductibles to take on certain investments. Keeping up with the changing tax laws can be daunting. Finding an adviser who specializes in tax preparation can take the worry and stress out of filing. Plus, filers can be confident in knowing they maximized their returns, which can be used in other areas, such as savings, retirement, or taking a much-needed vacation. Life and health insurance play an important part in long-term financial planning and can come with valuable tax benefits. Although considered an investment, these insurance plans are often overlooked in financial planning. Advisers can help individuals and business owners determine which type of insurance plans is the right fit and keep customers from paying too much.
Christian financial planning help is available to everyone and is for people in a variety of situations. Planning assists consumers in evaluating their assets and liabilities, getting personal and business finances in order, and preparing for the future from college to buying a home to retirement. It's not about finding solutions to short-term spending problems, but creating a long-term plan for continued growth and development. Professionals advise paying off all debt, including credit cards before developing and launching a financial plan. Individuals who fail to follow a savings plan must cut spending later in life. Businesses who fail to do the same lose needed business and sometimes much more. Having a plan in place, whether through an adviser or individually prepared, and implementing that plan is crucial to long-term financial success and survival. It's never too late to start.