Iowa Fiduciary

National Financial Planning Month with Johnson Wealth and Income Management

October is National Financial Planning Month and what better way to get started than with Johnson Wealth and Income Management.

With the holidays right around the corner, National Financial Planning Month is a great time to plan ahead and take advantage of your financial health.

If your retirement is just years away, now is the time to take care of your retirement needs. Most importantly, it’s time to meet with your trusted Fiduciary advisor to discuss your personal retirement savings goals, and help you make the right decisions so you can enjoy your golden years. Here’s what you need to know.

Financial Planning for the Long Haul

A financial plan is merely a road map for how to manage your money so you can achieve your goals along the way. Planning for the future can help you save and invest so you can grow your retirement savings. It’s never too early or too late to start planning for the future. Creating a plan starts by getting advice from an experienced financial professional

You can begin by listing your short term goals such as paying down any outstanding debt and spending less during the extravagant holiday season. From there you can work your way up to your long term financial goals, like retiring by 60, or paying off your child’s college education. Painting a picture of your financial future helps not only you, but your financial advisor. Once we are able to see what you are envisioning for your future, we can help guide you through investment and saving techniques.

Knowing How Much To Save

When it comes to saving for retirement, the first step is knowing how much you need. It can be a little overwhelming, but with guidance from Johnson Wealth and Income Management,  you can start to get an idea of what’s realistic for your situation.

The sooner you start saving and investing, the more potential your money has to grow over time. Now that you’ve set some goals for yourself, make them happen by keeping track of your monthly spending and finding ways you can help save and budget. Our free online calculators are a good place to start. While not perfect in predictions, financial calculators help paint a picture of your overall financial health and help structure steps to take. Before making any adjustments to your retirement plan, always consult with your retirement income advisor at Johnson Wealth and Income Management first. 

Review Your Retirement Plan

Establishing your financial plan is an important first step towards helping ensure a happy and secure retirement. Once you have done that, it’s important to review it regularly and make any necessary adjustments. Knowing what your retirement eligibility is will play a key role in keeping you on track. In Iowa, you are not eligible for retirement until you are at least 55 years of age. A good rule of thumb is to assess your financial plan a few times a year and after any major lifestyle changes, such as moving, getting a new job, getting married, or getting divorced.

At Johnson Wealth and Income Management, we believe that every client’s situation is unique—and our approach is too! We don’t just offer one-size-fits-all solutions that are designed to suit everyone equally. Instead, we take the time to get to know each individual client so we can craft a plan that fits their specific needs. Begin your complimentary retirement review online here

Having an Emergency Plan in Place

Planning for the unplanned is never a bad idea. By taking extra time to ensure that you have an emergency fund, having the right insurance, and having a will in place in case of a death will help protect your loved ones against the unknown.

  • Emergency Fund: Having money set aside to cover unexpected costs is an essential part of financial planning. If you don’t have an emergency fund, then you are more likely to be forced into debt during an emergency situation – and less likely to be able to get out of it quickly. Having a small amount of money saved up allows you to help avoid taking on unnecessary debt in an emergency situation, which can help save you money in interest payments and reduce the amount of stress associated with unexpected expenses.
  • Insurance: Insurance can provide much-needed protection from many different types of potential risks, including illness or injury, home damage due to natural disasters such as fires, and even death itself. By purchasing health insurance coverage and keeping it up-to-date throughout adulthood, you can help protect yourself against medical emergencies that could cost thousands of dollars (or more!) if left untreated. Similarly, homeowners’ insurance can help protect your home (and any belongings inside it).
  • Estate Plan: Effective estate planning can help you to manage your affairs during your lifetime and help control the distribution of your wealth after death. Having a plan in place will keep your family free of headaches once you’re done. In Iowa, property is transferred in four ways, 1. Through joint ownership, 2. Trust, 3. Beneficiary, 4. Under Iowa’s probate law which, is dying or without a will.

By its very definition, “unknowns” can’t be meticulously planned for. But if you give yourself enough of a margin for the uncontrollable, with other adjustments, you can work to help control the impact the economy has on your retirement plans.

Final Thoughts

As Iowans, we have long prided ourselves in working hard and enjoying a lifestyle of moderate measures. Johnson Wealth and Income Management could not be more proud to be a part of this flourishing community. 

As Fiduciary advisors, our financial services help to contribute to the overall health of this state by helping our clients achieve their goals and live the life they want. Our commitment is to help you work towards achieving all your financial goals with peace of mind. We believe that everyone should be able to retire with confidence, knowing that they will have enough money for their needs. That is why we offer a wide range of services from tax planning to investment strategies, so that you can work towards your goals with confidence knowing that your finances are in good hands.

If you’re looking to begin your financial planning adventure, contact us today.


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