The Financial Planning Way!

When it comes to financial planning, people often get it wrong. Many start with trying to make as much money as possible and trying to follow the financial planning methods they have heard about like investing, savings, and buy life insurance. There is nothing wrong with these strategies, but most often, something is missing like what are we planning for anyway? Financial planning is more often different things for different ages and income levels. For example, younger Americans will view cash flow management as financial planning, where as older people mainly view retirement planning as financial planning. Primarily it comes down to your age and your attitude towards having structured guidelines to achieve your goals. Primarily it come down to to your age and your attitude towards having structured guidelines in place to achieve your goals. However you look at it the one truth that remains is that financial planning is a process. This process can give you peace of mind from worry, no matter what the U.S. economy is doing. The process can help you ensure a healthy retirement, and it will also help you in deciding when is the right time to buy a home or a new car because of the structure.The financial planning process starts with with carefully thought-out goals and personal values. The way to achieving your goals is through financial planning strategiesand is helped with the use of several financial products that are designed to carry out your goals and your personal aspirations. Otherwise you will be wasting your time and energy as well as your financial resources for things that may not be in your best interest. The financial planning association (FPA) defines financial planning as the process of wisely managing your financial assets, so that you can achieve your goals and dreams - while still being able to handle the financial challenges that come along with life. The Financial planning process takes a big-picture snap-shot of your personal finances, which encompasses employee benefits, taxes, insurance, investments, retirement planning and estate planning for your heirs.Each one of these issues must be viewed in the context of the others, as each and every financial decision that a person makes can potentially have an affect on every other aspect of your financial life. Financial planning is not a one time process, rather it is an ongoing process of evaluating your financial situation, while developing and implementing a plan that will need ongoing adjustments at times. But the key take away is that you have a structured, disciplined, process for building and maintaining wealth. Then leaving an estate for your heirs.Thank you,John C. Verducci 111