The first phrase that usually comes to mind when most people hear “financial planning” is insurance.
Well, it is absolutely nothing wrong with that.
Just that it is a very narrow view of the scope of financial planning.
The truth is financial planning encompass more than just insurance.
Insurance only represents wealth protection. Other aspects include:
· wealth accumulation (savings or investments);
· wealth preservation (minimizing taxes or refinancing of home loans); and
· wealth transfer (passing on your legacy via setting up of trusts or wills)
And the ultimate goal for financial planning can be distilled to two words:
Financial Freedom
Financial freedom comes in different forms to many people.
To some, it could mean retire comfortably or have achieved an ideal financial target.
To me, it means a state where I don’t have to worry about money.
A simple example to illustrate is back then when I was strapped for cash, I had to keep a tight budget and always watched out for what I ordered for my meals.
Now that I have more surplus cashflow, I generally order the food I crave without a second thought.
(I still have a certain threshold in terms of the price of the food choices if you think that I splurge incessantly on food.)
This is the biggest reason I’m dedicating my time and resources on this website.
To provide my clients, friends and you, the reader, valuable resources so you can cut short your road to financial freedom.
I hope that the resources provided here will be useful for you. Remember to sign up for the e-newsletters which I will update you on the latest trends and happenings in the financial planning world.
Let’s work towards our financial freedom goal together! 😊
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