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DYNAMIC FINANCIAL PLANNING The cornerstone to achieving financial goals is a meaningful, comprehensive financial plan. Typically, these plans are static – you look at the data once, perhaps review it annually – but don’t always allow for the big life changes: new home, new baby, new business, empty nest, caring for parents, selling a business, etc. Our planning is dynamic; it is updated constantly and you can see changes to your financial picture immediately, and that information can be shared with your CPA and/or attorney.We know that having good information allows our clients to make good decisions. Our planning helps them do just that. In general usage, a financial plan can be a budget, a plan for spending and saving future income. This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan can also be an investment plan, which allocates savings to various assets or projects expected to produce future income, such as a new business or product line, shares in an existing business, or real estate. In business, a financial plan can refer to the three primary financial statements (balance sheet, income statement, and cash flow statement) created within a business plan. Financial forecast or financial plan can also refer to an annual projection of income and expenses for a company, division or department.[1] A financial plan can also be an estimation of cash needs and a decision on how to raise the cash, such as through borrowing or issuing additional shares in a company.[2] While a financial plan refers to estimating future income, expenses and assets, a financing plan or finance plan usually refers to the means by which cash will be acquired to cover future expenses, for instance through earning, borrowing or using saved cash.
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 Maureen Bigger is a CERTIFIED FINANCIAL PLANNER™ © 2012 Bigger & Company, LLC. All rights reserved. Securities offered through MAP Securities, Inc., Member FINRA. Headquartered at 1682 E. Gude Drive, Suite 201, Rockville, MD 20850-5345 Bigger & Company, LLC is not a subsidiary of MAP Securities, Inc. Site Map Site design & development by maggpie communications, inc. |