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Financial Planning for Your Future
Description
Mind Map on Financial Planning for Your Future, created by Time for Business by Edco on 23/02/2017.
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junior certificate
Mind Map by
Time for Business by Edco
, updated more than 1 year ago
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Created by
Time for Business by Edco
almost 8 years ago
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Resource summary
Financial Planning for Your Future
What is a personal financial life cycle?
Series of stages a person goes through during his/her life
Needs and wants change over time
Ongoing process
Key financial planning
Income & expenditure (budgeting)
Risk management planning (insurance)
Taxation planning
Saving & investment planning
Retirement planning (pension)
Estate planning
Factors that affect financial planning
Employment status
Age
Number of dependents
Health status
Economic outlook
Marital status
Life stages
Birth to teens
Teens
Twenties
Thirties
Forties
Fifties
Sixties
Retirement
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