What Is Financial Planning?
Financial planning is a step-by-step process for achieving one’s life financial objectives. A financial plan serves as a road map as you travel through life. It fundamentally aids you in maintaining total control over your income, expenses, and investments so that you can manage your finances and be able to live the lifestyle that you aimed for.
Why do more than
90% of people fail in
1. Lack Of Financial Knowledge
Many people lack proper financial education; the Internet is simply a wealth of information; learning the wrong technique may cost you more money; and, most of the time, these vendors are selling you more courses or attempting to sell you something.
2. Tracking & Monitoring System
Lack of a proper tracking system to monitor your finances and the inability to identify which areas of your financial health require an immediate response, while others fail to do a comprehensive risk profile assessment for you.
3. regular Financial Health Check
Unable to perform a proper financial health check that can highlight all the key financial issues and improve on them.
4. Retirement Planning
Unable to reveal whether or not you have enough money to fund your retirement and lifestyle.
5. Insurance Need Analysis
Unable to establish how much funding your family needs in the event of unforeseen circumstances.
6. Financial Goals Planning
Recognizing that everyone’s financial goals are unique and necessitate a different approach to satisfy these needs.
7. Your Action Today Determine Your Financial Future
Not understanding the inaction or financial decision made today that may have a detrimental effect on your financial future.
What are the benefits of Financial Planning?