“The resources included in financial planning cover what accountants call assets – real estate, cash on hand, stocks, bonds, mutual funds, trusts, inheritances, and the like. They also contain inner resources like dependability, timeliness, energy, dedication, discretion, enthusiasm, optimism, persistence, honesty, the ability to earn income, and the capacity to save.
—George Kinder—The Seven Stages of Money Maturity p. 140

After completing the Financial Road Map®, the next step is for Steve Margulin and his team to develop a written Financial Plan for you. The plan benchmarks where you are now and looks at where you need to be in the future to accomplish what you want to do.

The goals that require money and planning are written up; your desired income level is projected; and future purchases are examined so you can see how much money is needed. From here on in, the financial plan will be the primary tool used to measure progress towards goals. It’s very much like having a personal trainer who keeps you on track.

The written financial plan that Steve and his team write is comprehensive:

It involves choosing investments according to the level of risk that you are comfortable with.

It includes a forecast for retirement income.

It looks at the amount and types of insurance you’re going to need.

It considers children’s higher education needs.

It takes into account estate planning, trusts, and wills, when applicable.

It includes what your budget is and how you’re spending compared to what your budget needs to be, and how you’re going to change that, if necessary.

Once your initial financial plan is written, it isn’t carved in stone. A financial plan is a work-in-progress. Things change; therefore, your financial plan must be revisited and updated annually to keep in line with those changes.