Financial Planning

Frequently Asked Questions

1. What is financial planning?

The act in which a business or person determines how they can afford to achieve its strategic financial goals. The plan lays out each step required to achieve these goals.

2. Why would I need a financial plan?
Whether you are thinking about retirement, college funds for children, purchasing your first home, starting your own business, it is crucial to have a plan in place in order to be financially secure with these endeavors. Using Statewide Tax and Financial, you will be in great hands who makes sure you will reach those milestones.

3. What do financial planners at Statewide Tax and Financial do for me?
Financial planners at Statewide Tax and Financial will develop a detailed plan that lays out where areas of opportunity are with your finances. We will diligently go through your current investments in depth and formulate a plan that works personally for you. Unlike the bigger companies, Statewide Tax and Financial won't give you a big box solution. We will personalize the plan to you and your families needs. With three decades of experience under our belts, you cannot find a better company to handle your finances.

4. What should I look for when searching for a Financial Planner?
When searching for the right financial planner for you, look for a company with certified financial planners (CFP) who are licensed and regulated to work with your finances. Look for a company that is truly going to care about you and your situation. A lot of companies will supply a standard plan without taking into consideration a persons current standing.

5. What type of information do I need to provide?
Call us today for specifics documents required to assess your situation.
Documents you may need to bring are; 401(K) and any other investment statements. Mortgage and any other debt statements. Pay stubs for you and your spouse. Most recent tax return and your monthly budget.

6. What should be included in a financial plan?
After creating a financial plan you should have every aspect of your finances including; saving and investing, how to clear your debt, insurance costs, taxes, retirement planning, estate planning, and college funds (if required).

7. How often should I be updating my financial plan?
A solid financial plan is recommended to be updated at least once a year. Taking into consideration your goals, income changes, and life events this may be more frequently.

Call Statewide Tax and Financial today to get a personalized financial plan that fits your needs!