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Take an Inside Look at a Financial Plan Thumbnail

Take an Inside Look at a Financial Plan

Matt Fry

By Matt Fry

We have no lack of information these days—reviews, history, product specializations, and more details than we’ll ever need about anything we want to buy are right at our fingertips. In other words, before making a major purchase, we can arm ourselves with knowledge to make the best choice possible. 

While creating a financial plan is in a different category than buying a car or putting an offer on a home, we believe it’s just as significant of an investment and you should know what you’re getting before you pay a penny. 

Because we develop custom financial plans for each client, it’s no easy task to provide one without working with you extensively. However, we want to share what your potential financial plan could look like so you can picture the depth of our analysis and how this understanding can benefit your future financial life. If you choose to work with us, here is a sample of what you can expect. 

What Does a Financial Plan Cover?

First, you may be wondering what goes into a comprehensive plan. Financial plans often address a myriad of concerns and goals, from college planning to retirement income strategizing. Depending on your needs, your plan may narrow in on one element or address multiple goals you’d like to achieve over time, such as understanding your true cost of living before you retire, ensuring your money lasts throughout your life, and reducing the taxes you pay in retirement. Whatever you choose to focus on, your financial plan is designed to serve as your road map, helping you navigate the years before, during, and after your transition to retirement.

We believe a good financial plan should give you a detailed, complete view of your current financial situation, a thorough modeling of where you want to be, and the actions you need to take to reach those goals. It should address all the pieces of your financial puzzle, from stresses and fears to your values and dreams, and include risk factors, cash flow, retirement, estate planning, taxes, education, and income strategies to help bring you clarity and guidance. It is through our planning process that we can help you prepare for life’s expected and unexpected circumstances.

The result is a simple yet powerful blueprint to guide you toward financial freedom.

Let’s Take a Closer Look

Here is a sample financial plan that reflects our “One Life Formula” planning process—a plan that addresses your complete financial picture and focuses on both what matters most to you and what you can control. This plan looks at a fictional client’s lifestyle income plan and how we developed it, including identifying their goals, creating a balance sheet, reviewing their cash flow, and more. 

Keep in mind that this is only a hypothetical plan presented to illustrate what a client’s plan may resemble should they work with us. The characters and circumstances are completely fictional and are for illustrative purposes only. Be sure to seek the advice of a qualified professional for your particular situation and not rely upon any of the information herein to make personal financial decisions.

We provide an overview of your current situation. With just one glance, you can see a big picture of your financial life, including assets broken down into specific categories and short-term and long-term liabilities. 

Next, you see a detailed look at your projected retirement income and expenses with a custom-designed withdrawal plan to meet your needs.

Then your plan will go on to analyze every piece of your financial puzzle, showing detailed projections for income, expenses, assets, and mapping your progress toward your goals. This will show you where you will stand in retirement and give you something to aim for as you draw closer to your retirement years. 

Because the future is uncertain, we run a risk assessment and use a Monte Carlo simulation to test your financial plan. A Monte Carlo simulation runs 1,000 hypothetical simulations of your plan using different, randomized stock market outcomes to determine the probability of success for your plan. We run an initial test based on your current scenario and then collaborate with you to tweak different variables—retirement age, Social Security strategy, goal spending, savings amounts, and others—to come up with a plan that has a high probability of success and feels good to you. 

In addition to a detailed study of each of your goals and a clearly mapped-out plan to get you there, we also create a risk management plan to cover your bases and help give you increased confidence. The end result? An actionable implementation list and a road map for your future.

Get Started on Your Plan!

If you want to see even more features of our financial plans, download our full sample plan here. Once you’ve taken a look, reach out to us at Shelton Financial Group to schedule a no-obligation consultation, and together, let’s find out if we’re the right people for you to depend on during your journey to a comfortable retirement. Contact us at 260-436-7006 or schedule your free 30-minute Fit Call online

About Shelton Financial Group

Shelton Financial Group is an independent, multi-generational firm in Northeast Indiana that takes a team approach to addressing their clients' most pressing financial concerns. SFG was founded in 1996 with the mission of helping people enjoy their wealth. Using their proprietary “One Life Formula,” the team at SFG focuses on what matters most to their clients and what they can control, integrating their wealth management needs with other aspects of their financial picture. To learn more about Shelton Financial Group and how they can help you achieve financial independence, visit them online.

The information expressed herein is obtained from sources that are believed to be credible, however, their accuracy cannot be guaranteed. All data is created from publicly available information and has not been independently verified by USA Financial.