Sabse Important Plan

Financial planning and needs-based analysis are similar in that both require you to have a thorough understanding of your financial situation. Although they have significant overlap somewhat, they differ in some important ways and are used for different purposes. Comprehensive financial planning is a process that examines your entire financial situation in detail and then identifies strategies to

help meet your long-term goals. Needs-based analysis responds to specific concerns with product solutions, such as using life insurance to help replace household income in the case of the death of a breadwinner. A financial professional would determine, for example, what type of annuity would help you create the right income stream during retirement. Step #1: Identify Your Goals
Step #2: Understand Your Financial Situation
Step #3: Analyze and Review Your Results
Step #4: Discuss Your Recommendations
Step #5: Act on Your Recommendations*
Step #6: Review Your Progress**