Make Your Dreams Reality

These are the kinds of questions below that we help clients answer to begin creating a Financial Plan. JW Financial Advisors can help you arrive at the right answers for you.

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What financial goals should I focus on?

Think about what’s most important to you.

Your life goals, your dreams, and the things you would like to have if there were no limits. Those goals then become the basis of a financial plan.

We consider your time horizon, your risk tolerance, your cash flow needs, your current income and savings, and build a financial plan that will most efficiently help you meet your dreams.

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financial goals

What should I do with my 401(k)?

Are you still working?

If you are, you should be contributing to a retirement plan at work. There are many options for self-employed, as well. The investments in that plan should reflect your risk tolerance and your time until retirement.

If you have a 401(k) but are no longer working, those investments should be transferred into your own IRA. That will give you much more flexibility in your investments, usually at much less cost.

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When can I afford to retire?

How much do you want to spend per month when you are no longer working?

The best way to answer this question is with a written financial plan that will guide your expenditures.

This will reduce the probability that you will run out of money while you are still alive.

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How can I save for college?

How many years will it be until you need the funds for college?

If more than a few, a good option is a College Savings Plan, also known as a 529 Plan.

Investments in this type of account can grow tax deferred, and are not taxed when used for higher education.

More about paying for college

How can I provide for my family when I’m gone?

Do you have young children?

Many breadwinners with young children choose affordable term life insurance, to replace their income during the period when their children are growing.

This is a good stopgap. However, there is no substitute for a solid estate plan, drawn up by an estate-planning attorney.

More about providing for your family’s future