Financial planning is the process of understanding ones current income and identifying investment options keeping in mind estimates for future income and expenditure. Simply put it is the act of setting aside money today for the expected and unexpected expenditures of tomorrow.
Financial planning is not just about the money. It also looks at ones habits, priorities and nature. Often it's personal values that take precedence -such as wasteful spending tendencies, force of habit and a general unwillingness to save today for tomorrow will have a direct impact on how you manageyour money. Your financial plan has to take all your habits in mind and build a viable plan.
Working with an independently owned financial planning firm allows you to explore a range of potential products and services and how they may benefit you. Strategies can be specifically targeted towards the goals that are most important to you, such as retirement and rainy-day funds.
Financial Planning requires a forensic approach to investigating your financial risks and opportunities. Here at wealthclock,we insist on learning all about you before aligning the appropriate financial services, strategies and structures to your unique situation and personal goals.