what is financial plan?​

Answers 1

Answer:

  • FINANCIAL PLAN.

In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans.

BASICS.

  • Financial planning in 7 steps.

Start by setting financial goals.

Track your money, and redirect it toward your goals.

Get your employer match.

Make sure emergencies don't become disasters.

Tackle high-interest debt.

Invest to build your savings.

Build a moat to protect and grow your financial well-being.

CATEGORIES.

  • Risk Management:

A complete financial plan helps you manage the risks that could undermine your goals, deplete your assets or threaten your income.

A complete financial plan helps you manage the risks that could undermine your goals, deplete your assets or threaten your income.Investment Planning.

Tax Planning.

Retirement Planning.

Estate Planning.

STAGES.

  1. Identify your Financial Situation.
  2. Determine Financial Goals.
  3. Identifh Alternatives for Investment.
  4. Evaluate Alternatives.
  5. Put Together a Financial Plan adn Implement.

#CARRYONLEARNING

BRAINLIEST PLEASE.

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