By: Dawn D. Moore and Charlie E. Plunkett
As we all know, life changes when we least expect it. Having a financial plan is one of the best ways to prepare for unanticipated seasons.
At First Farmers, we are here to help you prepare for anything life may bring by providing wealth management tools and support as you build your financial plan. As we acknowledge National Preparedness Month, we are sharing some of First Farmers’ resources so that you can financially prepare for the future.
MoneyGuidePro
MoneyGuidePro is one of our favorite resources we offer to support customers as you begin developing a financial plan. This platform serves as a roadmap, providing you with a cohesive snapshot of your entire financial situation and everyday expenses to help you plan for retirement. You can conveniently access the platform online, making it simple to adjust your financial plan.
The platform’s benefits extend beyond retirement planning, as MoneyGuidePro’s convenient budgeting tools enable customers to save for other major life events or unexpected costs, such as weddings, home renovation, college savings, and more.
The platform has a goal-setting feature to help you save and reach your unique financial milestones. Customers can also run “what if” scenarios to see how potential changes might affect your overall financial situation.
Wealth Access
This fall, we are rolling out our new Wealth Access platform to provide customers with an innovative way to manage and review finances. This platform will give you an aggregate view of your financial picture and allow you to view all your accounts in one place, including those outside First Farmers. Additionally, Wealth Access enables customers to list assets, keep up with balance sheets, and view past transactions.
Another great benefit is the ability to upload important financial documents to a secure storage vault. Through the storage vault, the platform will provide a convenient and safe way to store files and share them via DocuSign. Wealth Access will make it easy for customers to manage finances anywhere through its convenient online platform and mobile app.
Dedicated and Ongoing Support
As you begin building your financial plan, the First Farmers team is here every step of the way to provide dependable support. While developing a financial plan can feel overwhelming, it is important to recognize that your first draft does not need to be perfect. We encourage you to view your financial plan as a living, breathing document. Your finances will shift as life changes, so it is essential to revisit this document and keep your short and long-term goals in mind.
We recommend revisiting your financial plan once a year to see if anything needs to be adjusted. If a significant life event occurs, such as divorce or a job change, review your document to make any changes required. You should also consider reviewing your estate plan annually to make necessary adjustments and ensure you have a will and power of attorney. If you need additional assistance throughout this process, our team is happy to help you review and adjust your plan as needed.
When you begin working with our team to build your plan, we will provide various resources for you to get started, including a worksheet to help you map out your assets and liability. From there, we will work with you to build your plan in MoneyGuidePro, fine-tune it with small adjustments, and show how you can conveniently make changes online.
Get started today by utilizing our Personal Document Locator, which allows you to compile a list of your important financial documents in one place. If you are interested in learning more, visit our website to access our wealth management resources. References to resources or organizations listed in this communication do not constitute or imply endorsement or support by First Farmers & Merchants Bank.
