Make your winning financial game plan

Make your winning financial game plan (Image 1)

Now is a good time to perfect your financial game plan.

Just like any game plan, it's important to execute both offensive and defensive strategies.

a personal financial plan, the term “defense” refers to vehicles that
help manage risk and provide a back-up plan to protect against life
events that can impact long-term security.

“Offense” refers to
various strategies used to accumulate wealth over a lifetime to
ultimately meet financial goals.  Having both strategies in place not
only helps move an individual forward on the path to financial security,
it also helps instill the confidence needed to take advantage of
opportunities that may arise along the way.   

Defensive Strategies may include:

  • Emergency Fund – Covers at least six months of living expenses in an easily accessible cash fund.
  • Permanent Life Insurance – Provides a benefit to beneficiaries after passing, plus it builds cash value over the long term.


Offensive Strategies may include:

  • 401(k) Plans
    – Employer-sponsored qualified retirement plans – with or without
    employer matching contributions – that allow eligible employees to save
    for retirement with payroll deductions into tax-advantaged plans.
  • Equities
    -These include individual stocks, mutual funds and exchange-traded
    funds (ETFs). These assets might include large cap, mid cap or small cap
    funds, international funds, real estate or commodities funds. Equity
    securities are allocated to portfolios based on a long-term investment
    strategy reflecting risk tolerance, time horizon and goals.
  • Annuities
    – Fixed or variable-rate contracts that provide a deferred or immediate
    payment at regular intervals for a predetermined period or for life.

no two financial plans are the same, so it is important to work with a
good “coach” to ensure you are on pace to meet your goals. To learn more
about financial plans, click here.

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