INDUSTRY INSIGHT
FINANCE
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Isn ’ t it time for a Financial Plan ?
I am often surprised by the number of people I talk to that do not have a written financial plan . We began adding financial plans to our services a couple years ago and have found the clients that work with us to create one seem to have a better understanding of their goals and financial vision than those that do not .
Some people I talk to are hesitate to do a plan . I think part of that hesitate is because they don ’ t understand its value . I believe written financial plans are important because they can help promote better investor behavior and expectations . How can they do that ? When you create a financial plan with your Advisor , a conversation takes place .
When that happens , you ’ ll talk about your hopes and aspirations and begin to form a vision of where you realistically want to be at different mileposts over the years . You ’ ll discuss your investment goals , whether these include a first home , a vacation home , college and , of course , retirement . You also determine where these goals fall along your own investment timeline .
You ’ ll also talk about different market scenarios and how you may react to the ups and downs that will inevitability occur over the years . Specifically , how do you think you ’ d feel if that markets falls 10 %, 20 % or even more ? What if one of those-or all of those- events occurred over the course of a year or two ? Would you be able to stay the course ? Or would you want to flee the market altogether ? Perhaps , you may even want to invest more .
Your advisor needs to understand how comfortable you ’ ll be with the kind of risks you may need to take to reach your investment goals . Equally important , you will need to understand that , too . While it is
one thing to talk about these possibilities , it ’ s quite another to live through them . So these are the kinds of conversations you should have with your advisor .
Ultimately , the idea is to have the emotional strength to weather a market downturn . A financial plan can help you remain grounded and rational during times of market stress . We all know that markets can move up and down-seemingly without reason at times- and a financial plan can help us look beyond any short term turbulence and remain focused on our long term goals and vision . I ’ m not saying these situations are easy , but having a financial plan in-hand can help .
Providing clarity and creative solutions for
• Money management
• Life insurance
• Retirement planning
• Mutual funds
• 401 ( k ) rollovers
• College savings
• IRAs
• Annuities
This Industry Insight was written by Christopher J . Marsico , MBA .
Chris has been serving the financial needs of clients since 2004 . His experience ranges from mutual fund investments to life insurance products and annuities . Over the past eight years he has helped clients plan for all aspects of their lives , including saving for retirement , paying for a child ’ s college education , and leaving legacies for their estates . His dedication to his clients allowed him to be featured in the Life Insurance Selling article “ New Faces Going Places .”
Chris was born and raised in the Pittsburgh area . After he graduated from Shady Side Academy in Pittsburgh , he earned his undergraduate degree in economics from Indiana University in Bloomington , Indiana . He received his Master of Business Administration degree from the University of Pittsburgh , Katz School of Business , with a concentration in finance . He also holds a graduate certificate from University of Pennsylvania , the Wharton School of Business , in retirement planning .
In addition to serving his clients , Chris has always had a strong sense of giving back to his community . Upon graduation from Indiana University , he was commissioned as an Army officer and was stationed at Fort Riley , Kansas . He was later deployed to Iraq from 2003 to 2004 as part of Operation Iraqi Freedom . He now volunteers his time at his church and his children ’ s school . He lives in the Mars area with his wife , Kristine , and their three children .
Give our knowledgeable team a call at 724-898-3555 or email cmarsico @ cambridgeresource . com to schedule a complimentary consultation .
Visit us online at www . marsicowealth . com .
1018 Pittsburgh Road Valencia , Pennsylvania 16059
Registered Representative , Securities offered through Cambridge Investment Research , Inc ., a broker / dealer , member FINRA / SIPC . Investment Advisor Representative , Cambridge Investment Research Advisors , Inc ., a Registered Investment Advisor . Cambridge and Marsico Wealth Management are not affiliated . V . CIR . 0415
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