Personal Financial Plan

Personal Financial Plan

For many people, engaging in financial planning is not the thing for them, simply because they are used to living a day as it comes. Not making a budget, no matter how much money one has got, is at best building castles in the air. Financial Planning is about assessing a business or person’s objectives and profile and finally developing a plan for the future. It is important as it charts the road map of a person or business to meet expected and unexpected needs in life.

“The first red flag is if someone gives you advice before learning anything about you, such as your financial information, your family, obligations, personal goals and risk tolerance,” said David Yeske, a San Francisco-based certified financial planner (CFP) and president of the 29,000-member Financial Planning Association.”That person may be more interested in making financial transactions than in doing comprehensive financial planning.”

It may not always be easy to come up with a financial plan, but with the help of Financial Adviser, this should be an easy task.