Financial planning involves a holistic review and assessment of a person’s personal finances. This includes income, expenses, investments, goals, taxes, risk capacity and risk tolerance. Once assessed, a financial planner develops a strategy, or financial plan, for the person based on where they currently stand and what their goals are.
By having a sound financial plan in place, you will be able to rest assured that you are working towards your goals (although revising these goals regularly is advised) and that extreme ups and downs in the market are all taken into consideration.
This plan will include: