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October - Financial Planning Month

October 25, 2023

We all know that October is the month of beautiful Autumn colors and trick-or-treat. Did you know that it is also U.S. Financial Planning Month? This annual observance emphasizes the importance of creating a financial strategy to help you pursue your goals.

At SFS we consider every month to be Financial Planning Month, as you probably already know from our focus on your goals. We believe all of our clients need at least a basic plan that we can build on together.

Consider these 5 important areas of financial planning. Click on any topic for a helpful resource to learn more about that subject. And as always, feel free to contact us if you would like to talk about your financial plan.

  1. Take some time and jot down your short- and long-term financial goals*. You know the old saying, "A goal not written is only a wish." If you have a partner, be sure to include them so that you are literally on the same page.
  2. Establish or bolster your emergency fund as needed. Having an emergency fund is one of the foundations of financial success. While having a credit card on hand for emergencies can be convenient, a more structured emergency fund may be a better choice in the long run.
  3. Optimize your cash flow. What are your biggest challenges when it comes to managing your cash flow effectively?
  4. Financial Planning Month isn’t just about saving and investment; it is also about risk management and the role insurance can play in your family’s future. Life is full of uncertainties, and having a thoughtful insurance strategy may provide help during challenging times.
  5. Retirement preparation is an important aspect of financial planning. Retirement is a significant milestone requiring careful consideration and strategy. Looking at your retirement goals, do you feel you're on the right path? If you’re unsure, now may be the right time to think about a financial roadmap.

Are you ready to have a conversation about any of these areas of financial planning or your overall financial plan? If so, please reach out. I’d love to connect with you. You can reply to this email or use the link to schedule a convenient time for me to give you a call.

*IFG Advisory, LLC and Stark Financial Strategies offer this article for informational purposes only. We have not vetted any other articles or links displayed on this web page.