Money Matters: Financial Planning Month
October is financial planning month. It may not sound exciting, but a financial plan can help you achieve the goals you’ve been saving for. Barry Bigelow from Great Waters Financial share’s the importance of financial planning.
Essentially there are five points to having a financial plan.
- Tax planning
- Income planning
- Protection planning
- Investment strategy
- Legacy planning
Barry says you want to have something for all of those if you don’t want to get caught by surprise within your financial plan.
For retirement an income plan can come in handy for people who are wondering how to take the money that they saved up for a long time without causing tax issues or creating a loss of money. It also helps you stay on track and reassures you that the amount you’ve saved will last.