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Your Financial Future

Your Financial Future

| January 02, 2024

While your parents may be nearing retirement, or already retired, you might just be in the beginning stages of planning for your own. You have different needs and complexities than your parents and may or may not have already started putting specific plans and goals in place. And with so many things that demand your attention these days - your career, starting a family, and possibly even launching your own business. Sometimes it is overwhelming to find the time, knowledge, and energy to really focus on your own financial situation. So, what do you do?

Regardless of where you are right now in the process, the key to a well-established and executed financial plan is making sure you implement and monitor your plan. For most this is where engaging with a financial professional to help you stay on track is extremely helpful. Because as we stated above, who has the time, energy, and expertise to manage this.  Well, I know who does; the team at Phronesis Wealth Management in Severna Park can help you devise, implement, and pursue your personal vision of financial success.

So how can we help?

Getting a Financial Plan in Place

  • Cash Flow
    Paying off high-interest debt can be the first way to begin saving, as this can improve cash flow dramatically. Together, we can establish goals, create a budget, and set up an emergency fund.
  • Tax Reduction Strategies
    Deductions… Exemptions… Credits… Reviewing these components of your tax return may have a financial impact on the taxes you pay.
  • Retirement Planning
    With retirement often lasting 20 years or more, shrinking Social Security benefits, rising health care costs and inflation, you may be concerned about outliving your savings. Our experienced advisors can review your current retirement account(s) and help you choose strategies that aim to accumulate wealth for your retirement income needs.
  • Asset Allocation
    Asset allocation could play a critical role in helping to mitigate the effects of market volatility on your retirement savings. When was the last time you reviewed yours?
  • Family Protection
    How are your financial papers titled? Do you have sufficient life insurance? When was the last time you updated beneficiaries and guardianship? Do you have a current will? Having these items in order is especially crucial if you have a growing family.
  • College Funding
    With soaring college costs, starting early with a well-planned offense can make a big difference when building an education fund for your children.

These are just a few areas where working with a financial professional may be of help to you and your family.

Get Started Today - Schedule a Complimentary Appointment

The team at Phronesis Wealth Management looks forward to assisting you whether you are seeking help from a financial advisor, or a second opinion. We will coordinate with your accountant, stockbroker, lawyer, and insurance agent to provide you with an independent view of your financial position. You can schedule a complimentary, introductory appointment directly at https://go.oncehub.com/phronesis or call our office at 410-647-6762 during regular business hours.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Asset allocation does not ensure a profit or protect against a loss.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.