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financial planning.
FINANCIAL PLANNING
Probably all of us have a goal in life and more often than not those goals involve money and perhaps lots of it. You might want to buy a comfortable house to live in or a new car, good education for your children or a happy retirement. Each dream you have, has a price tag attached to it. Question now is how would you achieve your goals? That is where a financial plan takes place. Think of a financial plan similar that of a house plan; it is a model of your ideal home. Nobody wants to live in a house they don’t like but some are forced to because of poor planning. In a house plan, there is so much detail in it to the point that it covers even the smallest feature of the house; similarly a financial plan should also cover all of your financial strategies or decisions no matter how small it is.
The financial plan therefore gives a direction in reaching your goals; it should act as a guide. Without a financial plan you may still be able to reach your goals but the thing is you leave too much on chance. What you want is a strategy that would empower you and give you peace of mind. We don’t want to grow old dependent on other people or institutions. Think about it, you will have to work for many years and yet at the end of it all, you will still be on the same situation, as you were years before, if you just leave your future to chance. The only difference is you have reached a point in your life that you may no longer be productive and therefore, can’t be self sufficient. I do hope for all our sake we don’t have to experience that.
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