What Exactly Is Financial Planning?

There are many ideas and opinions as to what exactly is financial planning. Here, David Shepherd, outlines what Financial Planning is. David explains the process of harmonizing the seven key areas that make up your financial program with the objective that you and your family can reach and maintain your most important goals.
“As an example, I’m a musician, I love music, I used to play in bands all the time and I know that you can have a really awesome vocal part, a phenomenal guitar part, a really awesome bass line and a great drum part too. But if they’re all not in sync, it doesn’t matter how good the individual parts are, it’s not going to sound good.”
The same thing is true of financial planning. Only with financial planning, instead of instruments, financial planning is coordinating the seven key areas that make up your financial program. Financial planning is taking:
1. Financial statement preparation and analysis (and that includes budgeting)
2. Insurance planning and risk management
3. Employee benefits planning
4. Investment planning
5. Income tax planning
6. Retirement planning
7. Estate planning
Aligning these seven key areas is designed to help bring all of YOUR financial goals and objectives into harmony with one another so that you and your family have the opportunity to reach and maintain your most important goals with growth and confidence.
If you have any questions about that process, please let us know, we’re happy to help. And as always, our goal is to help you and your family, “Shepherd Your Wealth.”

About David W. Shepherd, Jr., CFP®

David is the Chief Investment Officer for Shepherd Wealth & Retirement and a CERTIFIED FINANCIAL PLANNER™ practitioner. Have a financial question? Click Here to contact David W. Shepherd, Jr.

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Investment advice offered through Shepherd Wealth Group, a Registered Investment Adviser doing business as Shepherd Wealth & Retirement.

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