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What is a Financial Plan?

Simply put a financial plan is an evaluation of your current and future financial state.  The plan uses currently known variables such as account balances, cash inflows, and savings rates to predict future cash flows, asset values, and withdrawal plans.

Financial planning plays an important role in helping you get the most out of your money. Careful planning can help you set priorities and work steadily towards long-term goals. It may also provide protection against the unanticipated, by helping you prepare for things such as unexpected illness or loss of income.

Together, you and your Advisor will create a proper financial plan designed to help you:

  • Examine your present financial situation
  • Protect what’s important
  • Accumulate wealth
  • Achieve your goals
  • Plan for retirement
  • Leave a legacy

By taking into account your income, expenses, investments and debt, your financial plan will provide guidance on how to manage your money to help meet your short-term needs and long-term goals—all while protecting what you have and your loved ones.

Financial planning is a process of setting objectives, assessing assets and resources, estimating future financial needs, and making plans to achieve goals. Many strategies may be involved in this process, including investing, asset allocation, and risk management. Tax, retirement, and estate planning are typically included as well.

Our personalized financial plan includes a unique feature that estimates the probability of successfully meeting your goals. You tell us your goals for the future, current savings, investments, and contributions and we take that information and come up with a probability of successfully meeting your goals. That way you know if you are on track.

Once we come up with your probability of success, we create recommendations of changes you could make to your portfolio, savings rate, or other current input that could increase the likelihood of you reaching your goals. 


Our Financial Planning Process

At VLP Financial Advisors our advisors and their teams take a holistic approach to financial planning. We believe that financial planning is a process not a product. The financial planning process involves discovering your goals, identifying your resources, and developing a customized plan to meet those goals.

Our process starts with an introductory meeting. In this complimentary meeting one of our experienced advisors will introduce themselves, our firm,  and what we offer. The advisor will also ask you what kind of financial advice you are looking for- are you looking for answers to specific questions? Or, do you just feel you would benefit from some professional advice? Rest assured that all personal information disclosed to your advisor is confidential. To help chart a course for your financial future, VLP Financial Advisors follow a time-tested 5 step process that is realistic in its approach and squarely focused on helping you achieve your goals.


Financial Planning Steps