Mastering Your Money in North Phoenix: Expert Financial Tips for Living Your Best Life

Living in North Phoenix offers a vibrant lifestyle, from stunning desert scenery to exciting entertainment options. However, navigating the financial realities of this unique area requires thoughtful planning and informed decisions. James Van Pelt of Edward Jones recently provided a very well-rounded and complete discussion at our Living North Phoenix Networking Meeting about finances and planning.

This blog features insights from a local financial planner, highlighting the importance of financial planning and offering valuable tips to help you master your money and live your best life in North Phoenix.

James’ Background

James and his wife moved here from Nebraska over 8 years ago. James has a degree in finance and started his Arizona career in residential home lending. That then transformed into wanting a change and moving to Edward Jones to help people with their finances. He was then asked to work out of an office near the TSMC Factory as there is a huge need for those that live and work near there to ensure their finances are in order. James also has his Series 7 and Series 66 Licensing and can assist with stocks and bond advisements as well. The Series 66 allows advising on the State level, and 7 allows it on the Federal level.

James and his wife are avid foodies and love finding out about and going to new restaurants in North Phoenix.

Why Financial Planning Matters In North Phoenix

There are 3 areas to cover when creating a financial plan. It is important to cover these in depth to make sure your plan is most accurate.

  • The cost of living: North Phoenix offers a range of housing options, but understanding the overall cost of living; including factors like property taxes and utilities, helps you make informed financial decisions.
  • Lifestyle considerations: Whether you enjoy outdoor activities, exploring local restaurants, or attending cultural events, factoring in your desired lifestyle into your financial plan ensures your budget aligns with your aspirations.
  • Planning for the future: Whether it’s saving for retirement, education, or unexpected expenses, financial planning equips you with the tools and strategies to achieve your long-term goals.

Expert Financial Tips For North Phoenix Residents

Need some practical advice from the local financial planner, tailored to the specific needs of North Phoenix residents. It could include:

  • Budgeting and expense tracking: Establishing a realistic budget and diligently tracking your spending empowers you to make informed financial choices and identify areas for potential savings.
  • Debt management strategies: Developing a plan to manage existing debt effectively, including exploring options like debt consolidation or repayment strategies, can free up resources and improve your financial standing.
  • Saving and investing: Exploring various saving and investment options, considering factors like risk tolerance and investment goals, allows you to build wealth and secure your financial future.

Additional Resources For Financial Planning

There are many people who think they don’t make enough money to plan or save for the future. James discussed that very topic and brought up a super quick calculation to help prepare a rough number that might be needed. The calculation is as follows: take your current spend (expenses) and multiply that by 25.

Every dollar counts and starting somewhere is better than not starting. Use that as a guideline and remember that the compound effect, especially of interest, is one of the greatest ways to accumulate financial wealth.

Live Your Best Life In North Phoenix

Further thoughts about retirement planning. James’ organic approach to planning includes taking the following items into account to create a solid, well-rounded plan to help have the best plan possible. In that plan, you would be discussing your wealth management assets, what your current budget is, what you wish for, what might be realistic, solutions to all of your financial needs, and the partnership that you would be establishing to ensure the end goal(s) can be accomplished.

Starting a plan and/or saving for your North Phoenix needs should happen now. When you are ready, reach out to James. He can help you.

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