Financial planning can help you to plan your spending, investments, and utilization of your fund to provide a stable economy, and also it helps you to achieve your short and long-term goals. Ed Rempel review is regarded as an industry expert on several investment strategies. He is especially skilled with the Smith Manoeuvre, a debt conversion strategy that converts a mortgage over time into a tax-deductible investment credit line, and the 8-Year GIS Strategy, which can help seniors qualify for larger government pensions with effective planning and investing. Ed Rempel CFP has helped thousands of Canadians become financially secure.s
Here are the types of financial planning’s.
Cash flow management:
Cash flow management defies the inflow and outflow of your funds that are important for your financial management. To achieve your financial goal in a faster way it is important for you to already create the requirements of your expenditures for your present and future. The main work of cash flow management is to keep a record of your income and expenses.
Investment management is mainly focused on your short and long-term goals and provides you the path to achieve those goals in a time-bound. Well, by investing in different investments you can build a sizable fund at different stages of your life. You can not get a large number of funds in a single go, so you need to plan accordingly.
Having insurance is very crucial for you and your family to get a safety net.
In case of any unfortunate events such as an accident or death, your insurance amount can provide backhand support to your family after you. There are various insurance plans that you can add to your life for your financial planning such as Life insurance, health insurance, home insurance, and vehicle insurance.
Tax management can provide you the management for your finances to pay the tax; also it helps in maximizing your real income.
Well, an investment planner or tax consultant can suggest you invest in various tax-saving instruments from government and private investment schemes.
Real estate investment:
The most common goal for most of the people in the world is to get a house of their own. But, buying a house need great planning and a big investment, so you can use the government tax exemption to get tax saving investment.
Real estate investment can provide you a stable future income for you and your family.
Retirement planning management:
“Planning is bringing the future into the present so that you can do something about it now,” said Alan Lakein, an American author on personal time management, including How to Get Control of Your Time and Your Life which has sold over 3 million copies.
Retirement planning can help you to secure your future after your retirement. Most of the parents do not want to lose their dignity and live at the mercy of their children, that’s why having a retirement plan can secure your future. But for that, you have to secure your retirement in advance, so that you can get a peaceful retirement without any worry about finances.
Children’s future plan:
When you have a child then it becomes your responsibility to provide them good life and security. As a parent, this is your role to give a stable career and prepare them against all odds and support them to ease their life when they grow up.