Financial Planning in NJ

The way you manage your finances will have a significant impact on your overall financial security. The objective of financial planning is to set realistic goals to help you live a secure and comfortable lifestyle. Trust RMG Accountants and Consultants to provide you with the substantial financial guidance you’ll need for monetary confidence.

Financial Planners in New Jersey

Financial Security with RMG

RMG assists individuals and businesses of all sizes towards long-lasting financial security. We’re able to achieve this by carefully tailoring a uniquely customized plan for each client. RMG’s experienced professionals will help you create a financial plan geared specifically to accomplishing your individual goals and maintaining complete awareness of your assets.

Creating a Financial Plan

A financial plan is an evaluation of an individual’s financial status. This monetary blueprint notes a client’s current assets and sets predictions of future cash flows. Implementing a plan with your financial planner will give you an accurate overview of estimated financial growth and forthcoming responsibilities. The template selected will be unique only to you, but most plans will contain the general elements seen below.

Establish Financial Goals

Financial plans are built around your life goals. These goals should be realistic so you’ll be able to attain them in time and maintain your financial strategy. Whether you’re saving for college, a new home, or new car, these goals will help mold your personalized financial plan.

Net Worth

A statement of your net worth will be needed to help measure progress. This will help identify current assets to benchmark for the future.

Cash Flow Analysis

Analyzing your cash flow will help you understand how much of your liquid assets are acquired and spent given a specific timetable. A cash flow analysis determines how much needs to be set aside for savings and liabilities.

Retirement Strategy

A financial plan will most likely incorporate a retirement strategy. This will help you understand how much needs to be saved so you can be financially independent and secure upon retirement age.

Risk Management

Risk management identifies all risk exposures and will provide a strategy to protect your financial stability. This will reveal numerous coverage and insurance opportunities to utilize.

Long-Term Investments

A financial plan can include long-term investment planning to set guidelines and restrictions on the purchase and sale of investment assets. This can be benchmarked for use to review in the future.

Tax Strategy

A tax strategy within a financial plan will display the available options for legal tax code reductions.

Estate Plan

Your financial plan can also have guidelines to arrange the preservation and future distribution of assets. Trusts and wills will be set up to protect your assets posthumously upon request.

Financial Planning Assistance in New Jersey

RMG is here to help you create a stable and profitable future. With a solid, customized financial plan in place, business and individuals will be prepared to face any financial challenge that may present itself. Our financial planning experts will help you plan for the road ahead, even after you’re gone. If you’re interested in building a more secure financial picture, contact RMG today or give us a call at (973)-755-1528. Our accounting services will help prepare you for anything that comes your way. For additional information on the firm, please read our blog and the industries we serve.