January 19, 2019
5 Critical Aspects of Financial Wellness
James A. Lindner, CFP®, ChFC®, CLU®

For many years providing financial advice, I continue to see the same problems come up over, and over.  If there is a gift I could provide anyone, it would be to help them avoid the same mistakes others have made and to learn about what I call the 5 most critical aspects of your Financial Wellness. 

  1. Create a sound budget
  2. Create and review your projection for retirement
  3. Ability to expect and manage critical life events
  4. Understand your employer and government benefits, tools and programs available to you
  5. Understand and establish proper estate planning documents

Our review of the 5 critical aspects of Financial Wellness starts with the most basic issue: creating a sound budget.  It always amazes me how much time my clients spend on portfolio management issues but completely ignore maintaining a transparent and clear family budget.  Creating a sound budgeting plan does not need to be complicated but, if done right, will help you develop an emergency fund, get out of debt and ultimately save more money for retirement allowing you to live the life you want to live. 

The second important aspect is to make sure you create and regularly review your projections for retirement.  These projections are the closest thing to having a crystal ball to see what kind of retirement you might have vs what you need to do to reach the retirement lifestyle you want.  Those who visualize and plan accordingly are more likely to see it become a reality. The third and fourth aspects have some overlap but are each important.  Third, a family’s ability to expect and manage critical life events like the death of a spouse, illness or job loss will give you the best chance to navigate those situations and weather the storm without losing everything along the way.  In addition to planning for life events, number four, it is also important to understand your employer and government benefits, tools and programs available to you and your family.  Many people miss some benefits just because they do not stay aware.

Last but not least in our review of 5 critical aspects of financial wellness is the importance of understanding and establishing proper estate planning documents like wills, trusts, living wills and powers of attorney. Each family will experience something in their lives where these documents will play a part and the cost or impact associated with those experiences could be detrimental to reaching you or your family’s goals.  Everyone should have a will and for those of you with special situations like 2nd marriages or multiple children, you should do everything you can to plan ahead.

Ultimately, it is my goal to make sure everyone has access to sound advice and the education process to make great decisions.  Having a sound plan that focuses on these areas will help keep your financial situation safe.  Feel free to contact me directly at 614-799-8668 if you have any questions about your financial planning needs.

If you’d like to learn more about how you can get started with your 5 Critical Aspects, join us January 10 for a webinar on this topic, register by clicking this link.

James A. Lindner,   CFP®, ChFC®, CLU®

Retirement Strategies, Ltd.  President and CEO

COPEC President

5060 Parkcenter Ave. Suite A   Dublin,  OH  43017

Phone:   614-799-8668  Ext. 202

Website: www.retirement-strategies.com

E-mail: jlindner@retirement-strategies.com


Retirement Strategies Ltd. is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Retirement Strategies Ltd. and its representatives are properly licensed or exempt from licensure.  This presentation or resource is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Retirement Strategies Ltd. unless a client service agreement is in place.