Financial planning consists of the following six areas:

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Financial planning consists of the following six areas:
`CASH FLOW MANAGEMENT
This deals with how you allocate your income to meet daily expenses, and how you set aside sufficient money and other assets to meet future financial goals.

RISK MANAGEMENT
This is one of the most important areas of financial planning. It means making sure that you have enough family income in the event of unforeseen circumstances such as pre-mature death, disability or illnesses.

INVESTMENT PLANNING
This involves putting your assets in differerent financial instruments to meet your investment goals and to grow your wealth.

RETIREMENT PLANNING
This focuses on building up wealth during your working years to achieve financial independence when you retire.

TAX PLANNING
This deals with minimising your taxes through the use of various tax benefits and incentives.

ESTATE PLANNING
This final phase of planning allows you to plan for the transfer of your assets to your beneficiaries with minimal hassles and estate taxes.

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