What is financial planning?
Financial planning is the process of meeting your life goals through the proper management of your financial resources. These may include purchasing a home, saving for college, or planning for retirement. It’s important to know that financial planning is a process, not a transaction. The goal is to adopt a big-picture, integrative approach to your personal finances.
Financial planning is about controlling spending, managing credit, reducing taxes, increasing savings, protecting family and assets, and building wealth for the future. This process entails gathering financial information, establishing life goals, evaluating your current financial status, and developing a strategy to help you achieve your life goals.
What is the financial planning process?
To develop a solid financial plan, it's important to cover all your bases, including examining your current situation, setting financial goals, and measuring your progress. From start to finish, a Certified Financial Planner™ professional can take you through the financial planning process steps to help you achieve your financial goals.