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The future belongs to those who believe in the beauty of their dreams.
Eleanor Roosevelt
Joining the Peace Corps. Starting your own business. Learning piano. Biking across Tuscany. Buying a new home. Finding new ways to relax. Life has many opportunities whether youre starting your first job, starting a family or entering retirement. Just ask yourself, What could I do next?
Financial planning has traditionally been about numbers. How much money you have. How much you will need. How long it will last. Now there is a new way to plan for tomorrow. And it starts with your dreams. Sure, theres still a lot of math involved. But were good at that. Thats why more people come to Ameriprise for financial planning than any other company.1 We helped pioneer financial planning more than 30 years ago and our financial planning process is defined by the Certified Financial Planner Board of Standards, Inc. Our unique and collaborative Dream > Plan > Track >approach to financial planning starts with your dreams, not just the numbers. An Ameriprise financial advisor can help you turn your dreams into reality2 by first helping you define your dreams, then developing your plan and tracking progress toward your personal vision of fulfillment. Take the first step toward the life youve imagined starting with this Dream Book guide.
People who write down their dreams are much more likely to achieve them. This guide is the first step to help you think about your dreams and which ones are most important. From there, we can work together to help make your vision come to life.
Source: SEC Form ADV, Part 1A, Item 5, Dec. 31, 2006. Based on the number of financial planning clients annually disclosed in Form ADV, Part 1A, Item 5, available at adviserinfo.sec.gov as of December 31, 2006. Ameriprise Financial cannot guarantee future financial results. ameriprise.com
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Sit down by yourself or with loved ones and start to imagine your future. Consider what drives you in your life and how that has changed over time. Start by recording where you are today:
Name(s) Current age(s) Date What milestones do you see in your future? start a
family, send kids to college, buy a new home, retire, others
If you could do anything, time and money aside, what would it be? spend time with family, buy a
vacation home, start your own business
Lose weight Become debt free Exercise more Write a book Stay healthy Take a cruise Go to Hawaii Travel to Europe Pay off the mortgage Retire
1Source:
Relaxing and enjoying life travel with family, read more, savor
quiet time
grandchildren? What activities do you like to do together? Do you desire or need to travel to see family members?
New Retirement Mindscape study, conducted in August 2005 by Ameriprise Financial in conjunction with Age Wave and Harris Interactive. Source: MayoClinic.com, 2007.
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Furthermore, the most expensive states for food and lodging for a family of four are: Hawaii $650 District of Columbia $611 Rhode Island $345 New York $326 New Jersey $324
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Move for work be in a hot spot for your field, start a business
with a colleague
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1Source:
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We all have a say in how were remembered. Our legacy is formed by the ideas, actions and causes to which we dedicate ourselves today. Whats important to you? What do you want to pass on to others?
Family and friends children, siblings, parents, friends, pets
What brings you happiness? As it turns out, money alone does not buy happiness. Having a vision for the future and planning for that vision are as important as money in achieving a fulfilling life.
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Congratulations! Envisioning your dreams and putting them down on paper is the first step in making them a reality. The next step is to prioritize the goals that are most important to you and to establish milestones for reaching them. The most successful goals are those that follow the STAR technique: 1) Specific 2) Time-bound 3) Actionable 4) Relevant Remember, you are not alone. Your Ameriprise financial advisor can help you refine your goals and estimate how much money it will take to realistically bring your vision to life.
Withdrawal rates shown are based on an average pre-tax rate of return of 9.6% and blended tax rate of 20%. Annual rate of withdrawal assumptions (as a percentage of savings): 10-year projection 9.6%; 20-year projection 5.4%; 50-year projection 3.6%. Withdrawal rates are based on a 75% likelihood of success for an investor. Success is defined as meeting your income need every year of the projection, adjusted for inflation. Average pre-tax rate of return is hypothetical and is not representative of the actual rate of return you would experience. Blended tax rate is determined by dividing an investors total tax liability by their total income. Consult with your tax advisor about your personal situation as your holdings and blended tax rate will likely differ from this illustration. Ameriprise Financial does not provide tax advice.
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Dream #1
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Dream #1
(S) What do you want to achieve? Be specific.
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Dream #2
(S) What do you want to achieve? Be specific.
Dream #3
(S) What do you want to achieve? Be specific.
(T) By when? Set a deadline. How much will it cost? (A) What action steps do you need to take? 1) 2) 3) 4)
(T) By when? Set a deadline. How much will it cost? (A) What action steps do you need to take? 1) 2) 3) 4)
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Dream #4
(S) What do you want to achieve? Be specific.
You may also find this worksheet useful in seeing the overall picture of the dreams you hope to achieve.
Planning for your dreams Worksheet example
One-time costs
Dream/Goal Cost Year needed
Ongoing costs
Cost per year # of years Start date
(T) By when? Set a deadline. How much will it cost? (A) What action steps do you need to take? 1) 2)
Travel to see siblings Cabin College for kids Boat Family cruise to Alaska
15 15 8
Ongoing costs
Cost per year # of years Start date
3) 4)
Take a look at the dreams youve described. You will probably see that some require more financial planning than others. Thats why its important to share your Dream Book guide with those close to you and your financial advisor. Working with an advisor, you can begin to see your personal priorities, create a plan that includes your dreams and track your ongoing progress.
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