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  3. Have a Long Term goal? Financial Planning can Help You get you There

Have a Long Term goal? Financial Planning can Help You get you There

Submitted by Davenport Watts & Drake Investment Advisors, LLC on September 27th, 2017

After several years of wallowing in financial upheaval caused by a severe recession and financial crisis, Americans are looking to the future once again.  A renewed confidence has many people setting their sights on long term goals that may have seemed out of reach just a few years ago.  However, as too many people have painfully learned, simply having a long-term goal is not enough to realize your ambition.

Financial peace is a life destination and requires a map to get there.  All of us have certain things in life we want to accomplish and many of them require financial resources.  Living a secure and enjoyable retirement is a goal shared by most people.  In addition to that, many parents want to be able to provide a college education for their children, buy a bigger house, or expand their business.  These all become intricately linked pieces of your financial puzzle.

A financial plan is about carefully forging those pieces and fitting them in their proper place so that they work effectively together towards your vision.  If a piece is missing or doesn’t fit quite right, it could skew all of the other pieces.  As your situation changes and you become more financially successful, more pieces are needed to complete the financial puzzle (such as risk management, tax strategies, and estate planning).  The financial planning process enables you to focus clearly on your specific goals while addressing all of your concerns.  And, having a well-conceived financial plan enables you to shutout the constant drone of doom and gloom.

Although financial planning is not rocket science – there are plenty of resources available to develop your own – it can become more daunting than the average person is able or willing to tolerate.  The body of knowledge required to navigate multiple disciplines (i.e., investments, insurance, taxes, retirement planning, estate planning, etc) is vast.  A financial advisor can guide you through the process of planning your future, designing your strategies, and navigating the complex universe of investments and financial products.  Of equal importance, he or she can also be your financial coach, holding you accountable to your plan while coaching you through the touch times and encouraging you to the finish line. 

 

 

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Davenport Watts & Drake Investment Advisors, LLC (DWD) is a Registered Investment Adviser, duly registered with the State of Mississippi in accordance and compliance with applicable securities laws and regulations.  In that the firm may only transact business in states in which it is properly registered as an independent advisor or in which it is exempted or excluded from the registration requirement, only residents of the State of Mississippi and those states with an established de minimis rule may receive investment advisory support services accordingly from DWD.  DWD does not render personalized investment advice over the internet.  In no event shall the presence of this website on the internet be interpreted or construed as a solicitation to provide investment advisory services outside of the State of Mississippi or outside of those states with an established de minimis rule regulating the sole and exclusive jurisdiction in which DWD is registered as an investment adviser.  In the future, should DWD seek to solicit investment advisory clients in states outside of the State of Mississippi or outside of those states with an established de minimis rule, an investment advisor registration would first be procured by the firm in such state or states outside of the State of Mississippi or those states with an established de minimis rule. 

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