An effective financial plan will drawn upon basic principles and products of finance, investment, taxation, and insurance to contribute toward a viable life experience.   There are Six Steps to the Planning Process:

Initial Process Review to:

- Understand the planning approach.

- Appreciate there will be decisions and agreements to be

   made regarding alternative strategies and specialists.

- Commit to providing all necessary data and

  other relevant personal particulars and considerations.

Data Gathering to provide:

- Required financial data for the plan,

- Short and long term goals,

- Risk tolerance,

- Awareness of financial matters and formal

   commitments already undertaken.

Financial Analysis to establish:

- Net income and worth.

- Life insurance needs.

- Realistic retirement and estate planning objectives.

- Investment requirements to fulfill financial plan.

Plan Formulation and Recommendations to:

- Achieve agreed upon realistic goals.

- Provide for the necessary budget, investment, insurance needs.

- Address taxation and other commitments.

- Secure Retirement and Estate plan requirements.

Plan Implementation to:

- Secure the products and services needed making sure to...

- Understand their cost, function, limitation and risk parameters.

- Engage the professionals to provide the products and services.

Monitoring and Plan Review to:

- Appraise progress being made toward achieving results.

- Adapt to changing personal, financial and market circumstances.