Getting Started

Learn the investment basics from starting investing, to saving for a home, or saving for retirement

Financial planning: knowing where to begin

Getting started in planning for your financial future can be overwhelming, and often, it can be hard to know where to begin. Whether you’re just starting to get more serious about financial planning or need some ways to enhance your current game plan, JNBA can be a critical partner in helping you set and meet concrete financial objectives.

Financial planning starts with budgeting and goal-setting. It’s important to consider all of the possible expenses you may encounter, and what short and long-term goals you’ll want to work towards. Lifestyle goals are a great place to start. Do you aspire to purchase a home, an automobile, or other large investment? Do you have plans to travel or provide for your children’s education or transportation? Additionally, you’ll want to be prepared for any unpredictable expenses that life will throw your way. Emergency funds, appropriate insurance plans and beneficiary designations are important safeguards for both you and your loved ones.

Even if retirement may seem like a lifetime away, the earlier individuals can start investing in retirement, the better, due to the time value of money. The potential sources of income that you can use during retirement include: social security, pension(s), 401(k) and other retirement plans, as well as personal savings. It’s best to invest as much as possible in both pre-tax and after-tax accounts, and take advantage of company matching contributions when available.

Investing money is a great option to create ancillary revenue for you or your family. When establishing investment accounts, it’s important to consider a variety of things including your risk tolerance, your timeline goals, various tax consequences and what an appropriately diverse portfolio looks like.

Even though getting started with financial planning can seem daunting, it’s never too early to start learning and making informed decisions for your future. Let JNBA help you by downloading our comprehensive checklist for financial planning.