Financial Planning

Financial planning refers to a process whereby a financial professional partners with individuals, families and/or businesses to help them accomplish their stated financial goals and objectives. Financial planning typically involves addressing several key financial areas such as income planning, debt management and reduction, investment planning and management, tax planning, estate planning, long-term care expenses, and retirement income planning and asset decumulation.

Retirement Calculators and Planning Software

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Annuity Digest Buying Guide: Calculators for Retirement Planning

There are some outstanding financial planning tools and some very poor, misleading tools. 

Your financial future is a bit like your health—it is complex and multi-faceted.  As in healthcare, the tools used for financial diagnosis and the practitioner who interprets the results need to be up to the task.

How Retirement Annuities Might Fit Into the Plan

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Annuity Digest Buying Guide: How Annuities Fit Into a Financial Plan

If you are wondering how annuities fit into this discussion about financial planning, consider the following to understand why it is worthwhile to at least consider how an

Key Financial Planning Concepts

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Annuity Digest Buying Guide: Key Financial Planning Concepts

The following are a few key concepts to think about, look for, or listen to when developing a financial plan:

Information Gathering: This is one of the first steps in the financial planning process.  Your financial advisor should gather quite a bit of information about you and your current financial status.

Financial Plans that Focus on Retirement Spending

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Annuity Digest Buying Guide: Financial Plans for Retirement

The point of this section is not to provide you with a financial plan, but rather to discuss some important concepts that should be helpful when you do create a plan.

There is no perfect standard or resource for financial planning—no one has a silver bullet.  There are certainly best practices and some approaches are better than others, but a financial plan is a tool that is part of the financial decision making process.

Can a 10 year variable annuity with 5 year penalties be cashed out after 5 years without penalty?

You need to take a look at the surrender charges your particular VA contract.

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