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What is Financial Planning?

Financial planning generally refers to planning related to your Retirement, Investments, Estate, Insurance needs, Taxes, and Cash Flow (budgets). It also can include planning for college, management of a small business or the management of Real Estate. Financial Planners differentiate themselves from Investment Advisors or Financial Advisors by providing planning services/counsel for all or most of the above topics. 

Why might you need a financial planner? 

Let’s look at a couple of facts from the National Association of Personal Financial Advisors:

The latest NAPFA consumer survey of adults ages 22-64 (July 2019) shows that Americans are overwhelmingly stressed about their current and future finances. 74% of Americans wish they could have set up a better financial situation

Looking to the future,
34% believe finances will stress them out later on in life
26% feel they have just enough to get by without working
22% feel they won’t be able to enjoy retirement due to finance problems

More than 54% have not yet considered their options for retiring, while 50% of Millennials surveyed said their relationship with money is stressful, compared to 44% of Generation X and 37% of Baby Boomers.

37% of those surveyed believe they would feel secure about their financial situation if they started working with a professional financial planner, while 28% believe they’d feel empowered and 26% believe they’d feel excited. 

(Information can be found at NAPFA’s website under Financial Planning. Retrieved June 25, 2020, from https://www.napfa.org/financial-planning)

At Core Financial Planning, we will look at your entire financial picture and help you fit the pieces together properly. You likely have several financial planning pieces in place—you pay taxes, invest at least a portion of your savings, have some insurance, and maybe you have a will and have done some planning for retirement…but chances are each of these pieces was developed independently and at different times in your life. Is it any surprise then that you’re unsure if you’re on the right track and making all the progress you could be?

To be effective, financial planning needs to be coordinated. Each piece of the financial plan needs to accomplish its own specific tasks as well as support the tasks of each other piece.  At Core Financial Planning, we also handle several additional or detailed financial topics under the umbrella of Financial Planning. (Refer to the Limited Term Engagement page under Services for details.)

Do you know where your money goes each month?

Cash Management

Are you confident that you and your assets are adequately and properly insured?


Will you be able to retire with the lifestyle you want?

Learn more about Retirement Planning → 

Who is deciding what happens to everything you’ve accumulated when you die—you or the state?

Estate Planning

Are you funding your child’s education at the expense of your future?

Education Planning