What is Financial Planning
A comprehensive evaluation of an individual’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.
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Is the process of meeting your financial goals through the proper management of your finances?
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Financial goals can include buying a home, saving for your child’s education or planning for retirement.
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Is the result of listening, consultation and interactive financial assessment?
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It is not a product, but is a comprehensive assessment of the needs
Why Financial Planning is importance?
Hedge against inflation, impact of inflation, Malaysia Medical Inflation
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Save for future: Becoming financially independent after retirement
(If we retire with no savings or have no plans to save for retirement, we become a burden to our families.) -
Standard of Living: Ensure there is enough fund coverage to replace any lost income should a family bread winner become unable to work.
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Most children are depending on parents in their financial support
Advantage of Financial Planning?
5 Pillar of Wealth
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Wealth Creation,
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Wealth Accumulation
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Wealth Protection
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Wealth Distribution
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Wealth Enhancement