Do You see yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where Financial Planning comes in.
Financial Planning is a process that can help you reach your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources. “It is an exercise aimed at identifying all the financial needs of an individual, translating the needs into monetarily measurable goals at different times in the future and planning the financial investments that will allow the individual to provide for and satisfy his future financial need and achieve his life goals.”
Who is a Financial Planner?
Benefits of Financial Planning
* To Investor
- Provides direction and meaning to financial decisions
- Helps understand how decision in one area effects other areas
- Helps evaluate short and long term effects of decisions on one’s life goals
* To Planner
- Ability to establish long term relationships
- Ability to build a profitable business