Why Consider Financial Planning?

10 Retirement Considerations For Married Couples
November 3, 2016
Saving Money Vs. Investing
November 21, 2016
Show all
financial planner

Financial planning is a dynamic process to help you make well-informed decisions about how you allocate your money so that you can achieve your goals in life. The financial planning process will determine where you are now, where you want to be in the future and provide strategies on how you are going to get there. This is what forms your financial plan.

A well-crafted PERSONAL financial plan will help you address commonly voiced concerns such as:

  • Am I making sufficient provision for our current and future financial needs?
  • Am I making sure my family or partner is protected if something happens to me?
  • Am I getting the right balance between spending now and saving for later?

If you are a business owner it will help you address concerns such as:

  • Have I the most suitable benefit programs for my employees?
  • Is my existing retirement plan adequately funded for me to maintain my lifestyle?
  • What plans should I have in place in the event that I am no longer able to run the business?
  • What succession planning should I be doing now to prepare for the future transition or exit of my business?

Working with a Financial Planner

Financial planners advise clients on how best to save, invest, and grow their money. They can help you tackle a specific financial goal—such as readying yourself to buy a house—or give you a macro view of your money and the interplay of your various assets. Some specialise in retirement or estate planning, while some others consult on a range of financial matters.

Don’t confuse planners with stockbrokers — the market mavens people call to trade stocks. Financial planners also differ from accountants who can help you lower your tax bill, insurance agents who might lure you in with complicated life insurance policies, or the person at your local Fidelity office urging you to buy mutual funds.

Leave a Reply

Your email address will not be published. Required fields are marked *