Design a sound financial plan

playHere are 5 things that a financial plan must have.

  • Goals and objectives
  • Realistic projections
  • Easy to follow language
  • Guidelines you understand
  • Goals, objectives and projections that are truly yours, not numbers that are plugged into a generic program that is given to you

Create a budget and stick to it

Here are some helpful suggestions to make your budget work for you.

  • Create a list of budget categories like food, fuel and fun
  • Document everything you spend for 1 month
  • Get credit card printout of all the categories you’ve been allocating money towards (credit card companies will supply this)
  • Actually fill in the numbers on your budget worksheet

Auto deposit directly from your paycheck

  • Save 15 – 20 % of gross annual income
  • Significant other must be on same page
  • Keeping the money you save (no risk) separate from the money you are investing (risk)
  • Annually review your savings plan

Diversify you investments

Simply put it’s not prudent to put all your money in one basket.  Diversifying your investments is a wise choice.*

  • Based on risk tolerance, a portfolio may have a mix of…
    • Balanced stock market driven products
    • Protection driven products
    • Safe, liquid money accounts
    • Real estate

Work with a financial advisor

The overwhelming majority of individuals work with some sort of financial advisor. We believe a effective financial advisor will strive to…

  • Be your financial sounding board
  • Bring economic truth to the table
  • Guide you on the right path to financial success
  • Always act in your best interest
  • Make Every Dollar Work Harder, Smarter, Faster, and Safer

 

* Diversification does not guarantee profit or protect against loss

Take The Living Balance Sheet® Financial Scorecard Questionnaire
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Take The Living Balance Sheet® Financial Scorecard Questionnaire to determine where you are financially and where you need to be to be prepared for the future you want to live (instant results!).
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Contact Varno + Co

920 2nd Avenue South Suite #1100 Minneapolis, MN 55402
(612) 746-2267 (Office)
(612) 746-2399
joe.varno@varnoco.com

Our Strategic Alliance