fee-only financial planner Denver

Have You Already Broken Your New Year’s Resolution?

Every New Year’s, millions of people prepare resolutions in the hopes of making their lives a little better. However, when it comes to financial resolutions, most are abandoned by February due to a lack of planning or follow-through.

Setting high goals at the beginning of the year, like “save more money” or “pay off debt,” is a great starting point toward financial stability and growth. These require, however, a well-defined roadmap to success — a guide that provides steps and directions through which these goals can be converted into reality. This is the point where your financial goals call for an effective financial plan. Professional management is crucial in mapping a way to accomplish financial goals. Breakwater Capital Group offers experienced guidance in this process.

Why Financial Resolutions Fail

The most common reason financial New Year’s resolutions fail is the absence of a structured approach tailored to economic goals. Many folks go for financial goals that are too ambitious or too sweeping, such as “save half of your income” or “eliminate all debt in one year.” Without a specific target or an actionable plan, one too easily loses focus. For example, to save more money, you need to specify how much money to save and how often to do it to avoid frustration.

Another challenge is the lack of a support system. Like personal goals, accountability goes a long way in financial goals, too. It’s challenging to maintain new habits. For example, setting out to save half of your income when money is already tight is extremely difficult.

We tend to underestimate how much time it takes to achieve certain milestones and the discipline involved in getting there. True change happens slowly, and unless you break the goal down into manageable, actionable steps, the process becomes too overwhelming. This is why having a well-thought-out plan of action is so crucial.

We Offer Financial Planning in Massachusetts and Denver 

Financial planning gives you a roadmap and the motivation to make all your resolutions come to life. Consider working with a professional to set SMART goals: Specific, Measurable, Achievable, Relevant, and Time-Bound. For example, instead of saying, “Save more money,” you may want to say, “Save $5,000 in an emergency fund by December.”

We build an individualized roadmap to help you navigate possible financial pitfalls, such as sudden expenses or dips in income, by considering your situation and guiding you to your destination. Our role continues beyond that as we guide you every step of the way, helping you stay on track as your financial situation changes.

We accomplish this by showing you a series of reasonable steps that reduce uncertainty and provide a clear sense of direction. Whether it is retirement, investing, or MA wealth management, having a roadmap prepares you for what to expect on the journey ahead.

Actions to Take

To achieve your financial goals, start by assessing your current financial standing. This includes evaluating your income, expenses, debts, and savings. By understanding your financial reality, you can determine what is feasible and identify areas for improvement.

The next step is to develop a comprehensive financial plan. Identify your short-term, midterm, and long-term goals: Are you trying to buy a home, save for college, or retire comfortably? Align your risk tolerance with the right mix of investments, and a well-crafted budget will show where your money goes and how it might be better allocated. Finally, insurance protects your progress from acts of chance.

For many, seeking professional advice is the wisest course. Complex situations, such as navigating tax strategies or planning key life events, often require an experienced advisor. Breakwater Capital Group, a leading Denver financial advisor, specializes in providing advice that aligns with your goals and circumstances.

Breakwater Capital Group Wants to Help

At Breakwater Capital Group, we help you gain clarity and confidence in your finances. Our fee-only Denver and MA wealth management takes a holistic approach to understanding what drives our clients. We develop appropriate solutions aimed at working toward success. From establishing attainable financial goals and investment management to planning for your retirement, we’ll guide you every step of the way.

We design our comprehensive services, including goal setting, retirement planning, tax strategies, and wealth management in Denver and MA, to empower you to achieve your financial goals with confidence. Schedule a complimentary consultation with us to discuss your ideas and how we can bring them to life. We know no two financial paths are alike. 

We use our long-standing experience to offer valuable insights regarding retirement planning in Denver and Massachusetts. From addressing intricate investment strategies to refining your retirement plans, we are committed to finding solutions that meet your financial goals.

Act Now!

Financial resolutions can lead to lasting success, unlike many other New Year’s resolutions. With a clear plan and proper guidance, you can achieve much. At Breakwater Capital Group, we believe in empowering you to take an active role in your financial future. Let this year be the year in which your financial resolutions produce meaningful results. Contact us today!

Choosing the right advisor

The views expressed represent the opinions of Breakwater Capital Group as of the date noted and are subject to change. These views are not intended as a forecast, a guarantee of future results, investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial or legal advice or service to any person. The information contained has been compiled from sources deemed reliable, yet accuracy is not guaranteed.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, www.adviserinfo.sec.gov. Past performance is not a guarantee of future results.

Breakwater Team

At Breakwater Capital, we work with families across the United States, providing each client with a personalized experience tailored to their current circumstances, future goals, and timelines.