Financial Planning and Insurance Products in New Orleans, LA

A major part of this problem can arise from a failure to coordinate your financial planning (investment management) and insurance products in a comprehensive financial plan. Many people traditionally find investment advice from one source and get insurance advice somewhere else. However, responsible financial planning should look closely at your insurance needs in conjunction with your financial plan so that each asset can help and protect the other as it grows.

Coordinating Finances and Insurance

Identifying fixed costs and desired expenses is an important start to putting together a retirement budget. Aspiring retirees should remember to consider rising health-care costs, insurance, housing, utilities and transportation when creating a financial plan. Additional variables such as risk tolerance, age and lifestyle goals should also be considered.

Insurance planning takes into consideration many of these same issues. Finding the right mix of term and whole life or even business insurance takes careful planning and consideration. And the costs and benefits of each type of strategy should always be considered right alongside your overall financial plan. Taking this “holistic” approach will help to avoid allocating your assets in the wrong places as well as protect your investments that you’ve worked so hard for.

Retirement and Insurance Planning in New Orleans, LA

Since there are many things to consider when preparing to exit the workforce, it is helpful to find an economic planner who will help protect assets, manage income taxes, recommend insurance products and consult on investments. And living in Louisiana means that you need someone familiar with the specific challenges we face.