The Art and Science of Successful Planning

PERSONAL LIFECYCLE

Personal
independence

Monitor progress
toward financial
independence

Analyze
estate plans
as children
leave home

Financial
independence

Reevaluate
estate plans
and adjust
as needed

Budget for
Retirement
lifestyle

Reassess
personal
priorities and
values

Re-evaluate and
Increase coverages

Maximize
life,disability
insurance
to protect
growing income, estate

Review
insurance
to meet
anticipated
needs

Adjust life
insurance to
cover estate
taxes, if
needed

Consider investments
that minimize
taxes

Make a will

Revise wills and
other legal papers

More concern
with “quality
of life”

Prepare for
retirement
expand leisure,
community
interests

Retirement

Optimize
experiences

Plans for
career,future
income

Select
relationships

Marriage

Establish
lifestyle

Become
Parent

Expand career
goals

Put down
roots

Manage stress of
time demands

Protect personal
and family
properly

Develop
budget

Set long-term
goals

Start financial
recordkeeping
system

Establish
Relationships
with financial
advisors

Handle
Increased
child-rearing
costs

Establish
emergency
fund

Insure income
with disability
and health
insurance

Protect
wage-earners
with life
insurance

Manage stress
of changing
relationships
and aging
process

Develop
Investment
philosophy

Plan for financing
children’s
education

Establish
retirement
goals

Life
Stages

Protection

Accumulation

Estate
Planning

Business
Stages

Employee
Benefits

Personal
Benefits

Business
Continuation

Plans for
career,future
income

Select
relationships

Marriage

Establish
lifestyle

Become
Parent

Expand career
goals

Put down
roots

Optimize
experiences

Personal
independence

Establish
retirement
goals

Reevaluate
estate plans
and adjust
as needed

Analyze
estate plans
as children
leave home

Handle
Increased
child-rearing
costs

Set long-term
goals

Monitor progress
toward financial
independence

Reassess
personal
priorities and
values

Review
insurance
to meet
anticipated
needs

More concern
with “quality
of life”

Prepare for
retirement
expand leisure,
community
interests

Manage stress
of changing
relationships
and aging
process

Retirement

Manage stress of
time demands

Start financial
recordkeeping
system

Financial
independence

Maximize
investments

Consider investments
that minimize
taxes

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