Both Personal and business finances require learning from yesterday, making wise choices for today, and preparing for tomorrow. Managing finances effectively means having strategies in place for life’s ever-changing seasons. Planning for the unexpected and things like retirement is critical.
Sadly, in this country, only 48% of people over 55 have saved any money for their golden years. To retire comfortably at today’s inflated rates, a person needs around $1.8 million in savings. With one in five having insufficient funds and almost half of the population having no savings, it causes alarm for the future. Financial planning services in Pittsburgh, PA are no longer optional, as they’re necessary for survival.
A financial plan includes several parts: a budget, investments, retirement allotments, taxes, and estate considerations. A planner will look at the whole picture, including past, present, and future endeavors. Risk management is a significant part of planning, as strategies must be in place to cover any such events.
Another compelling part of any financial plan is helping people accumulate wealth and achieve significant financial goals. The economic forecast includes educational funding, purchasing a home or investment properties, and sufficient savings.
Financial planners help their clients structure their finances to minimize tax liability. Proper guidance can help individuals retain more earnings instead of paying excessive tax liabilities by maximizing available funds for investments and other expenses.
Securing one’s financial future is often an overwhelming process that requires expert advice. Most people don’t make considerations for the distant future, as they’re often overwhelmed with the needs of today. For financial planning services in Pittsburgh, PA, contact Grant Street Asset Management.
