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MonsterTV – Newstalk1010 with Vince Gaetano: Financial Plan Checkup

January 11, 2021

What is an annual financial plan checkup, and why do you need one?

 

A financial plan allows you to determine your financial situation at a given moment. It should include looking at all your assets and liabilities, calculating your net worth, establishing what your goals are, and what methods you are going to employ to achieve them.

 

This means taking into consideration all your assets – how much you get paid, what’s in your savings accounts, investments, what’s in your retirement fund – as well as your liabilities including loans, credit cards, and other personal debt. Don’t forget to include expenses like your mortgage or rent, plus monthly utility bills and other monthly expenses. The snapshot should also factor in what your goals are and what you’ll need to accomplish in order to get there. This could include retirement planning, investment strategies and tax planning.

 

 

We’re all aware that talking about money and financial things isn’t always a topic of conversation among friends. However, we really think it’s something more of us should be talking about. Setting financial goals provides a road map and plan to build wealth and places you on the path for financial independence.

 

 

It is critical to establish achievable time horizons so that you can plan your financial milestones properly. The key to success really is a proper plan! Call the Monsters if you need help:

🌐 MonsterMortgage.ca

📞 416.480.0234

📩 ask@monstermortgage.ca

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