Personal Financial Planning Necessary

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What is Personal Financial Planning?
Personal financial planning is guided by a licensed financial professional on the financial decisions faced by individuals. It includes portfolio allocations, future planning decisions, goal setting, and exploration of different investment vehicles.
Is Personal Financial Planning Necessary?
In order to sufficiently organize your finances in such a way as to reduce taxes, maximize investment opportunities, save time, and appropriately distribute risk, you should engage in at least some form of personal financial planning.
But Can't I Just Do It Alone?
Possibly, but will you? Most professionals and business people have found it increasingly difficult to do their financial planning on their own. The most common walls to planning on your own are:
• Insufficient time
• Too great a number of …show more content…

You and your spouse obviously have a crucial role in the planning process. The plan is custom built to your specific circumstances, and as such should include specific aspects of your life. You should make sure that your planner understands you attitudes, goals, risk tolerance, and security needs. The more the planner understands you, the more customized your plan can become.
Are Fees for Financial Plans Tax Deductible?
Yes. Expenses for investment and tax planning are deductible as itemized expenses, subject to limitations - IRS Section 212.
How Can I Measure the Worth of Financial Planning?
Once the planner has assessed your situation and made recommendations, you should be able to compare the projections with the cost of the analysis. Your planner should have presented data that more than paid for the expense of the plan.
Will Personal Financial Planning Make Me

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