Kelly Ruggles - Steps to Develop a Financial Plan

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Kelly Ruggles

• Kelly Ruggles - Steps to Develop a Financial Plan

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Kelly Ruggles

• Kelly Ruggles is the President and Founder of
  American Reliance group, a financial planning and
  management firm. Kelly has been an Investment
  Advisor for over 15 years, giving advice to
  hundreds in the Spokane area. Kelly believes it
  is important for every individual to have a
  written financial plan and gives steps to develop
  one below.

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Kelly Ruggles

• Step 1 Evaluate your current financial situation

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Kelly Ruggles

• Listing your current financial information
  (assets and income) is the first step to
  developing your financial plan. Assets include
  your home, other real estate, automobiles,
  stocks, mutual funds, bonds, income, savings,
  certificates of deposits, jewelry, art work, etc.
  In addition to listing your assets, determine
  your liabilities such as credit cards, mortgage,
  payments, and debts of any kind. This step helps
  give you a basic idea of your financial
  situation.

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Kelly Ruggles

• Step 2 Decide on your goals

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Kelly Ruggles

• For example- Do you want to retire as early as
  possible? If you are retired, do you want to
  generate more income? Do you want your children
  and grandchildren to have any property when you
  pass away? It can be any goal you want to
  achieve. When deciding on your goals, make sure
  to write them down! Writing your goals down and
  having them as detailed and thought out as
  possible can help increase the chance of
  individuals reaching those goals.

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Kelly Ruggles

• Step 3 Make a strategy on how to achieve those
  goals

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Kelly Ruggles

• An individuals financial strategy will depend on
  your goals. Make a sound financial plan based on
  your goals and stick to it! Kelly suggests not
  changing financial goals and plans too
  frequently. He says Changing your financial
  goals and plans often because of external input
  such as ads and tips for new financial services,
  stocks, and annuities, will most likely be
  harmful rather than helpful in the long run.

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Kelly Ruggles

• To learn more about Kelly Ruggles please visit
  www.kellycruggles.com
• THANKS