Financial Needs Analysis: counting pennies, creating wealth

To build a sound investment plan for the future, the first thing you need to do is consult a financial planner who will conduct an analysis of your current situation with the view to connecting your financial status with needs and goals. From this starting point, a strategy can be set in place comprising steps to a well-considered investment regime that will ultimately build the kind of wealth you dream of and hope for. It’s a thorough investigation of your financial affairs. A financial needs analysis is therefore essential to preparing for, and accessing, future financial needs.

There is no one plan that suits everyone, which is precisely why the individual analysis must be done. It’s a process that will be affected by five major factors: current wealth; income; health; dependents; and goals.

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A Partnership for Life: transparency and your financial advisor

“There’s no single professional that’s right for all clients.” ~ Gerri Walsh, vice-president for investor education, Financial Industry Regulatory Authority (Finra).

Service is generally about politeness, competency and going the extra mile to help a customer. But the service provided by your financial advisor is a different story altogether – because here you are looking at the very epitome of trust, the basis of a partnership for life.

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Finance: Events that trigger the review of your financial plan

The key to a financial plan is actually having one. Too many people think that it is something you put off until you have enough money or will only have to think about when planning for retirement. A financial plan, however, is important from the get-go. A financial plan should be with you like a good friend from the day you start working and throughout your life until well into retirement.

Each year, across all savings, investments and accounts, you should revisit your priorities and your strategy for reaching them. Monitor your goals and check if they are still aligned with your current situation. If your conditions have changed, make adjustments as necessary to ensure that you still meet timeframes and risk tolerance in order to bring your portfolio profile in line with relevant market performance.

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How to plan your holiday budget – without losing sight of important commitments

December is generally a hectic month. And it creeps up on us – catching us in mid-stride as we strive to finish projects, tackle school holidays and (for those who celebrate Christmas) shop for all those last minute gifts. And then there’s that time to take a break and, if you’re able, get away on a well-deserved holiday.

And like much else of December, that holiday can be upon you quite suddenly, leaving very little time to plan and save costs on a host of discounts already snapped up by the early birds. Here are some tips on how to plan better, save better and ensure that you are still meeting your financial commitments on the first of January.

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