Financial Planning and Investment Paper 2

Financial Planning and Investment Paper 2 - Ward 1...

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Ward 1 Financial Planning and Investments Financial planning is defined in the business world as an organized approach in which a financial planner helps a customer maximize their existing financial resources by utilizing financial tools to achieve their financial goals. In simpler terms, financial planning is the way to meet your goals in life, such as your children’s education, buying a home, or retirement, through proper management of your finances. A good financial plan will include a budget which is a plan where an individual can work out where they currently are, what they may need in the future, and what they must do to reach their goals. Financial planning is all about simple math that includes 3 major components: Financial Resources (FR) Financial Tools (FT) Financial Goals (FG) These 3 components make up the financial planning equation: FR + FT = FG. (Unknown) Financial planning involves choosing different kinds of investments that would be the most appropriate for whatever age group an individual falls under. This paper will look at four different age groups: 0-18, 25-35, 40-60, and 65+. The first age group is the young crowd. There are a few good options for this group to
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Financial Planning and Investment Paper 2 - Ward 1...

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