Financial Planning for Freelancers: Q&A with writer Kate Racculia
The gig economy accounts for more than one third (36 percent) of U.S. workers — that’s approximately 57 million people — according to a recent article in Forbes. While this…
Comprehensive Personal Financial Planning
Our process for Personal Financial Planning
We have set in motion a process that allows us to discover the needs and goals of our clients and introduce you to our comprehensive financial planning philosophy.
Through our six-step process, we work closely with you to identify goals, analyze your balance sheet and develop influential wealth management recommendations. We also bring together your various advisors, including accountants, attorneys and bankers to make sure everyone is working toward a common goal with their support to you.
Our process includes:
- Defining how we will work together
- Determine goals and gather your financial information
- Analyze and find creative solutions to achieve the goal
- Develop recommendations based on real experience rather that pre-listed products.
- Put your plan into motion
- Monitor your progress to keep you on track.
With your comprehensive financial plan as the foundation, our advisors will guide you on your financial journey, leading you along the path towards goal achievement.
“An investment in knowledge pays the best interest.” – Benjamin Franklin
The importance of analyzing cash flow and budget
You can’t calculate where you’re going financially unless you know where you stand now. You’ll need to look at your income and expenses – that is, your cash flow
- How much discretionary income do you have after you meet your fixed expenses?
- How much of that do you feel comfortable saving or investing?
To find answers to these questions, we suggest drawing up a budget. A budget lets you see how you’re actually spending your money today compared to how you think you’re spending it. Our financial advisors can help you use your budget to change your spending patterns; and changing your spending patterns is the first step to improving your cash flow.
3 Tips for Personal Finances During the Holiday Season
Ballast Financial Professionals share tips for your personal finances this holiday season. (originally published November 2018) Between holiday gifts, parties and meals — this time of year is one of inevitably higher…
Why You Need Life Insurance
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5 Tips for Spring Cleaning Your Personal Finances
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529 College Savings Plans
A brief history 529 plans were created by Congress in 1996 and have been modified through the years by various pieces of legislation. Known officially as “qualified tuition programs” or…
Why Do I Need a Financial Planner?
Why do I need a Financial Planner? Financial planning is about more than just managing money. It’s about setting goals for your future and taking steps to achieve those goals….
Financial Planner vs Financial Advisor? Making sense of these titles and other tips on choosing a financial professional
Professionals at Ballast Advisors, LLC delineate differences between financial professional terms and designations to help empower your choices around personal financial planning, retirement planning, and more. What is the difference between…