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OCT
11
16 Vital Family Financial Planning Tips

Don't be afraid to celebrate financial planning, now I don't mean to actually throw a party, but I do want stress the importance of proper financial planning before it's too late!  At the very least, you need to understand the basics.

Every year around the first week of October, the Financial Planning Association (FPA) celebrates its annual Financial Planning Week.  The FPA (of which I am a member) is one of the financial services industry's trade organization for professionals, and is the largest of its kind in the industry. Not only do they help educate those of us in the financial planning community, they also help educate the general investing public as well. The FPA offers interactive tools, educational seminars, literature, audiocasts, checklists, an e-mail hotline, and much more.

During  Financial Planning Week, financial planners everywhere join in events and activities aimed at providing free financial education to the public. I think it's wonderful that planners are volunteering their time and expertise to work one - on - one with local residents to address important financial issues such as budgeting, getting out of debt, income taxes, home foreclosures, paying for college, estate planning, insurance, and much more. Below are 16 helpful financial planning tips that were suggested by the FPA during Financial Planning Week.

16 helpful family financial tips (as suggested by the FPA)

1.    Start a savings account for a child, vacation or a gift for yourself

2.    Help teach your children how to save and spend wisely

3.    Write down your financial goals and revisit them periodically

4.    Start using personal finance software to help you better understand your money

5.    Get a head start on your child's college education—investigate college planning options (Here is a great worksheet to help you http://www.fpanet.org/LifeGoals/SavingforCollege/ )

6.     Pay off a credit card

7.     Establish an emergency fund

8.    Purchase a session with a financial planner for a relative, friend or colleague as a gift

9.     Give a relative, friend or colleague a subscription to a personal finance magazine

10.  Invite a financial planner to speak at your workplace

11.   Review your insurance coverage with your planner

12.  Talk to a relative about their plans for long-term care

13.  Make a monetary contribution to your favorite charity

14.  Get your estate in order: Create or revise your will and other estate-planning documents. Talk to your   financial planner for help.

15.  Evaluate your employee benefits and begin planning for open enrollment

16.  Call your financial planner and share your appreciation for his or her service

I hope these tips helped remind you of a few financial planning activities that are vital to you and your family.  Everything listed above underscores the need for seeking the help of an experienced financial advisor or planner to help you understand the financial planning or wealth management process to protect and preserve your wealth.

photo credit: RambergMediaImages via photopin cc
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Securities offered through American Portfolios Financial Services, Inc. Member: FINRA, SIPC. Investment Advisory services are offered through American Portfolios Advisors, Inc., an SEC Registered Investment Advisor. Froehlich Financial Group, LTD is not an affiliate of APA or APFS.

Disclosure: If legal, tax, or other expert assistance is required, the services of a competent professional should be sought. This article is for informational purposes only.

Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.

 


[1] www.fpanet.org  Financial Planning Association



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Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.

Securities offered through American Portfolios Financial Services, Inc. Member: FINRASIPC. Investment Advisory products/services are offered through American Portfolios Advisors, Inc., a SEC Registered Investment Advisor. Froehlich Financial Group, Ltd. and American Executive Benefits, Inc. are not affiliates of APA or APFS. Executive wealth management products/services are offered through Froehlich Financial Group, LTD. a registered investment advisor



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