What is Financial Planning?
Updated: Apr 8, 2020
Well, there are many variation of thoughts when it comes to Financial Planning (FP) and it all depends on whose mouth it is coming from. Let’s hear from the professions say:
Teacher 👩🏻🏫 - FP is a comprehensive evaluation of an investor’s current and future financial state by using..... 📖 (textbook answer).
Doctor 👨🏼⚕️ - FP is about taking care of your health because Health is Wealth 🍎
Lawyer 👨🏽⚖️ - FP is about making sure your assets are clearly distributed upon your death. Have you written a Will? 📜
Banker 💁🏻 - FP is about offering cash line facilities to our valued customers and let them buy what they want. Sign up for loan and receive shopping vouchers 🛍 Today only!
Insurance Agent 👨🏻💻 - FP is buying our latest policy (again) that’s so good, it’s only $3 a day. Your support will help me hit my target 📈
Accountant 👨🏼💼 - FP is about balancing your assets and liabilities and make sure your inflow (income) is more than your outflow (expense) by the end of the month ⚖️
Mother 👵🏽 - FP is simply to put all your money in a fixed deposit account, this is the safest thing to do. Renew every year and get a free umbrella 🌂
The Rich 🏌🏽 - FP is to make your money work harder for you, acquire assets, not liabilities 🏘
Middle Class 👱🏼♀️ - FP is making sure my next job’s salary is enough to pay off my credit card bills 💳 and let me travel... not many la, just 5 times a year. “You should be here” 🏖
The Poor 🙇🏽 - FP? I don’t even have enough to makan, how to plan? Sorry bro, I need to go and fetch my wife now. Zoommmm....... 🚗
It’s interesting to view things from different perspective. In fact, there’s no one correct or wrong answer. Adopt what you think is ideal for your life.
Here’s a good tip: Financial planning is about setting a vision and budgeting your finances. Be responsible for your own life - from WD