Using
Your Action Plan
Your action plan is developed during the process of creating
your comprehensive financial plan. It identifies the decisions
you will need to make in the next phase of the process,
"Funding Your Objectives,"
in order to bring your current financial situation in
line with what you expect to achieve. Some of these decisions
you will make yourself, others we can assist you with,
but ultimately, it is your follow through that
will determine if your comprehensive plan will come to
fruition.
The action plan may include items such as requiring a
redistribution of assets for estate planning purposes,
opening tax-advantaged accounts, updating estate documents,
and reviewing cash flows. Other items may entail the evaluation
and selection of insurance companies to help manage your
risk in life, disability and long-term care coverage,
as well as liabilities for auto, home and catastrophic
events.
Depending on your situation, the action plan may also
include contact information for tax and estate planning
professionals, and, if you request, provide for the coordination
of these professionals as part of your plan implementation.
Once you have decided which tasks on the action plan you
will undertake and which ones you will engage PFPI for,
the process moves to "Funding
Your Objectives." In this phase the actions identified
need to be completed and monitored to ensure the best
chance of achieving your goals.
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