A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, children education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.
Having a financial plan is like having a travel plan – it identifies where you’re going, how and when you’ll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life.
Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much of trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience of the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.
By developing a financial plan you and our family
You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life.
Will have a better understanding of your current financial position.
Determine attainable retirement, education, insurance, and other financial goals.
Review goals, funding strategies, and alternatives to balance all goals.
Have the necessary financial resources set aside to fund your goals as they occur.
Reduce the effects of unexpected events such as disability, premature death etc.
Make an Effective Financial Plan with CAPKCO Management
The need for financial plan is all the more very important in the turbulent economic times of today. If you do not have one till now, do not delay any more and Get it now. Don’t be self-satisfied that you will be okay whatever happens. Face the reality.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
Lorem Ipsum is simply
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
Lorem Ipsum is simply
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
Lorem Ipsum is simply
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
Lorem Ipsum is simply
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an uk.
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Risks of not having a financial plan
The need for financial plan is all the more very important in the turbulent economic times of today. If you do not have one till now, do not delay any more and Get it now. Don’t be self-satisfied that you will be okay whatever happens. Face the reality.
You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.
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You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.
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You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.
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You might become a victim of mis-selling and build a corpus of investment products that neither suits your financial needs nor your risk profile.
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You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for.
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