Posts Tagged ‘Financial Planning’

5 Steps to Start Your Personal Financial Planning

Sunday, April 28th, 2013

There are 5 important steps in financial planning that will remain important throughout the process.

1.Organize your current financial condition. This means that you have to organize everything related to your financial condition such as managing your earning, your expense, living costs, amount of debts, mortgage and managing your assets. The knowledge of your current financial condition will help a person to decide which needs to choose according to its priority.

2. Defining Your Financial Plan. This is the next crucial step where you must set a goal of your financial planning activity. Write down your dream for example you want to go on a vacation to Europe, or you want to buy a car. This is just example but the most important thing is you must write down a goal that is realistic, specific, and measurable so it will be clear when you can achieve it.

3. Identifying alternative ways to reach your goal. There ways to do it such as choosing a proper investment method.

4. Creating and implementing your financial plan. This act should be done after you set your financial goals and an example of implementing your financial plan is doing action such as saving money every month, buying gold and etc.

5. Evaluating your financial plan. If there is something misleading in your financial planning then you must revise it as soon as possible, for an example if you do a wrong step in investing you have to change it as soon as possible.

If we think again about financial planning, it is not so complicated. The process of financial planning is actually a journey of someone from one starting point to an end point. We could use any kind of vehicle to reach the end point and the way people travel could be different from each other. The journey could differ in terms of speed, methods and even the path people choose. Of course the faster we reach our destination, the better, but we should reach our destination as safe as possible.

So by now you understand that financial planning is important in reaching your goals. So why wait longer? Let’s plan our finance now.

As a conclusion there are 3 great remarks in financial planning.

1. Create a financial goal that is realistic. Reassure yourself that reaching your goal is possible.

2. Balance inflation by searching alternative ways in earning money. Invest your time and money on products that could overcome inflation.

3. Plan your financial condition without suffering because planning your finance doesn’t mean you have to lose fun things in life.

Buffie the Tax Heiress is a reputable and experienced accounting firm in Atlanta. If you are looking for a personal or business accountant in Atlanta then call us today. Thay can help with personal taxes, business taxes and more. Their offices are conveniently located to Atlanta, Fairburn, East Point, Decatur, Fayetteville, College Park and more. Call their professional tax accountants today.

Things You Need Know About Financial Planning

Sunday, April 1st, 2012

Financial planning is a good idea for anyone with an income. Some people think of it as a synonym for retirement planning. However, financial planners are professionals who assist people in developing plans for many kinds of investments and expenses. Financial planning is defined as a process whereby an individual or a couple settles objectives, assesses all resources and assets, estimates any future financial needs, and makes necessary plans to achieve any monetary goals they may have. It includes a variety of factors, such as cash flow management on a daily basis, selection and management of investments, as well as insurance needs. There are numerous elements that are involved with financial planning. This includes items such as risk management, allocation of assets, investing, estate planning, retirement planning, and tax planning. The strategy that is created offers a tailored approach that satisfies any present financial concerns as well as offer financial security for the future.

When a person wants the most out of the money they earn, this tool can play a starring role in achieving that outcome. Through careful financial planning individuals or married couples are able to set certain priorities and work toward achieving any long term goals they have set forward. It also provides a bit of a safeguard when it comes to the unexpected, such as income loss, unexpected illness, or work-related injuries.

No two people will look at financial planning the same, because everyone has different ideas regarding what their it will encompass. For some individuals, financial planning means finding investments that will offer security once a person or a couple retires. For other people, it is making investments and saving to have money ready for when children go off to get a university education.

When going about financial planning, it is best to obtain the services of a professional financial planner. Financial planners offer guidance and advice when it comes to any issues regarding financial planning. With life being complicated and sometimes hectic, it can be difficult to find the necessary time to manage future financial affairs. Not only that, but financial planning is often a multi-disciplinary task that “Average Joe’s” are just not capable of understanding. A financial planner will look at the current situation of a client and all future objectives. They will analyze the current financial status of the client and then recommend a financial plan that will suit both present and future needs.

Details of the financial plan may include retirement plan contributions, portfolio of investments, a budgeting plan for all current living expenses, and projected savings growth.

Unfortunately, many people delay in preparing for the future as they are too busy maintaining their current financial situation. No matter what a person’s income level is or their future plans, financial planning is essential to any future goals. With the assistance of a financial advisor, any individual can implement successful financial goals. They will also aid in maintaining the necessary discipline to stick with the plan. And do not worry if there are changes to a personal situation, such as a birth of a child, financial plans are not written in stone. The financial planner will aid in changing things around to ensure everything is properly maintained and a person’s financial future is properly taken care of.

At APS Financial Planning, they believe in the difference advice can make to their clients – whatever their goals or stage of life.Their Financial Planning Adviser is Timothy Foster (pictured above). Timothy is a Certified Financial Planner© and holds an Advanced Diploma in Financial Planning.Being a member of the Financial Planning Association ensures he is committed to a code of ethics and rules of professional conduct, over and above what is required by law.