Many think financial planning is just the sale of mutual funds or insurance. To some, it means reducing the income tax that they pay. To others, it means getting a better return on their investments.
At Ron Graham & Associates, financial planning is what you do with your money. Every individual who has received money has had to make a decision about the best way to use it. Typically, the decision is either spend it now or save it to spend later. You have to make the same decision every time you receive money. Do you spend it now or save it to spend it later?
Financial planning is a process that you go through to find out where you are now financially, determine where you want to be in the future and what you are going to do to get there. Everybody does financial planning (some are just more successful at it than others).