A financial plan is a complete assessment and evaluation of an individual’s current pay and future financial state. The financial plan uses current known variables to manage cash flow statement, predict future income, asset values, and withdrawal plans. The financial plan also helps an individual manage and control his finances.
You may not see it because you thought you can manage your financial statement, but in reality, a financial planner can really help you a lot. Not just in helping you organize your finances but also provides you a projection of the outcome of your savings and helps you make crucial decisions with your money.
A financial planner can also give you advice on the following:
Here are 6 reason why financial planning is important.
Here are the steps for a successful financial plan.