FINANCIAL PLANNING CHECKLIST

The Purpose of Financial Planning. The aim of financial planning is to meet your objectives: your personal goals in the areas of finance that are vital to you. This checklist involves realistic planning in the areas of insurance, handling investments, retirement planning, tax planning and estate planning.

What Are Your Goals? What goals do you want to set for yourself and your family? What do you hope to accomplish financially within the next few years and longer term? An other way to approach your goals is to ask what are your top areas of financial concern today. Do you have any financial problems that need immediate attention? In what areas can you use the most help?

Cash Management. Are you having difficulty in living within your means? Do you use a budget? Do you have an emergency fund?

Tax Planning. Are you satisfied that you are doing all that you can to minimize your income tax burden? Are there any new opportunities for tax reduction you would like to explore?

Investment Review. Are you comfortable with your investments? Are your level of risk and investment return satisfactory?

Insurance Needs. Are you protected against the following personal risks?

• Disability income losses
• Medical care expenses
• Property and liability losses

Retirement Planning. Are you saving for your retirement needs? Are they adequate?

Estate Planning. Do you want to provide for your heirs? Do you have a will? Do you have advance directives for medical care and incapacity?