Broker Check


| June 22, 2020

Stop guessing about what could be in the way of your financial goals and start a plan of action.

Everyone could benefit from a financial plan. While your situation and goals are specific to you, having an objective appraisal of income, investments, insurance, and taxes can be helpful to anyone wanting to gain awareness into their financial options.

A comprehensive financial plan is a dynamic and detailed process that uncovers opportunity, identifies potential roadblocks, and maps out a clear path to pursuing your wealth goals.

These are some of the areas that a financial plan can help you with:

  1. Maximizing Income: Having a financial planner review your finances can uncover opportunities to maximize your income by identifying tax savings or by using better suited investment options for your needs.
    For example, perhaps you could reduce taxes or out-of-pocket expenses by utilizing your employment benefits accounts. A financial plan by an experienced professional will shed light on ways you could maximize the money you earn.

  1. Cash Flow Management: Careful analysis of your spending habits and expenses can help you better manage your cash flow needs. It is also important to be aware of changes in income and cash flow effects on your taxable income.

  2. Effective Tax Strategies: As your assets increase, so do your options for incorporating tax strategies to attempt to retain as much of your earnings as possible. Understanding the tax implications of your investments, earnings, and withdrawals is a critical part of your overall financial plan. And as you begin taking withdrawals in retirement, your retirement savings may include a pension, IRAs, a 401(k) account and stocks, bonds and mutual funds all with different tax implications. Taking funds from pre-taxed accounts could be a way to leave your tax-deferred accounts to continue to grow until you need them.

  3. Estate Planning: An estate plan allows you to take control of your wishes for your finances, medical care, and distribution of assets before the need arises. It is important to have a proper will, trust, health care surrogate, and/or power of attorney in place to make sure your wishes are carried out.

  4. Investment Strategies: As life changes, so should your asset allocation and diversification. A financial planner will examine your specific objectives to determine what particular services and investments are suitable for you. An appropriate mix of investments in your portfolio can potentially reduce overall portfolio risk and help enhance total return.

  5.  Risk Management: Do you have the proper insurance coverage for your family and business? Are you aware of the liabilities you have? Utilizing the appropriate insurance products and trusts can help protect your assets and help allow them to grow to reach their full potential.

  6. Tracking Your Goals: Having a clear plan allows you to identify where you are on your financial path and track how you are progressing towards your goals. A financial plan documents measurable goals making it easier to gauge if you are keeping up with the steps outlined in your plan.

  7. Confidence: A CFP Board survey [1] shows that people with a financial plan feel more in control and more confident about their finances than people without one. Spending time planning now for the future you desire is worth it.


At Brentwood Financial Advisors, we use a discovery and assessment process to help you pursue the best life possible. Regardless of where you are at in your journey, we can help you put together a financial strategy that fits your lifestyle while gaining clarity into how your finances are working for you.

Ask us for a checklist you can use to start identifying the areas of concern and begin your plan of action. 

Start your planning process with a complimentary consultation today.

Call us at (424) 363-6862
We look forward to helping you.


For discussion purposes only and in no way represents legal or tax advice. For advice regarding your specific circumstances, the services of an appropriate legal or tax advisor should be sought.