Eleven Months Left

Bill Parrott |

January has come and gone in a flash. Are your 2024 goals intact? Do you still wake up at 4:30, hit the gym, run 50 miles, take a cold plunge, eat kale, meditate for hours, document your journey, and post it to social media? Or have all your hopes, dreams, and goals already vanished? Fear not; there is always tomorrow, and tomorrow is the best day for the procrastinator.

Financial planning is an excellent tool for committing your goals to paper, and working with a financial planner gives you a coach, accountability partner, and confidant. The financial planning process is a journey, not a destination; the calendar does not hinder its progress. If 2024 was your year to commit to a financial plan, you still have eleven months left, so let's go!

Our team helped several clients with their financial plans last year, and many achieved their goals, whether it was buying a new home, paying for college, or retiring. Their plans gave them the courage and confidence to proceed with peace of mind.

For many of our clients, retirement is the ultimate prize. We recently completed a financial plan for a client contemplating retirement, and he was looking for a second opinion and evaluation. His plan was solid; he could retire anytime to pursue his dreams and hobbies. However, he was not quite ready to retire until he traveled to another country, and on the long-haul flight, he decided it was time. I saw him last week, and he smiled from ear to ear. I knew he had made the right decision. He was at peace.

A financial plan is more than a document; much more. It helps articulate your desires and identifies the essential things in your life. It also changes as you age and achieve your goals, reflecting what's important today. Furthermore, it aligns your investments with your goals and beliefs. If your investments align with your plan, you're more likely to stay invested long-term despite the market's volatility. The market rewards patient investors. Also, you may achieve your goals sooner rather than later because of the performance of your portfolio.

Tax season is an ideal time to start your financial plan because you're already gathering your financial and estate data, so why not take it one step further and commit to a financial plan? Today is the day. Tomorrow has arrived.

 

How did it get so late so soon? Its night before its afternoon. December is here before its June. My goodness how the time has flewn. How did it get so late so soon? ~ Dr. Seuss

February 5, 2024

Bill Parrott, CFP®, is the President and CEO of Parrott Wealth Management in Austin, Texas. Parrott Wealth Management is a fee-only, fiduciary, registered investment advisor firm. Our goal is to remove complexity, confusion, and worry from the investment and financial planning process so our clients can pursue a life of purpose. Our firm does not have an asset or fee minimum, and we work with anybody who needs financial help regardless of age, income, or asset level.

Note: Investments are not guaranteed and do involve risk. Your returns may differ from those posted in this blog. PWM is not a tax advisor, nor do we give tax advice. Please consult your tax advisor for items that are specific to your situation. Options involve risk and aren't suitable for every investor. Prices and yields are for today only and are subject to change without notice. Past performance is not a guarantee of future performance.