Financial Planning Meeting Preparation Tips

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Financial planning may seem like a stressful process, but a reputable financial planner or attorney can make the process much easier. However, you still need to do your part to prepare for the meeting before searching for and scheduling appointments with financial planning attorneys Ridgewood NJ.

Set Your Goals

Your first step should be setting your retirement goals. For example, when do you hope to retire, and what type of retirement do you hope to enjoy? Will you travel or work part time? You will need to evaluate your expected financial needs and desired lifestyle at that time in your life.

If you are planning early, you should consider including how to pay for your children’s college educations or any other expected expenditures. Include when you will pay off big bills, such as homes and vehicles.

Gather Your Paperwork

If you have not created a budget, this should be your next step. You may also create a spreadsheet or list of projected debt payoff dates. You should also create a list of your income, assets and liabilities.

Hopefully, you have your papers already organized, but if not, this step may take a while. Your financial planner needs to see your debts and income, so your mortgage, auto loan and revolving debt statements should be gathered. Include your most recent taxes, pay stubs and statements about any other income source. Your investments, including your 401(k) paperwork and statements, should also be included.

Question List

If you have never been to a financial planner, you will probably have questions. You may have concerns about how much you need to save and invest for each big expense, and especially for college tuitions and retirement. You should also discuss yearly and other fees. Spend some real time gathering questions. You may even search online for questions you should ask.

If you are ready to prepare for your financial future, don’t hesitate to contact a reputable financial planning attorney.