As we begin to move into the end of the year, it seems like much of the focus in 2022 has been on market volatility and the economy. While these are important, and we watch them closely related to all we do, I encourage all of us to take a step back and think about what long term financial planning really means.
Creating a true comprehensive financial plan encompasses many things, such as goals and objectives, taxes, risk management, lifestyle, economics, employer benefits, health, legacy, and investing. Gaining an understanding of how everything fits in the overall plan is the best opportunity for clarity. When we get to the investing part, this is the area where we believe the plan should drive how money is invested and not the other way around.
Please keep in mind that your financial plan will last your entire life, and possibly extend into future generations. The money that supports this will also be there just as long and must be viewed in that light.
We hope this provides some perspective. It’s important.
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