As Laurence J. Peters once said “If you do not know where you are going, you will probably end up somewhere else”.

In actual fact, that is what financial planning is all about. A crucial step in mapping out your financial future well-being by structuring your short and long term goals and arranging your financial resources to meet these goals.

You need to ask yourself:

  • How much do I need save to achieve my financial goals?
  • Do I have enough insurance? E.g. Life Cover; Disability Cover; Dread Disease Cover; etc
  • How do I save for my children’s education?
  • What is my net worth?
  • Can I retire early? If not, when can I retire?
  • How will inflation and my lifestyle impact my financial goals?
  • Is my estate planning up to date and does it fit my situation?

Often people believe that they can answer these questions and do their own financial planning but you may want to seek help from a Professional Financial Planner.

A Financial Planner will assist you in structuring your financial goals by means of:

  • Investment Planning- Action plans to accumulate wealth
  • Retirement Planning – This is a key to secure a comfortable financial well- being at retirement
  • Estate Planning – Wealth preservation for your loved ones. This will ensure that at your death there is enough money in your estate to pay off your outstanding debts and for your family to live on.

Establishing a relationship with a Financial Planner you can trust is important to achieving your goals. Your Financial Planner will assess your current financial circumstances and structure a comprehensive plan customized for you without making you feel criticized or pressurized for more business.

 

For example– Your Financial Planner will also focus on:

  • Your budget – An independent look at your current spending choices and make recommendations that you may not have considered.
  • Emergency savings– It is always advisable to invest in products with high liquidity, which you can easily utilize in times of emergency i.e. Money Market funds
  • Last Will and Testament– a Financial Planner will ensure that you have a Will that is properly drafted and signed and discuss with you the cost of drafting a Will as well as setting up a Testamentary Trust if you have minor children.

 

Need help with your Financial Planning? Get in Touch!