Showing posts with label Financial Planner. Show all posts
Showing posts with label Financial Planner. Show all posts
Early Retirement is not Impossible
I am a Money Magnet! We are Money Magnets!
Sharing this article from BDO Private Bank Wealth Management Magazine called "So you Want to Retire Today?" It highlights some important factors to consider when we eventually decide to retire. It starts off with the line "Early retirement is not impossible. All you need is serious planning." True enough, everyone can retire early and be free from the corporate world as long as we are determined to plan for it. Read on to know more about things we need to consider for retirement.
by: Judith Juntilla
During the high-flying times of the financial markets in the Philippines in the early 90's, many newly minted Masters of the Universe were raking in six-digit salaries and swimming in bonuses and commissions. It was a good time to be a professional in the finance industry; the world was for the taking and nothing was impossible.
Even retiring before the age of 40.
Make Money Work For You - Financial Planners
Do you need a Financial Planner?
A financial planner is someone who can give you advice on matters relating to saving, investing, taxes, insurance, household money management, real property management and retirement.
If you are still in the Start-Up or Build Up Stage, it is better that you first understand the basic financial principles before hiring a financial planner.
A financial planner should be able to help you come up with the following:
- Prepare your Statement of Assets and Liabilities (SAL)
- Help you come up with a Budget
- Allocate your assets to ensure diversity
- Make sure that you have sufficient insurance for yourself, your family, and your properties.
- Keep your tax payments at the lowest cost within the law.
- Plan for your retirement and your children's education.
- Help you prepare legal documents to protect your financial interests while you are living
- Prepare a plan for your heirs in the event of your death.
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Getting a Financial Planner: What to expect
A financial planner is not a miracle worker. He can't guarantee you earning millions from your investments but he can provide you with the following:
1. Financial planning begins with financial education. A good financial planner will educate you with your financial status. (Educational Programming)
2. A financial planner can help identify risks in your current portfolio and help you build an insurance program to cover your risks. (Insurance Programming)
3. Emergency and Liquidity needs: Help you figure out how much money you'll need for emergencies with your current lifestyle.
4. Presents to you options where you can invest your savings. With his experience, he can give feedback on what has been working for others and which investments are safer or with less risk. He will help you develop your investment portfolio so that your money will be working for you. (Investment Programming)
5. Retirement Planning - Helps you develop a retirement plan so that you can retire comfortably when the time comes.
Having a financial planner is a lifetime relationship. A good financial planner has to be able to guide you all through your life through different economic times and changing markets. Therefore choose someone that you can trust and be comfortable with.
Also, a financial planner shows you your options, gives you feedback on what the different investments available, but in the end it is still YOU who will have to make the decisions.source: http://blogs.inquirer.net/moneysmarts/2008/07/22/video-what-financial-planners-should-do-for-you/
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