Financial Planning for Your Future

What is a personal financial life cycle?
1. Series of stages a person goes through during his/her life
2. Needs and wants change over time
3. Ongoing process
Key financial planning
1. Income & expenditure (budgeting)
2. Risk management planning (insurance)
3. Taxation planning
4. Saving & investment planning
5. Retirement planning (pension)
6. Estate planning
Factors that affect financial planning
1. Employment status
2. Age
3. Number of dependents
4. Health status
5. Economic outlook
6. Marital status
Life stages
1. Birth to teens
2. Teens
3. Twenties
4. Thirties
5. Forties
6. Fifties
7. Sixties
8. Retirement

Zusammenfassung der Ressource

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