For more information and/or to ask specific financial questions contact:
| George Dan Financial Advisor 1-312-800-1822 george.dan@thrivent.com | Carrie Rennemann Financial Advisor 1-312-371-1353 carrie.rennemann@thrivent.com |
No time like the present to start your financial strategy
The idea of creating a financial strategy can seem daunting. After all, we don’t know with exact certainty where we’ll be or what we’ll be doing in 5, 10 or 15 years – so how can we possibly know our financial situation? Why bother coming up with a plan if it’s only going to change?
Yet herein lies the value of a financial strategy. It serves as a framework to achieve financial clarity to help you evaluate your choices and guide you forward during each chapter of your life. A financial strategy can prepare you for the ups and downs that come your way, helping to ensure you’re prepared to live a life of purpose and weather unexpected storms.
To get started, build small and work your way up. Then, consider partnering with a financial professional who can help you put your plans into action.
Below are few suggestions from Thrivent to keep in mind as you work on your strategy:
- Understand your current financial picture: Evaluate your finances so you have a clear idea of where you currently stand. This provides you with a starting point to chart out your future goals and aspirations.
- Think about your goals and values: Now is a great time to think critically about your short- and long-term goals, as well as how your beliefs and values guide your financial choices. You’re more likely to take action on your plan and work toward your goals if you can tie it back to your “why.”
- Incorporate lessons learned: Is there something from your financial past that you don’t want to repeat? Review your financial history, take stock of any missteps and then work with a financial professional to get guidance on how to protect yourself against risks.
- Don’t wait: You can always find reasons to delay something, especially when the task seems overwhelming. But now is a great time to develop your financial strategy. Don’t wait until the next stock market downturn or unexpected crisis to propel you action – that’s when you’ll need a strategy the most!
As you develop your financial strategy, it also may be worthwhile to spend time creating or updating your will, durable power of attorney, advanced medical directive and your estate plan. Your financial professional can help you identify where you may need to make updates.
Though it requires a commitment upfront, having a financial strategy is well worth the effort. In the long-term, you may be pleasantly surprised to find that your plan gives you the financial clarity you’ve been seeking and helps you lead a life of meaning and gratitude.
This article was prepared by Thrivent for use by local financial professionals Carrie Rennemann at 190 S. Lasalle, Ste 1610, Chicago, IL 60603, 312-371-1353, George Dan 190 S. Lasalle, Ste 1610, Chicago, IL 60603, 312-714-9845.
About Thrivent
Thrivent is a Fortune 500 financial services company that helps build, grow and protect financial well-being through purpose-driven advice, investments, insurance, banking and generosity programs. Thrivent serves more than 2.4 million clients through thousands of financial advisors across the country and has more than $194 billion in assets under management/advisement (as of 12/31/24). Thrivent carries strong financial ratings from independent rating agencies - including AM Best, Moody's and S&P Global Ratings - which demonstrate the company’s financial strength, stability and ability to pay claims. Ratings don't apply to investment product performance and more information can be found on each rating agency's website. For more information about Thrivent, visit Thrivent.com or find us on Facebook, Instagram and LinkedIn.
