FHCE 2100 Lecture Notes - Lecture 18: Immovable Property, Financial Plan, Financial Statement
Document Summary
Steps in the financial planning process: define financial goals, develop financial plans and strategies to achieve goals. Save and invest enough money to retire at a desired age. Save up a ,000 down payment for a car. Pay off a small debt within 8 months. Increase your retirement contribution by per month. Reduce your utility bills by per month. Financial planning life cycle how much money you"re making throughout your life. Think about making money, buy a house - move money to investments. Think about insurance life insurance, health insurance. Savings and investing edward jones, right investment so can retire earlier. Tax planning how can you come up with best plan to not pay too much taxes. Allow you to take stock of your current financial situation net worth, cash to pay bills (points at these problems) Describes your financial position at a given point in time. The value of owned items stated in dollars.