Personal Financial Planning

Personal Financial Planning

Personal financial planning is a type of short and/or long term financial planning by an individual either through their own independent means or with the assistance of a certified financial planner (CPA). Personal financial planning can include the use of tax plans such as an Individual Retirement Account (IRA), making sure certain issues are taken care of for your retirement, and looking at borrowing requirements for mortgages and overdrafts. Personal Financial Planning compels you to look at how you build and preserve your personal financial wealth. Personal financial planning can also help you to guarantee the growth and longevity of your wealth.


Having a personal financial plan in place can bring you great benefits in the long run. Personal financial planning can help you to identify your retirement needs by accessing your assets and sources of income. Personal financial planning can help with reviewing your income shortfalls and further evaluate the best ways to save for your financial future. Personal financial planning can help with accurately estimating what you will need for your children’s education. Personal financial planning can protect your family in cases where you may become disabled or unavailable to work by making sure that you have enough money to further provide for your family in case of an emergency. Finally, personal financial planning can essentially help you to achieve your investment goals, therefore being able to leave a wealthy legacy to your heirs.