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Financial Planning

Tracking ID: 1-570568

What is Financial Planning?

Financial planning is the process of pursuing your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child's education or planning for retirement.


The Benefits of Financial Planning

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. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and potentially feel more secure that your goals are on track.

You may decide to seek help from a professional financial planner if:

  • You need expertise you don't possess in certain areas of your finances. For example, a planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances.
  • You want to get a professional opinion about the financial plan you developed for yourself.
  • You don't feel you have the time to spare to do your own financial planning.
  • You have an immediate need or unexpected life event such as a birth, inheritance or major illness.
  • You feel that a professional adviser could help you improve on how you are currently managing your finances.
  • You know that you need to improve your current financial situation but don't know where to start.