With a world of information at our fingertips, we can find reviews, product specifications, and more details than we’ll ever need about anything we want to buy. In other words, before making a major purchase, we can arm ourselves with information to make the best choice possible.
While creating a financial plan is in a different category than buying a car or putting an offer on a home, we believe it’s just as significant of an investment and you should know what you’re getting before you pay a penny.
Because we develop custom financial plans for each client, it’s no easy task to provide one without working with you extensively. However, we wanted to create something that could help you better understand what your potential financial plan could look like so you can see the benefits a plan could bring to your financial life. If you choose to work with us, here is what you can expect.
What Does A Financial Plan Include?
First, you may be wondering about what goes into a comprehensive plan. Financial plans often address a myriad of concerns and goals, from college planning to retirement income strategizing. Depending on your needs, your plan may narrow in on one element or address multiple goals you’d like to achieve over time. Whatever you choose to focus on, your financial plan is designed to serve as your road map, helping you navigate the years before, during, and after your transition to retirement.
We believe a good financial plan should give you a detailed, complete view of your current financial situation, a thorough modeling of where you want to be, and the actions you need to take to reach those goals. It should address all the pieces of your financial puzzle, from stresses and fears to your values and dreams, and include risk factors, cash flow, retirement, estate planning, taxes, education, and income strategies to help bring you clarity and guidance. It is through our planning process that we can help you prepare for life’s expected and unexpected circumstances.
The result is a simple yet powerful road map to guide you toward financial freedom.
See A Sample Financial Plan
The following sample plan looks at a fictional client’s lifestyle income plan and how we developed it, including identifying their goals, creating a balance sheet, reviewing their cash flow, and more.
Keep in mind that this is only a hypothetical plan presented to illustrate what a client’s plan may resemble should they work with me. The characters and circumstances are completely fictional and are for illustrative purposes only. Be sure to seek the advice of a qualified professional for your particular situation and not rely upon any of the information herein to make personal financial decisions.
We provide an overview of your current situation. With just one glance, you can see a big picture of your financial life, including assets broken down into specific categories and short-term and long-term liabilities.
Next you see an income and savings summary, as well as a liabilities and expense summary, which puts all of your financial information in one place to give you a big picture of your current situation.
We’ll also show you customized cash flow calculations based on your current financial state and estimated retirement age, plus projections for various scenarios.
When it comes to investments, we will analyze your current investment holdings to determine if your portfolio is set up according to your risk tolerance and time horizon and properly diversified.
Your plan will analyze every piece of your financial puzzle, showing detailed projections for income, expenses, assets, and mapping your progress toward your goals. This will show you where you will stand in retirement and give you something to aim for as you draw closer to your retirement years. The end result? An actionable implementation list and a road map for your future.
Get Started On Your Plan!
If you want to see even more features of our financial plans, download our full sample plan here. Once you’ve taken a look, reach out to us at West End Advisory Group today to schedule an introductory meeting, and together let’s find out if we’re the right people for you to depend on during your journey to a comfortable retirement. Contact us at (314) 492-5999 or jroddy@ceteranetworks.com to get started.
About Joe
Joe Roddy has been in the financial services industry since his early 20s. After working on financial transactions for large corporations, Joe decided he wanted to apply his skill and knowledge to meet the needs of the individual and small business owner, while at the same time creating his own business. He wanted long-term client relationships nurtured through trust that could not be developed in an environment emphasizing immediate transactions.
His founding of West End Advisory Group gave him the flexibility to build just that kind of business. Through hard work, outstanding service and a reputation of fairness and integrity, he has built a solid client base and has expanded his business through referrals.
The West End Advisory Group is a local firm but has the resources of a large national firm through its affiliation with Cetera Advisors Network—one of the country’s largest independent broker dealers. His firm’s approach is to plan before investing and uses a five-step process to customize a solution that works best for them.
In addition to his business, Joe is active in his community serving as Alderman of 17 th ward which includes the Central West End, Forest Park South East, Botanical Heights, and Kings Oak neighborhoods.
He has received numerous awards for his civic work including: Cortex Innovative Community Founder’s award for his role in its creation, Citizens for Modern Transit’s Chairman Award, Herbert Hoover Boys and Girls Club’s National Award of Merit, Central West End Association’s Renaissance Award, Shalom House’s Legacy Award for his support of the unhoused.