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What are the 5 areas of financial planning?

The five key areas of financial planning are estate planning, retirement planning, self-protection/risk management such as insurance, tax planning, and investment planning. A financial plan is an essential tool for your financial well-being, both now and into the future.

What are the elements of a financial plan?

The main elements of a financial plan include a retirement strategy, a risk management plan, a long-term investment plan, a tax reduction strategy, and an estate plan. A financial plan involves a thorough examination of your income and spending. It can improve your understanding of your financial circumstances at all times.

Do you require assistance with financial planning?

If you're striving to have the financial resources for a long and fulfilling life, starting to plan for that future — now — is essential. You may need help with financial planning in the following 9 areas: Cash flow/Budgeting – The old saying, ‘it’s not what you make, but what you keep,’ holds true.

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