RMIN 317 Lecture Notes - Lecture 12: Warren Buffett, Certified Financial Planner, S&P 500 Index

• School: University of Calgary
• Department: Risk Management and Insurance
• Course: RMIN 317
• Professor: Anne Elizabeth Kleffner

Document Summary

Financial planning supports your life: it involves not only planning for the future it"s about the continuum of your life, including today. Financial planning the big picture: the financial planning process, financial planning for canadians all you need to know. Reflect on your life goals: what is a goal you have before 30, by 50, when do you want to retire, possible goals: Think in terms of shorter and longer-term goals. As well, consider your needs and wants. Current cash flow, net worth, tax projections, etc. Then consider your needs and goals . Identify problem areas (gaps) / opportunities: example. Living benefits: survival rates are up: occurrence of illnesses in young people is increasing. Retirement: rsps, retirement savings account, employee pension plans, etc. Based on current cash flow, net worth, tax projections, etc. and based on stated goals : identify problem areas / opportunities: Ensure appropriate and adequate insurance: home, auto, disability, life.