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(A sample generic A to Z
information seminar
outline I used for
free public education
seminars)
What
IS Financial Planning & How to Use It to YOUR
Advantage?
(Check
out Part 5 and Part 6
below before Part 7)
Part 1
- Introduction
- What is Financial Planning?
- Who Uses It? (Knowingly or Un-knowingly....)
- Corporations and businesses of all sizes and shapes
-Individuals
- high net worth people
- moderate income households
- meager income households
- How are Professionals Paid?
- Commissions
- Fees
- Combination
- Third Parties
- Other
- When are They Paid?
- Up front, on-going, and/or after the services
- Is Financial Planning Affordable?
- Do-it-yourself vs. using a professional & when
- It should pay for
itself if done right
Part 2
- Roadblocks to Financial Success
- Taxes
- Inflation
- Idle Assets
- Risk Management
- Human Problems
- Premature death
- Outliving your income
- Disability (short or long term)
- Procrastination
- Do-It-Yourselfers and/or Big Egos
- Media & so
called
"professionals"
at all levels
Part 3
- Goal Setting, Direction (The Whys)
- Taking Stock Process (Individual and/or Family/Household and/or business)
- Values system - living life and personal values
- Goals - short term, intermediate, and long term
- Receptivity of
clients with advisor
- Establishing the
Personal Values, the Goals, the Direction, the Motivation to Succeed
Part 4
- Types of Financial Planning
- Do-It-Yourself vs. Professionals
- Comprehensive Professionals vs. Specialists
- Specialists
by Category
- Banking
- Debt management/reduction/elimination
- Insurance
- Investments
- Real estate
- Retirement planning
- Estate planning
- Tax planning
- Specialists
by Client
- Corporate
- Small, medium or large sized business
- Individual households
- families
- women or men
- singles
- low, moderate or high income level
- super high net worth usually with a minimum
- Other
Part 5
- Comprehensive Financial Planning as Established by the College of Financial
Planning Reviews ALL of the Following - Individually and as a Whole Confidentially:
(called the "holistic approach")
- Current Position
- Life's direction
- emotional, spiritual and physical
- direction
- family
- personal
- Cash Reserves (usually 6-months
AT
LEAST
of expenses worth of
cash and NOT credit
cards or other easy
credit)
- Debt management
- Budgets that work
(i.e. my unique "Cash Flow Spending Plan Systems")
- Employment benefits review
- Net worth
- Risk Management
- Insurances vs. needs
- now vs. future
- health, age, other factors
- self-insure vs. transferring the risk to a third party
- over insured, under insured, right amount but wrong vehicle, correct amount
and correct vehicle
- Property & Casualty
- autos, motorcycles, campers, boats, vehicles,
&/or other
"toys"
- home owners &/or renters
- excess or umbrella
- business oriented
- Human
- health, dental, vision
- disability short or long term
- long term care
- life issues
- Other Purposes
- goal funding
- investments
- estate planning
- Investment Planning
- Three ways to earn a living
- can work for it
- can have dollars working for you ... intelligently
- multiply your efforts with others working for you
- Diversified vehicle(s) vs. all-eggs-in-one-basket
- define investment vehicle
- controlling vs. ownership vs. management
- type of vehicle(s)
- business(es)
- real estate
- stock market gambling
- other investments, collectibles, etc.
- Tax Management
- Before-tax dollars
- After-tax dollars
- Tax preparation
- Tax planning
- Tax Triangle
- Retirement Planning
- Successful retirements requires
- defining what is retirement for you
- when, where, how, why, how much is needed, etc.
- mental, spiritual, physical factors and needs
- unexpected is to be expected
- special planning
- implementation of the plan
- on-going monitoring or review and adjustments
- Estate Planning
- Values and goals desired
- self-directed vs. government dictated
- desires and/or needs for and/or of survivors
- charity giving
- how to decrease tax consequences now and in the future
- private vs. public knowledge
- Other considerations
- asset level
- two types of attorneys dealing with death & merits of each
- probate
- estate planners
Part 6
- How to Use This Information to YOUR Advantage
- Goal setting individually and with entire family or entire group
- not only finances
but all 7 areas of
life as money affects
ALL areas
individually AND
collectively
- Establish value systems and who will do what and when
- Decide on needs (physical, emotional, spiritual, business, other, etc.)
- short term jump start vs. on-going retainers
- comprehensive vs. specialists assistance
- perhaps one comprehensive professional
- multiple specialists as needed
under direction of
comprehensive
professional
- establish benchmarks for progress
- Obtain necessary education
- Improve or maintain good health (physical, mental, spiritual)
- Visualize the "whys" to increase drive, seriousness, and personal
motivation
- Be resourceful. Get all the facts, think, make a decision and then act on it
- use available free public information including the internet, libraries, etc.
- interview several professionals and check references before choosing/hiring
- 80 % of their practice should be in the area you need assistance with
- how's the "chemistry"? Can you work together?
- Monitor progress making adjustments as needed. Be Persistent.
Part 7 - Time to Smell The Roses ... AND ... live life more abundantly!
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