Article provided by: First Oak Financial

Financial Plans Port Moody

Debt-free is a rare occurrence in this age. Most millennials will gladly abandon their debt and instead focus on more pragmatic life goals simply because they do not picture themselves working years trying to pay off debt and maintain a credit score. The good news is there is a group of notable people who work smart and pay off all their debt in a couple of years or with one lump payment.

People with impeccable finances have brilliant management skills to propel them to a debt-free life. They are acutely aware of the best financial opportunities, hire an expert to anticipate risks, and create a feasible plan to perfect their financial plan.

Traits of the best financial plans in Port Moody


The best kind of plan has goals of what you want to accomplish. It should have at least one or a list of things you can accomplish over a short and long-term duration. We establish short-term goals to achieve in the next couple of years and long-term goals to cover a longer lifespan. Each goal has strategic steps towards achievement and a host of tools to expedite their achievement. Do not worry if you do not have a list of short or long-term plans because our services will help you articulate your goals and create a realistic plan.

An income statement

The only way to create successful financial plans is to determine the net worth after all expense deductions. We calculate all your expenses and liabilities and form an opinion to help you establish a realistic net worth statement. You can bring along your budget to put the rubber on the road and ensure consistent cost calculations so you have the best possible financial plan.

Debt management

Debt weighs heavy on credit cards and minimizes your financial potential for many different expenses. First Oak Financial Oak. helps you prioritize your expenditure so that you can pay off your student loans, mortgage, car payments, and other debts as efficiently as possible.

Retirement planning

The retirement plan is just as important as all other financial plans, even if you anticipate fewer expenses. A detailed plan allows you to be financially independent so you can spend your savings and investments to live life as you wish. We must take into account your wish for severe issues like estate planning and life insurance. The general rule is to fine-tune the entire budget and make sure your short-term goals support the long-term goals.

Insurance plans

Insurance is an essential aspect of your financial plan. It is essential that you have a detailed insurance map including the following insurance coverages:

  • Health insurance becomes more critical as you grow older
  • Disability insurance to protect your family against unprecedented treatment expenses
  • Homeowner’s insurance if you have to rent or own a car or home
  • Life insurance so you have a good idea of what you can extend your dependents

At most, the financial plan should also have an estate plan to state your final wishes. Consider establishing the complexities of your financial plan with us so that we can include all details. Call 604-761-7543 or contact us today for more information.


Financial Plans Port Moody

First Oak Financial


Financial Plans Port Moody

#1900 1500 W Georgia St

V6G 2Z6

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