How much is a good idea to save? Is it better to pay down debts first? Do you need to start thinking about retirement planning?
Many of us use a budget to plan our income and daily spending. The next step to think about is building a financial roadmap. A financial roadmap gives you a bigger picture view of your finances and where they’re headed. Think of it as an easy way to map out your financial future and an important tool for your wealth management. It even comes with clear steps to help achieve your goals.
How does it work?
When you meet with a Prospr advisor to build your financial roadmap, you’ll start with an overview of the basics like how much you make, your typical monthly spending, and any investments you have. And then you’ll get to the fun part! What do you want to do with your life? What are your goals? Are you hoping to buy a cottage, travel somewhere new every summer, have kids and send them to university? Everyone’s plans are different, which is why your personal financial roadmap is unique.
After your discussion you’ll get your financial roadmap, showing:
- A complete picture of your finances including your cash flow (how much you earn and spend) as well as your net worth (how much you’ve saved, what you own and what you owe).
- An outline of where you want to go. It will include any goals such as saving up to buy a house, building your retirement savings or planning an epic vacation—whatever you want.
- Actions you can take to make progress toward your goals.
And your advisor is with you the whole time to keep you on track and guide you down the road.
Why would you want a financial roadmap?
It’s much easier to plan your next steps when you know where you’re headed. That’s where your financial roadmap comes in. It’s like a compass that points you in the right direction. And one that will give you excellent peace of mind.
Get started now with our easy-to-use online tools. And then, when you’re ready, talk to a Prospr advisor to get started on your unique financial roadmap.