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Chapter 1. Financial Planning: An Overvi... > What is Personal Financial Planning?

What is Personal Financial Planning?

Personal financial planning is nothing more than the development and implementation of a comprehensive plan to help a person achieve some specific financial goals. The idea is to focus on these goals as the starting point in a financial planning process.

In the planning process, an individual's financial affairs (i.e., investments, savings programs, insurance, retirement plans, estate plan, and so forth) should be considered as a coordinated whole, rather than on a piecemeal basis. Most financially secure people use a variety of financial instruments to achieve their goals and objectives.


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