M&F Bank Financial Planning
In today’s dynamic financial landscape, navigating your financial future requires careful planning and expert guidance. Whether you aim to build wealth, save for retirement, or prepare for your family’s eldercare, our dedicated team is here to meet you where you are.
What is Financial Planning?
Financial planning entails much more than simply managing your money; it’s about crafting a roadmap to achieve your goals and aspirations. At M&F Bank, we believe in taking a holistic approach to financial planning, considering each aspect of your economic life. This includes cash flow, savings, debt management, investments, and insurance. We aim to provide you with the big picture of your current financial situation. After that, we can assist you in developing strategies geared toward your unique needs and objectives.
Why is Financial Planning Important?
Financial planning is essential for several reasons. First, it helps reduce stress by providing a clear pathway to help you achieve both short- and long-term. Second, it lets you make the most of your assets and resources. Instead of doubting if you’re doing the right thing with your income, we can help ensure you optimize your finances. In other words, we always want to help you stretch every dollar as far as possible. Our community deserves to have the maximum impact of each cent earned. A well-crafted financial plan can also help weather unexpected challenges and uncertainties, ensuring financial stability and peace of mind for you and your loved ones.
Financial Planning Tools
At M&F Bank, we understand that effective financial planning is crucial for achieving your goals and securing your future. Here are some essential tools and strategies to help you begin navigating your financial journey:
1. Set Financial Goals:
Begin by defining your financial aspirations. Whether buying a home, retiring early, or becoming debt-free, setting clear and attainable goals provides direction and motivation for your financial plan.
2. Track Your Money:
Gain insight into your monthly cash flow to understand where your money goes. When analyzing your income and expenses, you can identify areas for saving and debt reduction, allowing you to create immediate, medium-term, and long-term financial plans.
3. Budget for Emergencies:
Establishing an emergency fund is essential for financial stability. Start small and gradually build your nest egg to pay for sudden expenses like car repairs or medical bills. Additionally, building good credit can provide flexibility and security in times of need.
4. Tackle High-Interest Debt:
Prioritize paying off high-interest debt to prevent unnecessary financial burdens. Consider debt consolidation or management plans to streamline payments and reduce interest rates.
5. Plan for Retirement:
Utilize employer-sponsored retirement plans like 401(k)s and IRAs to build your retirement savings. Maximize contributions and explore investment options to secure your financial future.
6. Optimize Your Finances with Tax Planning:
Understand how tax planning impacts your financial well-being. Review your W-4 form to adjust withholdings and explore tax credits and deductions to minimize tax liabilities.
7. Invest to Build Your Future Goals:
Investing is accessible to everyone and is essential for achieving long-term financial objectives. Explore investment opportunities such as 401(k)s, brokerage accounts, and IRAs to grow your wealth over time.
8. Grow Your Financial Well-being:
Protect yourself from financial setbacks by increasing contributions to retirement accounts and building an adequate emergency fund. Consider insurance options like life insurance to safeguard your loved ones’ financial security.
9. Eldercare and Estate Planning:
Plan for the future by creating a will and a plan for your later years. We can help you honor your wishes and distribute your assets as you see fit. By preparing eldercare and estate planning documents, we can provide clarity for your loved ones regarding your care and affairs.
Financial Services at M&F Bank
At M&F Bank, we offer a range of financial planning services to meet your needs:
- Complete Financial Planning and Investment Advice: Our expert team is eager to work with you one-on-one. Together, we’ll develop a comprehensive financial plan tailored to your current situation that fits your goals. Whether you’re planning for retirement, saving for a significant purchase, or managing debt, we’re here to provide expert guidance every step of the way.
- Specialized Guidance and In-Person Meetings: If you have complex financial needs or prefer face-to-face interaction, we know that speaking with an automated robot is the last thing you want. Our traditional financial advisors are available to provide personalized guidance and support. Whether you need assistance with estate planning, tax planning, or insurance, we have the expertise to help you navigate even the most challenging financial situations.
- Portfolio Management: Our services include portfolio management based on your goals and risk tolerance. For simplified and cost-effective investment management, we offer regular monitoring and rebalancing of your financial planning– always with your approval. We want to help you bridge the wealth gap in our community by staying on track. We want nothing more than for you to reach your investment objectives.
Are you ready to take control of your financial future? No matter where you’re in your financial journey, at M&F Bank, we’re here to help you achieve your economic goals. Reach out to us or visit one of our branches today to learn about our financial planning services. At M&F Bank, we are here to help you build a brighter financial future.
Wealth Managers
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Terry Colen, CRPC®
Conley Perry, CFP®, ChFC®, APMA®
Wealth Manager - 30 years of experience
Terry Colen, CRPC®
Terry Colen has more than 30 years of experience in financial services and is dedicated to helping clients work towards their financial goals.
His incorporation of a positive attitude and humor helps his clients understand issues that can be intricate and complex. For Terry, being an independent advisor is especially important as it enables him to focus on his client’s needs and putting them on a path to financial success.
Private Wealth Advisor - 20 years of experience
Conley Perry, CFP®, ChFC®, APMA®
Conley has been a private wealth advisor for over twenty years. During this time, he has helped clients pursue their financial goals through comprehensive financial planning and investment management.
Conley believes that the key to a successful financial planning relationship is treating his clients like family. He models his personal beliefs in his daily interactions with clients by being a patient and compassionate champion for his client’s financial success.