| Financial Planning |
| Financial planning is about taking charge and managing your finances to ensure your financial well-being. |
| It may be helpful to view financial planning as comprising six different areas: |
| managing your cashflow for your needs today and also to meet future goals like your retirement or your children's education; |
| managing you and your family's exposure to unforeseen events like pre-mature death, illness or disability; |
| investment planning to meet your financial goals; |
| planning for your retirement; |
| planning your taxes efficiently; and |
| planning the transfer of your estate to the people and causes you care about |
| Financial planning involves three key steps: |
| 1.Identifying your immediate (short term) and longer term needs (like getting health insurance; paying for your household expenses) and goals (like saving for a home or for your retirement) |
| 2.Knowing what resources you have to meet these needs and achieve your goals (like your income, the savings you have or financial assistance) |
| 3.Managing the resources, e.g. using a budget and having a plan for your savings and investments to help you reach your goals. There is a range of financial products to choose from to help you with your needs and goals. Choose something suitable for you. |
| Get started or update your financial plan today by reviewing the three steps:Setting goals, assessing your Financial situation and managing your resources. |
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Setting Goals
