We Are a Nonprofit Organization That Provides Free Financial Planning and Literacy Services to Underserved Populations in RI.
“Achieving your financial goals without a plan is simply luck.”
Our Clients
At RhodeWay Financial, we are dedicated to bringing comprehensive financial planning services to:
Financial Planning
Financial planning is a collaborative process used to generate a full picture of a person's current financial situation, understand their financial goals, and then jointly develop the steps they need to take to give them the best opportunity to achieve those goals. A good plan needs to be both achievable and flexible, and progress against the plan should be measurable and monitored.
Financial Literacy
RhodeWay Financial also offers financial literacy classes on a variety of topics. Financial literacy topics may be taught by one of our planners or by someone from our professional network. Discussions are tailored to your group's needs and can be held on a wide range of financial planning topics.
Our Approach
We meet with our clients to get to know them and understand their financial priorities. We gather information to create a picture of each client's current financial position. Using the client's goals and financial data, we create a financial plan tailored to your fact pattern to discuss with you. We develop alternative approaches for this discussion and align them around the client's preferred strategy. The final plan will identify steps the client may need to take to give them the best opportunity to achieve their goals.
A comprehensive plan should also identify risks that may impact your ability to achieve your goals. These risks and the plan, as a whole, are monitored by the client after it is implemented. The plan can be modified or adjusted for any future changes to the client's facts or financial situation.
Frequently Asked Questions
Financial plans can help you control and improve your financial situation. They can help you to prepare for things like your first home purchase, children, a child's education, your retirement, or big/unexpected life changes.
A good plan starts with gathering data and understanding your set of realistic goals and objectives. Once the data is in hand, and we align on goals, we build a comprehensive plan that clearly outlines the steps and risks to achieving your goals. A comprehensive plan has many components that are driven by your particular circumstances (emergency fund, retirement savings, insurance, tax impacts, wills, etc.). You should always monitor your progress against your plan and adapt to the risks that may impact your ability to achieve your goals.
Your plan should be flexible and should be updated for changes as your life changes. At RhodeWay Financial, we are available to meet with you each year, or more often if needed, to review your plan and make updates to meet your changing needs and priorities.
Financial literacy is a level of understanding of a broad range of financial concepts and risks that build on each other and ultimately allow an individual to confidently use that knowledge to make effective decisions to improve their financial position.
Partner Organizations
