Set a Formal Financial Plan for 2012

Happy New Year! As we welcome in 2012, it is a good time to consider a formal financial plan if you have not already done so. It is my experience that more people than you would think spend more time deciding what car to buy and where they will go on their next vacation than they do on how to help protect their family and their assets.

Please ask yourself the following questions:

• In the event of your death, do your surviving spouse and designated family members have a comprehensive booklet that lists your assets, liabilities and employee benefits, along with special instructions to include an “in the event of my death checklist” as well?
• Do you periodically review your insurance policies to make sure you have protected your family in the event of your death?
• Does your investment portfolio have a written investment policy that is consistent with your long-term investment objectives?
• Have you completed an estate plan? If so, is it reviewed periodically?
• Do you and your tax advisor review your tax strategies periodically?
• Have you evaluated your employee benefits to include your 401(k) plan?
• Have you planned for your retirement, and as a result, are you saving enough money?
• Is there a system in place to manage your IRA and pension withdrawals adjusted for market conditions, so that you do not outlive your assets?
• Finally, do you have a trusted professional that you have designated to coordinate and supervise this activity on your behalf?

La Ferla Group has been in the wealth management business for more than 31 years, and what I can tell you is that the households that have taken the time to address the points we have outlined are the families that are best equipped to manage unexpected events and difficult financial markets.

For more information about La Ferla Group and the services we offer, or to schedule an appointment at a time and place that is convenient for you, please call our office.

From all of us at La Ferla Group, you have our very best wishes.

Please look for our full page ad in Dan’s Papers.

John G. Macri, CFP®

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