Essential Components to a Financial Plan
You hear all the time how important it is to have a financial plan. But has anyone ever explained to what exactly financial plan is?
A financial plan at it's simplest is a roadmap to reach your goals. Yes, this includes financial goals but it also includes your life goals as money is often the primary vehicle to attain the lifestyle you desire.
A financial plan takes into consideration a whole slew of personal and financial information, which is typically collected and assessed during the planning process: