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Annual Financial Plan Review with Jason Windham

Managing your financial plan is a time-consuming process but it is worth doing.

2 min read
I just completed my family’s annual review of our financial plan and portfolio - something I do every year. To put it bluntly... working on your own plan is hard work!

Here are the key takeaways I thought I’d share to help you:
1. This process is time consuming, but important in order to put you on a path toward achieving your goals. Don’t talk yourself out of doing it – it is too important.
2. Follow a process. In my case, I treat my family’s financials as I would a client’s, using the same tools to evaluate and develop recommendations. To do this, I update:
  • Our Financial statement
  • Our Cash flow statement
  • Review our risk profile – to make sure I am comfortable with how we are invested and the level of risk in our portfolio
  • And review our written goals
3. Once you have this, you can assess where you are relative to your goals – and what adjustments to make. Identifying the changes to make can be the hardest part.

4.  Also, don’t forget to review your portfolio to make sure that it is:
  • Allocated in line with your risk profile.
  • Also be sure to rebalance your portfolio. It’s hard to sell high-performing investments – and equally difficult to purchase in areas that have underperformed – but it is important to keep your portfolio balanced so that you sell high and buy low.
I can tell you that is a time-consuming process, but it is worth doing.
For those who take the time and follow a process to manage your financial plan – well done!

However, if you find you don’t want to do it, don’t have the time to do it – or don’t feel comfortable enough to do it, give us a call.  We are happy to see how we can help.

Get In Touch

Simply call or complete the form to schedule a meeting so we can get to know each other. 
 
Phone number
(225) 763-7010
Fax number
(225) 763-7040
Email
info@shobe.com
Address
8280 YMCA Plaza Drive
Building 4
Baton Rouge, LA 70810
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