What is Financial Planning?
Financial planning is a process for creating, assessing, and realizing financial goals. A financial plan is meant to give you control and peace of mind for the long term by focusing on action in the near term.
The objectives for any financial plan are to:
* Identify the aspects of your life that are most important to you.
* Establish and prioritize the financial goals that support this life.
* Determine what can be done now and in the future to improve your financial situation - or what should NOT be done!
* Decide among alternatives to get to where you want to be (the plan).
* Develop a system for tracking and monitoring the plan.