Financial Services

Whether it is retirement planning, saving for college or paying for your home, financial planning can help ensure you have money available to achieve your goals. There are plenty of tools and resources available as well as certified professionals who can help.

How Financial Planning Works

Financial planning typically involves calculating your current net worth and analyzing your cash flow, then using that information to create a strategy to help ensure you have assets available for your future needs. This process can be completed by individuals, with or without the assistance of computer programs, or with the help of certified financial planners.

How Financial Planning Helpful

Financial planning may be useful for various reasons. It can help you articulate your specific goals while offering guidance on how to attain them. It may also be beneficial to analyze your income and spending habits to help you achieve these objectives. Additionally, financial planning is an ongoing process. Your income, debts and goals change over time, and financial planning provides a vehicle for you to continually update and modify your plans.

How Financial Planning Is Important

Financial planning provides an opportunity to examine your current financial position with an eye toward the future. It gives you the chance to consider your needs and goals with regard to the following:

·        Building and maintaining a budget

·        Retirement planning

·        Insurance

·        Charitable giving

·        Educational savings

·        Long-term care planning

·        Paying taxes and debts

·        Estate planning

By making a plan, you can have a roadmap for meeting your objectives.

Financial Planning Resources

While individuals may complete financial planning on their own, resources are available to aid in the process. In addition to automated computer programs, you can seek the help of a certified financial planner. Be sure to verify their credentials and find out how they are compensated as these vary.

Contact Us

Lohman Companies in Geneseo, Illinois, has been in business for over 50 years. We are family-owned and can help you with your insurance needs. Contact us today for more information.