Financial Planning

Financial planning is the process of setting goals, assessing current financial conditions, and devising a strategy to achieve those goals through the proper management of resources. It involves analyzing income, expenses, assets, and liabilities to create a comprehensive plan that covers budgeting, savings, investing, retirement, insurance, and estate planning. Financial planning aims to ensure that individuals or organizations can achieve their long-term financial objectives, secure their futures, and manage financial risks. This process often includes developing a detailed financial roadmap that outlines steps to reach specific financial milestones, taking into account factors such as inflation, taxes, and changes in life circumstances.