Tax planning should be apart of your financial goal setting because you may realize some tax benefits that you would otherwise not be aware of. Tax planning may help find tax savings today!
Retirement planning is a very important part of planning today to prepare for tomorrow. Experts suggest that retirement planning should start when someone gets their very first job. If you develop the habit of saving some of every pay-check when you are young, but the time you are well into your career, saving and investing will not be a chore but just a habit.
Financial planning should help create the tools for you to develop a diversified portfolio. Diversification will help reduce the impact on your portfolio of a volatile market. Your financial plan should also show you how to properly allocate the assets within your portfolio. The effects of poor asset allocation on your portfolio can in some cases be devastating over time.
When developing your financial plan you should also take into consideration your personal time lines and your personal risk tolerance level.
Today would be a great day to start your financial planning.