Financial Planning for Your Future

Time for Business by Edco
Mind Map by , created over 2 years ago

Mind Map on Financial Planning for Your Future, created by Time for Business by Edco on 02/23/2017.

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Time for Business by Edco
Created by Time for Business by Edco over 2 years ago
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Financial Planning for Your Future
1 What is a personal financial life cycle?
1.1 Series of stages a person goes through during his/her life
1.2 Needs and wants change over time
1.3 Ongoing process
2 Key financial planning
2.1 Income & expenditure (budgeting)
2.2 Risk management planning (insurance)
2.3 Taxation planning
2.4 Saving & investment planning
2.5 Retirement planning (pension)
2.6 Estate planning
3 Factors that affect financial planning
3.1 Employment status
3.2 Age
3.3 Number of dependents
3.4 Health status
3.5 Economic outlook
3.6 Marital status
4 Life stages
4.1 Birth to teens
4.2 Teens
4.3 Twenties
4.4 Thirties
4.5 Forties
4.6 Fifties
4.7 Sixties
4.8 Retirement

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