This question is great if you’re considering working with a financial planner.
What Is the Financial Planning Process?
The financial planning process consists of these six steps:
- Understanding your financial circumstances
- Identifying goals
- Analyzing the current course of action
- Developing financial planning recommendations
- Implementing the financial plan
- Monitoring progress and updating
It involves budgeting, saving, retirement planning, investing, and insurance. A financial planner can help you build a plan to reach your goals, including budgeting, saving, retirement planning, investing, and insurance.
The most critical details in personal financial planning are these steps:
- Setting goals and understanding the current financial situation
- Researching strategies, building strategies, and choosing a plan
- Implementing the plan, monitoring the progress, and updating the plan as you move forward.
Working with a financial planner takes the stress of making decisions off your shoulders, and they will only recommend their tried and true strategies. Click here to learn more.
Are you Self-Employed or own a business? Learn How to Plan for Retirement as a Self-Employed Person, click here.
Blog Provided by 360 Financial
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Securities offered through LPL Financial. Member FINRA & SIPC. Investment advice offered through 360 Financial, a registered investment advisor and separate entity from LPL Financial.
