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Financial Planning

Financial Planning

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Financial Planning

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Presentation Transcript

  1. Financial Planning

  2. What is Financial Planning? • Financial Planning is the process of meeting your life goals through the proper management of your finances. • Financial planning is a client-focused process for helping the client achieve his or her financial goals. • Financial planning can help assess every aspect of your financial life—including saving, investments, insurance, taxes, retirement, and estate planning.

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  4. Need Of Financial Planning

  5. What does Finance Planning Entail? • Sharing your Life Goals, values and philosophies about money and finance with your planner. • Cultivating a relationship with your planner based upon natural trust and respect. • Determining your net worth by identifying all of your assets and liabilities. • Gathering detailed information about your daily, monthly and yearly expenditures. • Constructing a cash flow statement based on your income and expenses. • Analyzing your spending habits and developing a workable budget that you can sock to.

  6. Continue.. • Gathering and Analyzing Financial statements from banks and brokerages, estate documents insurance policies real estate holdings and employee benefits plans. • Discussing various life planning assumptions identify short & long term goals then mapping out various paths to take to realize those goals based upon these assumptions. • At all times during this process, your planner will be acting as a fiduciary agent for you- your best interest will always be paramount.

  7. Financial Planning Process

  8. Services Offered • Insurance Planning • Retirement Planning • Tax Planning • Investment Planning • Estate Planning

  9. Financial Planner • financial planner is someone who uses the financial planning process to help you figure out how to meet your life goals. • The planner can take a “big picture” view of your financial situation and make financial planning recommendations that are right for you. • The planner can look at all of your needs including budgeting and saving, taxes, investments, insurance & retirement planning.

  10. Financial Planner –Thumb Rules • Aggressive Investors should hold stocks, Conservative Investors should hold bonds. • Long-term Investors can afford to take more stock market risk than short – term investors.

  11. Do I Really Need a Financial Planner? • Yes, You need expertise you don't possess in certain areas of your finances. For example, a Planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances. • You want to get a professional opinion about the Financial Plan you developed yourself. • You have an immediate need or unexpected life event such as a birth, inheritance or major illness. • You feel that a professional Advisor could help you improve on how you are currently managing your finances. • You know that you need to improve your current financial situation but don't know where to start.

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