MEMBER TIP:

A Simple Framework for Financial Planning Success

Fatema Udaipurwala, CFA , Wealth Advisor, Eagle Strategies, LLC

Fatema

Financial planning can feel overwhelming—but not having a plan often leads to emotional decisions and missed opportunities. But here's the good news: financial success doesn't have to be complicated. It's about building a strong foundation, step-by-step, and then maintaining it.

Good plans take time to build, while setbacks can happen fast. That’s why I encourage breaking down your financial planning into manageable chunks throughout the year. Once the groundwork is laid, it's more about fine-tuning than starting from scratch.

A practical way to stay on track is to divide the year into three seasonal checkpoints:

January–April: Risk & Protection

  • Insurance:: Ensure life, disability, home, auto, umbrella, long term care insurance and health policies are up to date. They form your financial safety net.
  • Estate Planning: Establish or review trusts, and wills with your attorney.  Review gifting strategies to help minimize probate, estate taxes, and family conflict.
  • Charitable Giving: Plan your donations for maximum impact and tax efficiency.

May–August: Investments & Cash Flow

  • Asset Allocation & Location: Adjust your portfolio to match your goals and risk tolerance. Optimize asset allocation and location to reflect your risk tolerance for tax efficiency.
  • Education Funding: If you have children, review your college savings plans and adjust as needed. Consider using 529 plans or other tax-advantaged options.
  • Diversification: Consider broadening exposure across stocks, bonds, and alternatives to help reduce volatility*.
  • Cash Flow Check: Align income with spending and savings targets.
  • Combat Inflation: Don’t let inflation eat into idle cash—consider higher-yield alternatives. (High yield alternatives might be subject to a fixed term period and early withdrawal or transfer penalty.)

September–December: Tax Strategies- Taxes are one of your biggest expense for the year, so its pays to examine these options 

  • Roth Conversions: Down markets and low-income years maybe ideal times to consider converting traditional IRAs to Roth IRAs. (The conversion amount is treated as taxable income in the year of the conversion. Withdrawals of converted funds are subject to a five-year holding period or subject to a 10% penalty when withdrawals are made before five years and under 59½.)
  • Tax-Loss Harvesting: Consider offsetting capital gains by selling underperformers before year-end.
  • Max Contributions: Maximize retirement accounts, HSAs, and other tax-advantaged vehicles.
  • Benefits Review: Evaluate your open enrollment options.

Final Thoughts

Financial success doesn’t come from big one-time moves—it comes from consistent, thoughtful adjustments over time. By focusing your energy seasonally, you stay ahead, not behind.


Fatema Udaipurwala, CFA
Wealth Advisor

California Insurance License #0M12978
New York Life Insurance Company
425 Market Street, San Francisco, CA 94105
415-218-3408
Financial Adviser for Eagle Strategies LLC. Eagle Strategies LLC is a New York Life Company

Diversification does not guarantee a profit or protect against loss in decline markets.

I do not provide tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions. Taxes is one of the many items to consider when evaluating your financial strategy.

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From Connections Newsletter (Member Tips): April 2025

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The suggestions of the contributor do not constitute professional advice and are intended for general informational and educational purposes only.  Nothing contained herein is intended to be or should be used as a substitute for professional advice, and readers should not act or rely on this information without seeking specific guidance directly from a qualified professional.

The opinions and information expressed in this blog/post/webpage are solely those of the contributor and do not necessarily reflect the views of FWSF. FWSF is not responsible for any errors or omissions in this content or any damages resulting from its use.