Philosophy and Values - Financial Planning

At Table Rock we believe that financial planning is much broader that just managing investment portfolios. Before focusing on investments, it is critical to understand the values, goals, objectives, and current financial situation of each client. “Planning to prosper” means taking a broader view and evaluating many aspects of your financial life.

At Table Rock Financial Planning we believe in:

Aligning finances with your values, priorities, and goals

• Decide what is important—and what isn’t: There is no substitute for reflection and discussion of priorities and goals, and financial planning is a great way to make this happen.
• Create a current spending and savings plan: You need to spend less than you earn—there’s no getting around it. Everyone needs to balance current consumption with savings and investments for the future. There are different ways to achieve this balance, but discipline is critical for long term success.
• Long term planning: There are two things of which you can be sure with long term planning. First, circumstances will undoubtedly change and you will need some flexibility. Second, if you haven’t done any planning, your options will likely be limited. As Yogi Berra said, “If you don't know where you are going, you will wind up somewhere else.”

Proactively managing your risks and creating “margin” in your life

• Maintaining sufficient liquidity: This means creating an adequate emergency fund and making saving for planned expenses a top priority.
• Debt management: You need to control your debt, or it will control you. Too much debt exposes your family to insecurity and reduces your flexibility.
• Smart insurance: Manage your risk exposure by having the right kind and right amount of insurance. At Table Rock we don’t sell insurance, so we can be an objective source of advice.

Helping you make the most from your resources and opportunities

• Keeping investment costs low: Unnecessary costs are a big drag on your investments, and many people are unaware of what they are paying to whom. Avoiding high commissions and sales costs is important, as is keeping an eye on the management expenses you pay each year for your mutual funds and investment management.
• Tax management: We believe in integrity and paying taxes—just not any more or sooner than required. Often there are simple things that will make a significant difference in your after-tax outcome.
• Avoiding the “stupid tax”: That’s what Dave Ramsey calls the cost of our big financial mistakes. Being patient and obtaining wise counsel before big decisions pays off in the long run. Sometimes your best investment is the time and cost of sound advice.

Recognizing life is more than your investments

• Reducing your stress: A little organization and planning can go a long way in reducing fear and anxiety. Get a financial plan and investment strategy that allows you to sleep at night.
• Keeping things simple: The role of a trusted advisor should be to educate and to bring clarity to your financial situation—not make things more complicated or difficult.
• Leaving a legacy: Planning isn’t just about securing the lifestyle you want in retirement. For many, it is living out your values today and in the future. Whether your goal is an inheritance for family or substantial gifts to organizations you believe in, purposeful financial planning can help you make a difference in other people’s lives.

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