Comprehensive Financial Services
In today's economy, comprehensive financial services may be all that a family has to depend upon. While everyone agrees that the power of God is more than enough for any person's needs, many people are still wary about trusting their personal finances to Him. And it is not without reason - God will only provide for His children when they are obedient to His commandments.
Creating wealth is not wrong, but it becomes so when possessions start to replace God as the key focus of one's life. As long as money and material goods remain subservient to God, they can provide for families beyond their wildest dreams. By following the guidelines laid down by the Lord in the Bible, financial security is an attainable goal.
There are no strict rules surrounding comprehensive financial planning, but it does involve analyzing the family's income and expense structure to determine where money is being wasted on unnecessary expenses or not being spent at all. Expenses that can be trimmed down or cut off completely include superfluous luxury items, unneeded insurance policies, hidden fees on your credit or debit card, and so on.
Investments can earn a lot of money for a family if managed properly. Many comprehensive financial planners recommend buying assets that have appreciated in value over time, because they are likely to increase in price in the future. An example would be investing large amounts of cash into income properties instead of putting it in the bank.
There are two aspects to comprehensive financial planning - investing for one's self, and investing for others. Investing for oneself is more commonly known as personal investments planning, while the latter refers to investment management services provided to high-net-worth individuals and their businesses.
About comprehensive financial planning services
The comprehensive financial planning services industry engages in providing financial consulting, advice, or assistance that includes complete financial planning. This may include retirement planning, estate planning, tax planning and preparation, insurance buying assistance, education savings account (ESA) plan administration services, preparation of loan applications for home mortgages and consumer loans, financial plan implementation services, money management services, investment advisory services, and other comprehensive financial planning activities.
Establishments primarily engaged in managing comprehensive financial plans for clients are classified under comprehensive financial planning services.
Overview of comprehensive financial planning
Comprehensive financial planners assist their clients by evaluating the client's income and assets to determine their financial potential to set financial goals and devise a comprehensive plan to help the clients achieve those goals. A comprehensive financial planner helps clients understand their personal strengths, weaknesses, opportunities, and threats that could affect their financial situation.
Comprehensive Financial Planning for Retirement or Elderly Clients
When it comes to comprehensive financial planning for retirement or elderly clients, comprehensive financial planners assist them in identifying their needs during retirement, the amount of income they can expect to receive at retirement, and how long their assets are expected to last.
Comprehensive financial planners may also provide advice on maximizing Social Security benefits, managing retirement accounts, continuing working past age 65 or 70, selling a business if clients have one, receiving income without losing their assets to taxes, and finding financial help or services if needed.
Comprehensive Financial Planning for Business Owners
Business owners may seek comprehensive financial planning advice to develop a comprehensive financial plan for themselves and/or their business. Comprehensive financial planners who specialize in comprehensive financial planning for business owners assist them with understanding how taxes affect the different aspects of their business and personal finances, understanding the tax implications of different types of investments and retirement plans available to them, and determining how to best set up a comprehensive financial plan for themselves or their business.
Comprehensive Financial Planning With Matthew J. Holt
If you are needing assistance with your financial management don’t hesitate to give us a call. We can help with your wealth management including determining how much life insurance is needed in case something happens to the family's main breadwinner. Comprehensive financial planners also assist clients in planning their comprehensive financial plan for the future - helping them determine how much risk they are willing to assume, what risks they could afford to take, and what adjustments need to be made in order to meet their risk tolerance or needs.
We help clients assess the value of their home, take care of all their financial needs, help clients plan for the future, and understand how investments work. Let us know if we can help you with any of these areas of your finances. We are located in the Kansas City, MO. area but can now connect with clients around the United States through Zoom.