Creating a Financial P.L.A.N.

The road to financial freedom can often be more easily obtained by those who follow a plan created to help them reach their specific investment goals. Let our SPF* Financial Representatives, Michael A. Pugliese and Megan Ruo, help you take the first steps toward building a confident financial future by designing a P.L.A.N. 

How to Create a Financial P.L.A.N.

Pay yourself first
Promise yourself to take advantage of your employer's retirement plan, whether it's a 401(k), a 403(b), or any other kind of contributory plan. Consider Dollar Cost Averaging†, instead of investing assets in a lump sum. Frequently investing smaller amounts is more practical for many and can help to lower the average cost per share.

Live within your means
Promise to pay off your credit cards. Credit card debt is the number one reason most people can't get ahead. Paying the minimum balance due on a $10,000 credit card balance with an 11% interest rate could take 20 years to pay off. It's often more rewarding to save for something vs. putting it on a card and getting stuck with payments. If you can't afford it, think twice about buying it. Financial fitness is a commitment, a lifestyle, similar to going to the gym and eating right.

Assure your families stability
Write or update your will. Wills are not just for the rich. Regardless of how much or how little money you have, a will may ensure that whatever personal belongings and assets you have will go to beneficiaries you designate. If you have children, a will allows you to appoint a guardian for them in the event of your death. Life events such as buying a home or having a child could change the amount of coverage a family needs. Work with a financial professional to assess the amount of coverage you and your family may need.

Never stop learning
Write down your financial goals, this is your road map to financial freedom. Working with a Financial Representative can keep you up-to-date with new investment opportunities available to you and your family.  Regular reviews can help keep your investment choices on pace with your needs based on risk tolerance and time horizon.
To learn more about creating a financial P.L.A.N., contact Michael or Megan using the information below. Otherwise, stop by your local branch to schedule a free, no-obligation appointment.

Main Office, Dedham Square, or East Dedham branch customers, contact Michael Pugliese.
Telephone: 781-320-4805  
Norwood, Walpole, Westwood, Needham or Sharon branch customers, contact Megan Ruo.
Telephone: 781-320-4867

† Dollar cost averaging, A systematic investment plan does not assure a profit and does not protect against loss in declining markets. Such a plan involves continuous investment, so investor should consider financial ability to continue purchases through periods of low price levels.

*Non-deposit investment products and services are offered through Sorrento Pacific Financial, LLC (“SPF”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Consultant. Products offered through SPF: are not FDIC or otherwise federally insured, are not a deposit or guarantee of the bank, and may involve investment risk including possible loss of principal. Investment Representatives are registered through SPF. The Bank has contracted with SPF to make non-deposit investment products and services available to bank customers.