Financial Planning Research Paper

1. Describe two examples of important things that financial planning skills can help you do, and explain why

Daily economic activities have an important influence on personal financial planning. In our society, the forces of supply and demand play an important role in setting prices. Economics is the study of how wealth is created and distributed. By doing my research, I found that each economic situation would affect me at a personal level.

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

VII. Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.

The wealth management or financial planning professions provide financial planning services and investment advice to clients for high net profit. The essential goal of any financial profession is to sustain and increase the long-term wealth of their clients. Since they manage huge amount of money for other people, they must also be ethical, trustworthy and free of any criminal record involving robbery, fraud or intentional mismanagement. Thus, they should understand complex financial documents, financial regulations and legal restrictions, not only good command of investments and financial planning.

This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property.

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

In the article, Advisors Involved in Financial Planning, authors Mendlowitz and Kess talks about how financial advisors are people oriented and want what is best for their clients. The authors prove that the difficulty of the financial advising processes is typically overlooked by others by stating, “The different kinds of financial advisors and their role in the overall financial planning process is difficult” (Pg.66). Many might think that financial advisors have an easy job, but there is more to it than telling people to save small amounts of money here and there. Advisors must go through several specific steps to figure out the exact amounts their clients must save. The author of this article talks about situations that a financial advisor might go through as well as how the advisor should

Affiliations with organizations like the Financial Planning Association have given attorney Andrew M Wyatt a leg up on his peers in California. The Financial Planning Association is an advocacy group that works with consumer interest organizations and financial services firms. The group, which is based out of Denver, also gives assistance to academic leaders, regulatory bodies, and state legislators. In 2000, the Institute of Certified Financial Planners and the International Association for Financial Planning merged to create the Financial Planning Association. Every goal that the FPA sets forth is related to the desire for better financial planning awareness and education,

I believe by having a plan in place and knowing exactly how much I need to save each day, week, month, etc. will help me to successful reach my savings goals.

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

Saving and planning for the future is an important task that every individual should plan for. However, many times individuals feel overwhelmed, and anxious about how it is possible to survive and plan for the future. The Bible gives us good insight into how we should plan and manage our finances that pleases the Lord. 2 Corinthians 9:6 states “Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.” It is possible to save for the future while at the same time pleasing the Lord.

     As and investor, you are overwhelmed with advice in newspapers, magazines, and mailings discussing what to invest in for a successful retirement nest egg, when to start saving for retirement and who to invest with. There are millions of people who realize that an investment portfolio for retirement is necessary, but do they really understand the investment instruments and the amount they must invest for tomorrow? The subject of retirement is a fascinating area but it also could be a fuzzy subject without the correct amount of knowledge, understanding and professional guidance. The number one question of concern for individuals facing retirement issues is whether or not they