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What Is Financial Planning?

Put simply, financial planning is preparing for the demands of your future
Obvious demands are life's major events: getting an education, buying a home, retiring from work, providing for your children, and the inevitable surprises. Financial planning may also mean organizing your finances and investments because you've received a windfall, or your income or health status is changing.

But the ultimate goal of personal financial planning is peace of mind.

This personal financial planning guide will take you in new directions, highlight important tools, and, if you choose not to go it alone, prepare you to find and use the professional services you need.

Dreams made real and disasters avoided
The process of assessing insurance needs, saving money, naming beneficiaries, and choosing investments can be daunting. The good news: help is plentiful. Throughout this guide you'll be building on the basics to help identify and plan for most financial issues. The sections are divided into several areas:

  • Planning for today
  • Preparing for tomorrow
  • Investing for the future

By the end, you'll be able to create:

  • A personal financial status report — a basic balance sheet outlining your assets and liabilities
  • A short list of your goals in key areas, including an estimate of the dollar amount it will take to make them happen

We've also included many resources in this guide to help you start making your goals a reality!

Planning for Today