financial
Financial Fitness for $ophisticated Women WRITTEN BY AMANDA G. VILLEMARETTE, MS
WHEN WE THINK
of spring, we think of
outdoor gatherings, blooming gardens, summer travel, festival season and fruity cocktails. While we’re expected to “spring clean” our homes, weed our gardens, scour the internet for amazing vacation spots and get in shape to trade oversized sweaters for swimsuits, shouldn’t we also put some effort into getting financially fit? Becoming financially fit can be accomplished with just a little time and minimal effort; no burpees needed. According to the College for Financial Planning, the first two steps of the Financial Planning Process are to (1) Establish Financial Goals and Objectives, and (2) Gather Data. Whether the goal is saving for travel, purchasing a new home, or putting away for retirement, a trusted source for financial advice who can act as an accountability partner is essential. You wouldn’t go from the sofa to a marathon on your own or in one day; nor should you go it alone on your financial security. You may be familiar with the term financial advisor, financial planner, or even asset manager. What I would like to suggest, is that you become familiar with the term fiduciary. A fiduciary will not only assist you to plan the route for your race, but will also run the race with you. It is a legal relationship of trust; a fiduciary is required to act in your best interest — no ifs, ands or buts about it! This spring, let’s put some effort into our financial fitness game plan. Just like we weed out this and clean out that, diet for this and exercise for that, we can and should take the initiative to become financially FIT!
Amanda Villemarette, MS is the Operations Manager/ Paraplanner for Live Oak Wealth Management, LLC, located at 7020 Highway 190 W. Service Road, Suite A in Covington. For more information, call 985624-8916 and see our website liveoakwealthmanagement.com for performance disclosures. 22 Sophisticated Woman | April 2021