Financial Planning Objectives

Definition of "Financial planning objectives"

Susan Edwards real estate agent

Written by

Susan Edwardselite badge icon

Triumph Realty of Georgia

Goals of the financial planning process as follows:

  1. Standard of Living Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as automobiles, vacations, entertainment.
  2. Savings emergency funds for sudden and unexpected events, such as extra living expenses because of a fire at one's home.
  3. Protection DISABILITY INCOME INSURANCE; HEALTH INSURANCE; LIFE INSURANCE; PROPERTY AND LIABILITY INSURANCE (all forms designed to offer coverage against the uncertainty of a financial loss due to the PURE RISK).
  4. . Investment Accumulation of wealth through the return on assets deployed leading to financial independence.
  5. Estate Planning distribution of the invested assets held for the purpose of the accumulation of wealth in a tax efficient and effective manner.

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