Financial planning today is different than it was in 1969. Learn which trends have transformed this field and how we can help you adapt to these changes.

Financial Planning Today

In our last blog post, we covered the background of financial planning. Of course, many of the fundamental tenets of financial planning have remained the same since its creation and codification in 1969. However, the economic landscape has also changed dramatically in the past four and a half decades. Over the past 16 years, Lowery Thomas, LLC’s team of financial planners and investment advisors have evolved with the times, devising effective, enduring economic solutions for our clientele. If you partner with us, we’ll work closely with you to design a customized financial planning program that suits your distinctive needs and exceeds your expectations. We can help you adapt to and thrive within a changing market so you can enjoy a successful, secure future. Read on to learn more about the unique dynamics of financial planning today.

Post-Recession Planning

Undoubtedly, one of the most major financial shifts in the past decade has been the general decline of the American and global economy. Also called the Great Recession, this downturn began with the collapse of the American housing and mortgage market. In many ways, the United States is still recovering from fiscal fiasco, which has changed the way people approach financial planning. In an uncertain and sometimes challenging economy, clients generally take a much more conservative approach to planning for their retirement, setting aside money for educational expenses, protecting their assets, investing in stocks, and more.

Many Americans made financial planning a much higher priority after the recession since they realized the importance of safeguarding their resources and being ready for unforeseen expenses. In an article on “Saving Money in Today’s Economy,” the Financial Planning Association® notes: “If you’re like most Americans, you’re most likely searching for ways to save money now more than ever.” Rather than just siphoning more cash into your savings, the FPA® emphasizes economizing in the post-recession era: “Financial planning…isn’t just about increasing the amount of money that you contribute to your retirement or college savings plans. It’s also about scouring the expense side of your budget, searching for ways to save a buck or two, or perhaps even more.”

Lowery Thomas, LLC’s financial planners can help you preserve your prosperity in the seemingly unpredictable post-recession period. We can help you trim the fat from your monthly expenses and look for ways to enhance your strengths by performing a detailed analysis of your finances. From this point forward, we can help you better manage your money and make savvy, yet safe investments so you feel confident in and comfortable with your finances.

Twenty-First Century Technology

We truly are living in a digital age—modern technology has transformed the way we do just about everything, including financial planning. In many ways, innovative software and the Internet have made managing money easier and more effective than ever. We can use sophisticated spreadsheets to examine your finances and make projections. At Lowery Thomas, LLC, we also suggest that our clients use helpful apps like HelloWallet, which can track your purchases, help you save money for specific goals, and provide personalized advice.

However, the digital age also brings with it certain risks. Mobile banking and online purchasing can make you more susceptible to identity fraud, which could have a major impact on your finances. We can help you protect yourself against these risks by carefully monitoring your finances and using insurance programs like Identity Fraud, Inc.

For better or for worse, it seems clear that technology will continue to progress in the coming years. You can count on the Lowery Thomas, LLC team to stay at the cutting edge of financial planning and help you adjust the latest advancements.

Girl Power

The demographics of the 2015 workforce are very different than those of 1969. With more and more women working, many financial planners have placed more focus on female financial issues. In her Forbes article “Women Face Higher Stakes in Financial Planning. Here’s What You Can Do,” Certified Financial Planner® Eve Kaplan points out that single women’s “financial needs are greater than the average couple or single man” because they “will live longer than the average man but [they] typically have less money to do so.” Fortunately, she notes, women “are more receptive to professional advice than men,” making them ideal candidates for financial planning. At Lowery Thomas, LLC, we love helping women build outstanding programs and maximize their resources.

Get Financial Planning Help Today

Now is the time to start preparing for your future. Our financial planners can help you navigate the modern world of financial planning. Contact us today to find out more.