Source: IRIS (23-APR-12)
http://www.myiris.com/financial/storyShow.php?dir=2012/04/23/&fileR=20120423093014715

Like most people, you have hopes, dreams, and life goals for yourself and your family. These might include buying a home or business, saving for college education for your children, taking a dream vacation, reducing taxes, and retiring comfortably. Financial planning is the process of wisely managing your finances so that you can achieve your dreams and goals- while at the same time helping you negotiate the financial barriers that inevitably arise in every stage of life.

Managing your personal finances is ultimately your responsibility. However, you don`t have to do it alone. A qualified financial planner, such as a Certified Financial Planner (CFP) professional, can help you make decisions that make the most of your financial resources.

Financial planning can help you:

> Set realistic financial and personal goals.

> Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments and estate plan.

> Develop a realistic, comprehensive plan to meet your financial goals by addressing financial weaknesses and building on financial strengths.

> Put your plan into action and monitor its progress.

> Stay on track to meet changing goals, changing personal circumstances, changing stages of your life, changing products, markets, and tax laws.

Why financial planning/ benefits of financial planning:

The job of a financial planner and the outcome of your financial planning exercise would provide the following.

> Peace of mind.

> A path or direction to your life goals.

> A blue print to your financial life.

> Remedy mistakes already made and avoid mistakes that can happen in the future.

> Provide for a lifetime financial coach/ guide to all your important financial decisions in life.

> Demonstration and implementation of efficiency of savings

> Providing for financial literacy.