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Financial Planning for Your Future

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Mind Map on Financial Planning for Your Future, created by Time for Business by Edco on 23/02/2017.
Time for Business by Edco
Mind Map by Time for Business by Edco, updated more than 1 year ago
Time for Business by Edco
Created by Time for Business by Edco about 7 years ago
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Resource summary

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