Tips for Financial Planning Month

Over time, your life circumstances and financial needs inevitably change. Since October is Financial Planning month, it’s a terrific opportunity to re-evaluate your situation, revisit your wealth plan and renew your commitment to your financial future.

Start by making a list. Have you added financial goals since the last time you worked on your plan? If so, jot them down. Estimate how much money you think the things you want will cost and when you expect you’ll need the funds. For example:

Financial Goal

Time Horizon

Estimated Cost

Take family on exotic vacation Short-term $35,000
Pay for daughter’s wedding Medium-term $50,000
Launch new business Medium-term $75,000
Purchase vacation home Medium-term $500,000
Funds to supplement health care expenses Long-term $50,000

Meet with your Luma Wealth advisor. Your advisor will help you refine your calculations, wealth plan and investment strategy to reflect your hopes and dreams.


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