Remove Insurance Coverage Remove Presentation Remove Risk Tolerance
article thumbnail

Why Should You Care About Financial Planning?

Workable Wealth

This could come in many forms: Negative spending habits Little to no emergency fund Inadequate investment vehicles Improper risk management and insurance coverage Making emotional financial decisions Overpaying on taxes Acquiring unnecessary debt Incurring penalties and fees Let’s look at a few of these examples more in-depth.

article thumbnail

Top Insights Driving Financial Planning Strategies in 2025

WiserAdvisor

Comprehensive financial planning involves budgeting, investment planning, tax optimization, debt management , insurance coverage, retirement strategy, and even estate planning. On the other hand, a young person who relies on freelance work or part-time jobs and does not have a stable income might not have the same risk tolerance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Why Should You Care About Financial Planning?

Workable Wealth

Improper risk management and insurance coverage. You will have an investment strategy that already accounts for your risk tolerance, capacity, time horizon, and goals. With a financial plan you can rest easy knowing your money is working for you, and knowing you’re taking care of your present and future needs. .

article thumbnail

6 Financial New Year’s Resolutions for 2023

WiserAdvisor

Consider consulting with a professional financial advisor who can assess your present financial situation, investment portfolio, and retirement plan and guide you if you need to change it for 2023. Creating a budget at the start of the New Year can help determine your present net worth and compare it to the previous year. SPONSORED.

article thumbnail

Retirement Planning Tips: How Much an Average Person 65 and Older Spends Every Month

WiserAdvisor

Let’s consider a hypothetical scenario where your present household income is $90,000. You must focus on developing an investment plan that aligns with your financial goals, income, age, risk tolerance, and time horizon. A well-diversified portfolio is less sensitive to the impact of a single market event.