Norman Financial Advisor

A Norman financial advisor evaluates your financial goals along with your assets and liabilities before helping you design a plan to shape your future. The professional relationship you build with an Oklahoma advisor may support you through many of the major landmarks in your life, from entering parenthood to concluding your career and stepping forward into retirement. Working with an Oklahoma financial advisor helps you focus your objectives so that you can reach your goals more easily and enjoy a more fulfilling life in Norman, OK.

The Oklahoma town of Norman has been nominated as one of the best small cities in the United States. This community is home to the University of Oklahoma, a major academic institution, as well as a number of health care facilities, high-tech companies and the National Weather Center. You can build a solid, secure life for your family in Norman when you seek guidance from a Norman financial advisor who understands the local and national economies.

Planning for College in OK

Advanced education is a top priority among families in Norman. Many of us want to send our children to college so that they can pursue their career goals and fulfill their own dreams. However, setting aside money for emergencies and building a fund for retirement may consume most of your savings. In addition, the rising costs of university tuition can make educational savings seem like an impossible goal.

Consult a Norman financial advisor about educational savings plans, or ESPs, which allow you to set aside funds to cover the future costs of tuition. These state-sponsored programs are tax-deferred educational savings vehicles which guarantee that your funds will match tuition expenses when your child is ready to enroll in a state university. Private colleges and universities offer their own versions of the ESP, or 529 plan.

A Norman financial advisor can help you design a budget that incorporates your college savings goals into your other financial objectives. Investing in your children's future is an important responsibility of parenthood. As you contribute to your own 401k, IRA or Roth IRA, your advisor will show you how to participate in a 529 plan that will pay off in years to come.

Retirement and Estate Planning in Norman

The state we call "retirement" isn't as easy to define as it used to be. In the past, employees retired at the age of 65, wrapped up their careers and devoted the rest of their lives to leisure, family or hobbies. Today, residents of Norman retire at different ages, ranging from 45 to 95, depending on their financial goals and their personal dreams. Unfortunately, some older adults in OK can't afford to pursue the flexible, independent lifestyle they've dreamed of, and they continue working in order to cover their basic expenses.

Long before you think about retiring, get together with a Norman financial advisor to discuss your projected costs of living. You should count on having a longer lifespan than your grandparents did, along with higher costs of food, housing and medical care. Many younger adults are purchasing long-term care insurance to pay for costs of skilled nursing, home health care or rehabilitation services when they're senior citizens. A financial advising company that specializes in retirement planning can answer your questions about long-term care policies.

Along with preparing for retirement, you and your financial advisor should cover all the bases of estate planning. Estate management may sound like an activity that's reserved for the very wealthy, but in reality, any individual who owns assets has an estate. If you don't plan the way you want to have your property distributed after your death, the state and federal governments will distribute your assets for you. Your Norman financial advisor can assist you in arranging those distributions in advance.

To ensure that your house, land, savings and investment accounts are managed according to your wishes after your death, talk with your advisor about writing a will. Even if you're a healthy, active adult in your 30s or 40s, a Norman financial advisor will tell you that you need a will to ensure that your dependents receive the inheritance that they deserve. Ask your Norman financial advisor about creating a will and an advance directive, which will communicate your wishes about life support measures if you're incapacitated.

Life insurance is another important aspect of estate planning. This form of coverage not only pays benefits to your family in the event of your premature death, it may also serve as part of the legacy you leave to your children or other beneficiaries. The value of a life insurance policy can be rolled over into your estate to augment your survivors' inheritance. A Norman financial advisor can help you secure protection for your family's future both during and after your lifetime.

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