Benefits
of Financial Planning
A
financial planner guiding you through a well-defined process
you will result in many benefits to you. The Board of Standards
for the Financial Planning profession has developed “practice
standards” (www.cfp.net/learn/standards,asp)
governing this process. While these standards give each
planner some latitude, you can expect the process to address
specific financial issues, enabling you to:
- Reduce
the stress of dealing with financial decisions
- Understand
what is possible and what is mere speculation
- Focus
on the underlying issues that lead to satisfaction,
rather than being distracted and making unnecessary
expenditures on things that don’t contribute
to your goals
- Understand
yourself better and determine what is really important
in your life by exploring various financial scenarios
(modeling) to identify ways to achieve your goals
- Finalize
an overall plan to maximize the probability of
accomplishing your dreams while minimizing the
risks, thereby providing peace of mind.
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In
short, the benefits of planning are a combination of services
and advice unique to each individual, providing some degree
of confidence about an uncertain and unknowable future. |