A roadmap for your futureSubmitted by Financial Innovators Group on October 18th, 2021
Setting goals and objectives are the first steps to creating a solid financial plan. It’s important to know where you want to go, so that you can chart a course that will get you there. There are many road blocks on the way to retirement, but life is an adventure and there are things you can do to help put you on the right path to reach your destination.
People with a financial plan worry less and save more. A financial plan can help you to:
- Know where your money is going
- Understand where the money will come from for your family's changing needs
- Prepare for different stages of your life
- Maximize your retirement savings
- Protect your hard-earned money against the unexpected
- Manage your taxes
You make financial choices every day, but do you really know where your money is going? Take an inventory of your spending habits and see if there are any changes you could make – even small changes can add up to big savings.
Where are you today?
Take a moment to figure out the difference between what you own (your assets) and what you owe (your liabilities). The difference between the two is your net worth.
What are your goals for the short and the long term?
Use the handy goal-setting worksheet from Sun Life Financial to prioritize a list of goals for both your immediate and distant future. Know that your goals will change and evolve over time, just like your financial plan.
Build and protect
Knowing what you can expect from the government and your employer when you retire will help you determine how much you need to save on your own to support your vision of a secure financial future. Consider what would happen to your savings if you were suddenly unable to work. How would you cover your regular expenses and what would happen to your savings?
Where to start
To reach your financial goals, start by creating a plan and be confident in knowing you’re taking the right steps to a secure financial future. Check out Money for Life – Sun Life Financial's customized approach to financial and retirement planning  and when you’re ready, contact me. I can help you create a plan that suits your needs.
 Sun Life Canadian Unretirement™ Index 2013
 Only advisors who hold CFP (Certified Financial Planner), CH.F.C (Chartered Financial Consultant), F.Pl. (Financial Planner in Quebec), or equivalent designations are certified as financial planners.