This article brought to you courtesy of Matt Stutes, CFP, of Cornerstone Wealth Management, Canby Herald Financial Planning Expert.

Matt Stutes, CFP

What Your Financial Plan Should Include

The key to creating a successful financial plan is ensuring it

covers your current and future financial needs. To determine

your particular needs, spend time with your financial advisor

considering your options, defining your goals, and evaluating

your resources. The following are some common areas to consider when planning financial future.

Cash Flow

Cash flow is a cornerstone in developing a comprehensive financial plan. Identifying what your spending habits are now

will help us identify what your cash flow needs in retirement

will be. Failing to have a clear picture of your bills and expenses

can dramatically reduce your ability to meet your financial



Fundamental to building a secure, manageable future is saving

for the unexpected as well as the expected. Saving is easier if you "pay yourself first" and build automatic savings into your budget.

Risk Management

Risk can take many forms: illness, accident, liability, and

natural disasters, to name a few. Failing to manage risk properly

can jeopardize your financial future. That's why smart financial

planning evaluates the various levels and types of insurance you carry to make sure they're aligned with your overall goals and needs. In many cases, insurance can also be used effectively as an alternative revenue stream and hedge against inflation and

riskier types of investments. Life insurance policies contain

exclusions, limitations, and reductions of benefits, and terms

for keeping them in force. Your financial advisor can provide you with costs and complete details.

Cornerstone Wealth Management

486 N.W. 2nd Avenue

Canby, OR 97013


Securities and advisory services offered through LPL

Financial, a registered investment advisor. Member


The opinions voiced in this material are for general

information only and are not intended to provide

specific advice or recommendations for any individual.

Rebalancing a portfolio may cause investors to incur

tax liabilities and/or transaction costs and does not

assure a profit or protect against a loss.