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What's the Value of Knowing Our Financial Confidence Score?

Do you know your own financial confidence score and what components are used to calculate it? Learn the value and inner-workings of a financial confidence score in this Arista Advice.

Full Transcript: 

Question of the week is: "Paul, what is the value of knowing our financial confidence  score?"

Financial confidence score gives you the peace of mind to visualize your financial plan with a figure and a number that gives you the probability of success. It is a thousand different plus simulations running different market outcomes, both positive markets and negative markets and giving you a result. 

As you'll see here, here is a client that had a 67% financial confidence score in this situation a client had a lot of resources, but not clear actions to take to get to where they wanted to be into retirement. We then met, formulated a plan, developed a plan, and implemented the plan, and as you'll see here, this was the outcome after our meeting and after we developed the plan. It went from 67% to 98%.

We increased the contribution levels. We implemented tax strategies. We also used all of the asset classes that are available in the capital markets, and we optimized their accounts. And in return, we went from 67 to 98% degree of confidence. We went from red to green.

Here are three important steps to take:
Number one: Empower yourself.
Number two: Be knowledgeable.
Number three: Find a fiduciary financial advisor who's going to give you advice instead of trying to give you a product and help you find the solution and create a game plan to get you to your final destination. 

Please go to our website AristaWealth.com to look at other tools and tips and videos to help you prepare for your financial future. Give us a call.