Financial Planning: Get Step One right

Опубликовано: 28 Октябрь 2024
на канале: Mullooly Asset Management

178

Nothing else matters in financial planning if you screw up this one thing.

People ask us all the time "what's most important part of financial planning?"

Is it knowing when to take social security?
Is it getting the proper balance between growth and income?
Is it knowing whether to be in mutual funds or ETFs (exchange traded funds)?
Is there some kind of tax strategies we should be employing?

I'm telling you nothing matters if you screw up the very first step.

*Three Key Takeaways:*
1. Nothing else matters in financial planning if you screw up the very first step: knowing your cash flow.
2. You must know what's coming in and going out every month; understanding your expenses on a monthly basis is crucial.
3. Building a cash flow report is the first step in financial planning at Mullooly Asset Management, as it drives decisions and recommendations for clients.

#cashflow #retirementplanning
#cfp #monmouthcounty #monmouthcountynj #feeonly
#fiduciary #financialplanner #financialplanning

Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times.

Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals.

To our knowledge, WE ARE THE ONLY FAMILY firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification.

Tom Mullooly is an investment industry veteran of over 35+ years. The "Mullooly Asset Show," has over 350 episodes and over 450 unique podcasts, which can be found on the site https://www.mullooly.net.

The "Mullooly Asset Show" answers questions and cover topics that YOU bring up.

Our topics and questions range from those brought up, or sent in, by our viewers.

Get in touch with us here:
Office:
1971 State Route 34
Wall Township, New Jersey 07719

Phone: 732-223-9000

Website: https://mullooly.net
Facebook: www.facebook.com/MulloolyAsset
Twitter: @mulloolyasset
LinkedIn: @mullooly-asset-management

Email: [email protected]

None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details.

This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.

We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Any Point & Figure charts used have been provided by our good friends at Dorsey Wright & Associates.