Financial Goal Planning is a process of evaluating your current financial position, setting financial goals for you and your family and charting a roadmap through an Investment Planning process to achieve those goals.
It’s a three-step process and one needs to delve into the details of the following questions -
Where am I currently? – your current wealth status
What I want to achieve? – your stated goals with numbers, time horizon, ability and willingness to take risk
How to reach set goals of family? – the road map
Financial Planning is an ongoing exercise. You will need to revise the plan, from time to time, to keep it current & relevant.