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Financial Planning
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Understanding Financial Planning: Financial planning assists in realizing the lifelong
financial goals through management of resources. Financial planning provides direction and
meaning to your financial decisions. It allows you to understand how each financial decision
you make affects other areas of your finances. For example, buying a particular investment
product might help you pay off your debt faster. By viewing each financial decision as part of
a whole, you can consider its short and long-term effects on your goals. You can also adapt
more easily to life changes and feel more secure that your goals are on track.
The financial plan puts together a client’s profile by detailing his/her financial objectives,
current income, investments, risk tolerance, expenses,, insurance coverage, retirement
programs, , and other pertinent information to compose a plan that meets the client's overall,
or specific, financial agenda