Let’s face it: life doesn’t follow the same script for everyone. Some people want a house full of kids; others dream of early retirement and world travel. Some are supporting aging parents, while others are figuring out how to pay off student loans or start a business. And that’s exactly why your financial plan should be built specifically around you.
Your Life, Your Plan
Financial planning isn’t just about spreadsheets and retirement accounts. It’s about creating a strategy that supports the life you want at the stage you’re at. That could include plans for:
- Starting a family
- Buying your first (or forever) home
- Saving for your kids’ college
- Taking care of loved ones
- Planning for the retirement lifestyle you’ve imagined
- Leaving behind something meaningful for future generations
These are the things that matter, and they deserve more than a cookie-cutter plan. Your financial roadmap should reflect your real life journey and the numbers needed to get there.
Plans Change – And That’s Okay
Life moves fast. New jobs, new babies, unexpected expenses; your world can shift in an instant. That’s why a financial plan should be flexible. Think of it as a “living document,” something you check in on at least once a year or anytime life throws you a curveball.
The more you treat your plan as something that grows with you, the better it’ll work for you in the long run. Working with a financial advisor can help keep your plan on track as things evolve.
Some Basics To Keep Things on Track
Even though every plan is different, there are a few building blocks that help lay a solid foundation:
- Setting a realistic budget and tracking your cash flow
- Building an emergency fund for those “just in case” moments
- Contributing to retirement accounts, even if it’s a small start
- Investing in a way that fits your comfort level
- Reviewing your benefits and pre-tax deductions
- Thinking through insurance, your estate plan, and how you want to protect your future
Budgeting apps like EveryDollar can be great for keeping your day-to-day spending aligned with your bigger goals.
Starting is the most important step. Having a plan that’s built around your life can make all the difference. At Anchor Wealth, we’re here to help you build a plan that fits your life—where you are now, and where you want to go.
By Kirk Pearson, Wealth Advisor