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PrintBuilding Blocks of Financial Plans
Financial planning can be described as a system to enable you to identify and reach your money-based goals by making wise lifetime decisions about how you make money, how you invest it, and how you spend it. This differs from the related topic, estate planning, which is concerned with what you can do to transfer your wealth at death for the greatest advantage to your heirs (and at the least cost to you while you are still living!).
Elsewhere in this module we deal with the important topic of creating your wealth-building plan, which provides a step-by-step process for identifying and reaching your goals. Here, we focus on the major areas that you'll have to consider when you start to actually construct your plan:
- Compensating yourself as a business owner.
- Building an investment plan.
- Planning for your retirement.
- Insuring your life.
- Other insurance.
- Borrowing money and managing credit.
- Choosing among co-ownership options for property owned with others
