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The purpose of this
section is to give you the tools to be your own financial planner.
All of us need a
“plan” to be financially successful.
But, many families don’t need a professional financial
planner to guide them through the financial planning process.
A lot of organization and guidance can simplify the process
greatly. The
do-it-yourselfer can very effectively plan their financial future,
with education, discipline and the right tools.
Financial Planning is
the process of planning your spending, financing and investing to
optimize your financial situation. Financial Planning is an
ongoing process. Once
you have a plan in place, then you will spend a small amount of
time annually updating your plan.
During and after the process of planning you will be able
to make better financial decisions and over time increase your
wealth, which will lead to more flexibility in decision making in
the future.
Engaging tax
professionals and attorneys is not something you can do without.
Attorneys must draft your legal documents.
You can save thousands of dollars in fees by being your own
financial planner, but don’t try to save money by drafting your
own legal documents or going without professional tax advice. When
your financial situation becomes complicated or you don’t have
the time or desire to educate yourself in the financial planning
process, seek a qualified financial planning professional who has
the abilities, tools, training, experience and credentials
[preferably a certified financial planner (CFPâ)]
to meet your needs.
The worksheets and sample
planning documents are tools that may not be inclusive of all of
your financial needs. You
can adapt these to fit your circumstances.
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