Wealth Management & Retirement Strategies

If you aren’t sure how to achieve your short or long-term financial goals, financial planning services can help you strategize a path toward achieving your objectives. Whether you are saving for education or planning for retirement, financial planning can be very helpful. Here’s what you need to know about financial planning.

What is a Fiduciary?

Our trusted advisors are Fiduciaries. A Fiduciary Financial Advisor has the legal duty to make investment recommendations with your best interest in mind, while other advisors who may not be a Fiduciary may recommend products for which they receive a commission or other form of payment.

What Is Wealth Management?

A financial plan is a set of documents that contain a person’s current financial information and long-term monetary goals. The plan also includes strategies that can be used to achieve those goals. Financial plans can be produced independently, but people often seek assistance in the process. That’s why companies like American Family Solutions offer full-service financial planning to their customers. 

Why Do You Need a Financial Plan?

A financial plan can help you prepare for the future by allowing you to lay out all of your financial goals in a concise document. With a financial plan available, it’s easier to understand if all of your financial needs are being met. Although financial plans don’t have a set template, a licensed financial planner should be able to produce a plan that assesses risk, informs investments, and minimizes tax burden. An estate plan can also be included to arrange for the benefit and protection of your heirs. 

How Are Financial Plans Made?

Financial planning involves several steps. First, you calculate your net worth, then you determine your cash flow, and after that, you balance priorities. Here’s a little more information about each step. 

Determining Cash Flow

Cash flow is defined as the amount of money coming in and coming out. By documenting transactions, you can track the flow of cash in and out. Once you understand how much money is being spent and how much is being earned, you can determine how much you have available for saving, investing, and buying necessities.

It’s best to evaluate an entire year because expenses can change seasonally. By doing this, you can avoid over or underestimating what you spend in the given time frame.


When working to determine cash flow, your financial planner will document how much you’ve paid for basic housing expenses, like rent and utilities and credit card interest. Then, they’ll add categories for food, transportation, medical insurance, clothing, and other forms of spending, like entertainment and vacation travel.

Organizing Your Priorities

To get the most out of a financial plan, you must have clearly defined goals. Your financial planner will help you figure out what takes priority and develop a financial plan that will help you reach your objectives. This may involve matching you with a detailed savings plan or suggesting specific investments that will help you prepare for the future.

Get Your Financial Plan Created

If you’ve never had a financial plan made, you’re missing out on the clarity that these tools offer. To get your financial plan created, contact American Family Solutions.


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We Provide the Financial & Insurance Solutions You Need

Regardless of the type of plan or coverage you need, American Family Solutions will safely guide you through retirement so you can enjoy your golden years with peace of mind knowing you are protected.