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Personal Financial Plans

Tuesday, 11 June 2013

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In a recent study by deVere Group, one of the world's largest independent financial consultancy groups, they asked clients with investable assets over $1,000,000 what was their number one financial regret. The top 3 answers:

Not putting in place a regular reviewed personal financial plan earlier in life. (57%)
Not consistently scrutinizing personal investments (18%)
Taking on too much unnecessary debt. (13%)

While this survey only surveyed high-net worth families, I think middle-class families would answer the question with similar results. It is clear the benefits of long-term financial planning and routinely reviewing or revising the plans help keep families on-track to reach their financial goals.

It is interesting to note that all those surveyed have done well financially, but the regret is that it might have been less stressful if they had a plan in place and were monitoring it consistently.

About the author

Carol Somoano, MBA, CFP®

Carol Somoano, MBA, CFP^®Financial Advisor

Carol Somoano, Vice President of Asset Planning Inc., is a Certified Financial Planner, CFP^®, and is responsible for portfolio and financial plan analysis. Before Carol joined API, Inc in 2005 she worked as a management accountant for 15 years before deciding to concentrate on financial planning. Carol obtained her B.S. in accounting from Cal Poly Pomona and her MBA from Cal State Fullerton. She completed the UCI Financial Planning program and passed the CFP exam in March of 2004. She is also a Notary Public and Realtor^®.

She is an active member of the Orange County Financial Planning Association and has participated in the OC Register Annual Financial Planning Hotline. She is an active volunteer in her community and has received an Honorary and Continuing Service Award from the California State Legislature in 2003 and 2007.

Carol’s core values are client-focused, emphasizing long-term relationships built on confidence and trust. She works diligently to increase her client’s net worth, plan for their future, and ultimately enhance their lives today.

Carol's hourly financial planning rate is $250. Carol's portfolio management fee is a maximum of 1% and is discounted for portfolios over $250,000.

PH: 714-827-5794 | Email Carol

Asset Planning, Inc Blog

Personal Financial Plans

About the author

Carol Somoano, MBA, CFP®

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