Personal Finance

Q&A: What is comprehensive financial planning?

Comprehensive financial planning considers every aspect of someone’s financial situation: budgeting, balance sheet, investments, retirement planning, estate planning, taxes, insurance, and education planning.

Pro Tip: Many “financial advisors” are more like a salesman than they are a financial planner, being that their main job is to bring in more clients while only offering help with a few of the areas mentioned above (or even just investments); most don’t have the training/ability to be able to help with all of them. Before entering into an agreement with anyone, know the details: what you’re receiving, how much you’re paying, who you’re working with, and how the process will go. Get opinions from other professionals in the field, as well.

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