Planning Backwards for Wealth

Like your family tree grows, so should your money tree grow to support the goals and dreams of your family. If you’d like to leave RESPs for each of the grandchildren, retire with enough money to travel, and ensure you leave a legacy gift to your favourite charity, where do you start your planning process to achieve all of this? When planning things, many people will build from a starting point to a finishing point. What do I have now, what do I need to do next, and what date do I want to be done by. But to build wealth, a change in how we plan is required. Backwards planning can actually develop the best map for your money. Here’s how:

● Look first at your ultimate end goal.
● Work backwards looking at key milestones needed to reach the big objective.
● Identify five-year timeframes where you’ll need extra effort to reach certain milestones.

The momentum of wealth builds as each milestone is reached. By first mapping backwards, you will then have clear perspective as you move forward through the phases of your life. You’ll see whether you are on track with each milestone, you’ll know when you need to put added effort in, and you’ll make adjustments faster if you realise things aren’t on target. And it allows Your Financial Team to determine the best wealth management tools suited to your specific plan to help you reach your personal milestones and the big end goal.

At Stalker Financial Group we can help you prepare for the future wants and needs of you and your growing family tree. We’ll work with you to plan backwards and help put your plan into action. And with Stalker Financial Group as Your Financial Team, we can also identify what insurance and estate planning documents you need to protect yourself and your family throughout your growth. Your financial tree will prosper with Stalker Financial Group.

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