2013-10-03 / Local & State

Financial Solutions

Having A Plan Can Help You Reach Financial Goals
By Wells Fargo Advisors

Regardless of where you are in life, you probably have a vision of your future. The decisions you’ve made along the way and the priorities you define as a result of those decisions can help you achieve your most important goals, even as they – and your life – change. But with the uncertain economy and market conditions we’ve been experiencing, you may be asking yourself, “How am I doing?” or “Am I going to be ok?”

Now more than ever, it’s important to keep a few things in mind. First of all, never forget why you are investing. Perhaps you want to retire comfortably or send a child or grandchild to college.

If those events are years away, you may be able to look beyond the current economic woes and market downturns.

Second, having a clear idea of your priorities and goals is important because it helps define your time horizon. If you’re saving for a child’s education, your time horizon may be shorter than if you’re saving for retirement. When it comes to investing for the future, knowing your time horizon and having a plan helps your financial advisor craft suitable diversification for your portfolio and implement strategies that can help you reach your goals without taking unnecessary risk.

Investors with a plan are more optimistic

In a recent survey conducted by Wells Fargo Advisors, results clearly demonstrated that having an investment plan makes a marked difference in the level of comfort and confidence people feel about their financial future. the firm engaged Harris Interactive to conduct a survey of their clients to gather their thoughts and feelings about the unique Envision investment planning process.

Combining goal-based advice with sophisticated statistical modeling, the Envision process is an effective, ways-to-understand method used by the firms’ financial advisors to help clients identify and prioritize goals, explore various cash-flow strategies, select investments suited to clients’ objectives and preference, and track clients’ progress toward achieving their goals.

The survey clearly demonstrated that having a plan makes a marked difference in the level of comfort and confidence people feel about their financial future. Among the clients surveyed, plan holders gave the Envision process high marks:

98 percent know where they stand in reaching their goals

95 percent feel they are able to live the life they planned

93 percent say they will retire on their own terms

92 percent feel in control of their finances.

The survey results pointed to two main findings; first, that investors who have a formal investment plan report a higher level of confidence than those who do not, and second, that clients who follow Wells Fargo Advisors’ Envision planning process appear to be more satisfied and confident in achieving investment and retirement goals than other investors.

To learn more about the Envision investment planning process visit wellsfargoadvisors.com.

This article was written by Wells Fargo Advisors and provided courtesy of Todd Alexander, the Alexander Financial Group in Mc- Connellsburg.

Investment products and services are offered through Wells Fargo Advisors Financial Network LLC (WFAFFN), and Member SIPC. The Alexander Financial Group is a separate entity from WFAFFN.

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