Step 5: Establish Goals
Financial goals provide a foundation for building wealth. They offer a vision that you can refer to for perspective as you juggle day to day decisions around how to use your income, consider whether savings strategies serve your existing and anticipated fi nancial needs, and prioritize expenses on an ongoing basis.
Think of your fi nancial goals as your
list of what you want to do with your money over time. Categorize your goals into “Needs”, “Wants”, and “Wishes” for en- hanced clarity around what expenses in life you must pay in order to survive as opposed to which expenses you choose to pay as part of experiencing a quality of life you desire.
Step 6: Invest for Growth Once you mentally understand what
being wealthy is all about and have in place savings and spending behaviors that align with your goals, consider working with a Certifi ed Financial PlannerTM (CFP®) to discuss your risk tolerance and implement investment strategies to grow your money over time. With more people living into their 80s and 90s, fewer employers offering comprehensive pension plans throughout
retirement, and expenses like health- care rising rapidly, it is more important than ever to make informed investment decisions designed to accumulate more wealth for your use over your lifetime.
Caroline Wetzel is a Certifi ed Financial PlannerTM (CFP®) and Vice President, Private Wealth Advisor with Procyon Private Wealth Partners, LLC. Procyon Private Wealth Part-
ners, LLC and Procyon Institutional Part- ners, LLC (collectively "Procyon Partners") are registered investment advisors with the U.S. Securities and Exchange Com- mission (“SEC”). This article is provided for informational purposes only and for the intended recipient[s] only. This article is derived from numerous sources, which are believed to be reliable, but not au- dited by Procyon for accuracy. This article may also include opinions and forward- looking statements which may not come to pass. Information is at a point in time and subject to change. Procyon Partners does not provide tax or legal advice. See ad on page 15.
Lisa Wilson, CHC, CRFE FREE WELLNESS CONSULT
www.NaturalNutmeg.com
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