Financial planning is a vast subject, but it can be summed up as a framework for achieving or maintaining financial independence.

Most people face two main challenges during their working lives :

  • securing the home (or homes) they wish to live in when retired
  • accumulating and managing the additional financial resources to provide their desired standard of living during retirement

But, at the same time as making sure these future objectives are met, it is important to protect and enjoy the present. This can be a difficult compromise, but financial planning can help you make informed decisions.

So financial planning can encompass anything from simple “income vs expenditure” budgets to complex lifetime capital, income and tax planning. Of course financial planning also takes into account mortgages, insurances, savings, investments, pensions, all things financial…

The central concept of financial planning however is that all these elements come together into a cohesive plan that gives you the best chance of achieving your objectives and to provide you with peace of mind that you are as financially secure as possible.