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Posts Tagged ‘Financial Planning’

It is clear that now everyone is trying to lavish on to provide advice to save and improve their household finances or personal punished, starting with ourselves, from this blog. Long ago, perhaps this type of publication or clinics offered the image of something anachronistic, or misaligned with the times of plenty who allegedly lived, but now are on the agenda.

Everyone enters the dynamics described, and the banks too. Today we will review the most recent case, that of Bankinter, which has opened its service Personal Financial Planning , which will try to advise their clients on procedures and instructions to channel their savings present and future, without forgetting the decisive fiscal constraints. Even this Bankinter Personal Financial Planning is committed to providing estimates of our long-term financial future, including a 15-year period. Do we have predicted the current crisis if we had hired a few years ago? Go figure!

In short, almost everybody aims to offer crystal balls and spiritual advisors for our pockets. Undoubtedly, this trend will pass and be restricted to fair market terms at the turn before long.

Plan is to assemble a program clear and organized to achieve a goal.
Planning our finances is the process of identifying targets for the management of asset and liability flows of money in the medium and long term, and the implementation of the steps appropriate to achieve them, with proper professional advice.

Simplifying, we start to assess where we are today (economically speaking, assets, liabilities, revenues and expenses), where we are going, and what is most important, where it is heading and how we will succeed.

In Personal Financial Planning, everything revolves around the person and their wants and needs, not including business plans.

It is a process that develops over time, with appropriate modifications as conditions change and the environment.

In this process, identify the goals and are designed according to a set amount and a time to reach (much money do I need and how long you get).

Gives professional advice and objective external view of the development plan, provides expertise and market knowledge, giving preference always the client’s interest above their own. Professional input is very important, considering that the money brings with it many emotions, which may adversely affect the achievement of objectives.

Today we can say that all individuals and families, regardless of socioeconomic level, need a financial plan. Social and labor mobility is much higher, a person throughout his life can change jobs several times, or even career. It is also possible that he now owns a business at some point need to find a job as an employee, and perhaps once again be independent. Social security systems today are overwhelmed, which makes each one should provide for their retirement needs, this period is being expanded because of increased life expectancy.