| Did you realised today, when you go to | | | | financial goals. |
| the bank, unit trust or insurance | | | | Financial planning is also about making |
| company, financial planning seems to be | | | | financial choices. What are they? Some |
| the new buzzword amongst clients and | | | | of the decisions will include things |
| individuals in the investment and | | | | like: |
| banking field? | | | | - Should I spend all my takings today? |
| But, what IS financial planning, | | | | Or should I preserve a segment of it for |
| actually? Is it only for the rich or | | | | rainly days? |
| individuals who possess cash to invest? | | | | - Should I clear all my debts right now? |
| Or is it for those who desire to buy | | | | Or should I enlarge my savings for |
| insurance and unit trusts? Or is it | | | | retirement instead? |
| somthing that we layman can achieve? | | | | - Should I layout for my child's |
| The truth is that whoever has financial | | | | education? Or should I let him look for |
| strength will meet their financial | | | | his own education applications and apply |
| goals. However, in spite of of how much | | | | for a student's loan? |
| cash you are making, financial planning | | | | These are the decisions that can make or |
| will assist you fulfil both greater | | | | break your personal bank. |
| wealth and financial security. | | | | So, what is included in Financial |
| Insufficient or poor financial | | | | Planning? If you were to wonder what |
| supervision can certainly show the way | | | | areas wealth management would cover the |
| to unthinkable financial disasters. Even | | | | following: |
| the rich can become a pauper due to poor | | | | - Cash flow management: The ability to |
| financial planning. | | | | manage the liquidity of your cash - |
| For instance, an uninsured loss can | | | | Investment planning: The decision of |
| clear out all your accumulated riches. | | | | making more money with the extra cash |
| Insufficient savings for retirement can | | | | you have on hand. - Insurance planning: |
| cause one into a lower quality of living | | | | Planning for the unexpected situations - |
| or even worse, the postpone of | | | | Retirement planning: Knowing how much |
| retirement and numerous other fiscal | | | | you can have when you stop working - |
| catastrophes that are far too depressing | | | | Estate planning: Knowing and managing |
| to be named! | | | | the ultimate value of your property. |
| You wouldn't want to be in this | | | | All in all, an ideal financial plan does |
| situation! All these can be avoided by | | | | not focus on one angle or product |
| proper financial planning! | | | | exclusively. One should not look at just |
| So in a nutshell, financial planning | | | | one aspect of the planning. It involves |
| involves engaging a broad view of one's | | | | looking at all areas of planning, |
| financial affairs looking over many | | | | putting them together in perspective and |
| areas of wealth supervision and then | | | | finally the careful consideration when |
| running through a step-by-step process | | | | making financial decisions. |
| to solve financial problems and achieve | | | | |