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Getting Started

Procrastination is easy.​ But don’t postpone beginning the financial planning process. Following are a few steps to get started.

Do your homework

Start by gathering the names of potential financial planners. Check with friends, family members or trusted business associates for referrals to financial professionals who have successfully helped them.

Gather Information

Once you identify a financial adviser, you need to organize your financial information, so the adviser can develop a clear understanding of your financial situation. This may include documentation, such as pay stubs and financial statements, including investments, 401(k)s and bank accounts; debt statements, such as mortgages, credit cards, car loans and personal loans; insurance policies, such as homeowners, automobile, life, health and disability, and; estate documents, such as wills and trusts. Remember your employer benefits package details, too.

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Schedule a meeting with your financial planner to discuss your financial goals and the practical challenges you face in achieving them. Think about your ideal retirement, home ownership, family commitments and your vision of financial security. Your adviser will develop a strategic financial plan to accomplish your goals.

Take action and monitor results

This step is straightforward, but for some, it’s the most challenging, as you must follow through on the advice to see results. This involves trusting the process and the financial strategy you’ve agreed upon and then periodically monitoring your progress with your financial advisor.

Notices & Disclosures

Article is adapted from content provided by DTS.

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