Stages of Financial Planning Process

There are several steps to be followed in conducting effective financial planning.

1. Checking the current financial situation
   Start by examining current financial situation with great attention to income, savings, living expenses, and debt. Remember the adage "great pegs than the pole" This often happens in modern society anywhere in the world, especially the middle class youth.You will need a lot of accurate information about investments in particular emerging today, the new policies in the insurance world. benefit pension plans and information on how to apply the tax rules can affect any programs or investment product.
2. Set life goals and financial
   The purpose of life and the specific financial planning is very important in a financial. Extremely diverse financial goals, financial goals could be like how we spend all our income or start planning to save and invest for the sake of financial stability in the future. client's goals should be based on the conditions of work, values ​​and their current financial condition.
   By setting financial goals, you determine how much risk to be in the face. consider how best to integrate information risk is based on personal experience and others that can be found in the source of financial planning. Short-term goals are things that can be achieved within one year, such as saving for a vacation or plan a small scale debt. Medium-term goals ranging from 2-5 years. temporary, long-term goals can be achieved within a period of 5 years or more. eg preparing pension funds for children's education in college, purchase a villa for a vacation.
   
   [continued ...]