A dream turns to reality when the desire is supported financially. For this you need to take a small step forward towards 'Financial Planning'. Financial Planning is a process of setting objective, assessing assests and resources, estimating future financial needs and making plans to achieve monetary goals.
Financial Planning is a holistic approach to plan, manage, and achieve your overall goal. Its key aspect includes Risk Management, Goal Setting and Developing Strategies to effectively deploy your financial resources to achieve the projected goal and dream. Comprehensive Financial Planning will ensure that our families are capable of realizing their dreams even if we are not around.
Six basic tools used for Financial Planning are; 'Income Planning', 'Tax Planning', 'Insurance/Risk Planning', 'Investment Planning', 'Retirement Planning', & 'Estate Planning'.