Long-term financial plans can forecast the resources that will be needed to achieve financial and operational goals.
The survey findings reinforce the importance of pre-retirees to reassess their
long-term financial plans and work with a financial advisor to prepare a 'rainy day' scenario to ensure they are protected in case the unexpected occurs.
We can active]y develop
long-term financial plans at whatever level of detail is appropriate in our own circumstances.
As baby boomers build their
long-term financial plans, which may include varied objectives such as transferring their wealth to the next generation or contributing to charitable causes, it's increasingly imperative that advisors have the ability to offer comprehensive services to their clients who have or will be moving their assets into trusts.
Michael Neff, Head of Wealth Management for RiskMetrics Group commented, "The most solid,
long-term financial plans are those that enable advisors and their clients to match the right level of risk tolerance with the desired return over a projected time horizon.
Among active investors age 50 to 90, nearly 60% of current retirees and 50% of individuals who expect to retire within the next five years are developing their own short- and
long-term financial plans rather than seeking the advice of a financial professional.
The time and money needed to care for children with special needs enormously complicates parents' ability to make
long-term financial plans.
The American worker's commitment to their
long-term financial plans has actually strengthened since the war with Iraq began, according to the First Quarter 2003 Principal Financial Well Being Index.
This latest Index, the ninth in the series, suggests: -- Employees remain committed to
long-term financial plans, even in the face of war and continued unstable economic conditions -- The vast majority of workers have not reduced contributions to their defined contribution plans -- Most employees expect a tax refund and will use the money to pay down short-term debt -- More than half of employees have already received or anticipate receiving a raise in 2003 -- Workers are paying more for healthcare coverage WHO: Dan Houston, senior vice-president, will be available to discuss the Index findings and other personal finance issues, including concerns about retirement savings, investments, benefits, and overall financial well-being.
With lower expenses, ASAP III also offers a traditional, core variable annuity that investors can build upon, according to their
long-term financial plans," said Jac Herschler, American Skandia's Vice President of Variable Annuity Marketing.
com, which was redesigned about a year ago, has enabled investors and their financial advisors to engage in the kind of dialogues which create sound
long-term financial plans in virtually any economic or market environment," he said.
Cobb will direct and oversee Palmchip's
long-term financial plans and interface with the financial and investment communities.
