8. Our Mindset and Money
• Temperaments
Sanguines
Cholerics
Melancholics
Phlegmatics
• Money Personalities
• Family background
• Parkinson's Law
• Financial Literacy
9. What is Personal Financial Planning?
• Cash flow planning
• Ensuring cash is available where needed when
needed
• Creating order out of financial chaos
• Deliberate continuous capital accumulation
and conservation to accomplish objectives
• Series of coordinated plans on investment,
education, retirement, tax, and risk
management
10. Why Personal Financial Planning?
• Tool to help achieve realistic personal goals
with resources available
• Road map on savings and spending with
future in mind.
• Way of reducing stress and uncertainty in ones
financial life
• Taking control to avoid debt burdens and
dependency on others
• Attaining marital bliss by planning together
11. Pillars of a Personal Financial Plan
• Establishing the current financial position
• Setting SMART Personal Financial Goals
• Effective Money Management Strategies
• Goal oriented Investing
• Risk Management
• Implementation and Plan Review
18. Managing Personal Finances
• Paying yourself first
• Spending and Savings Plans
• Shopping smart
• Taking advantage of tax laws
• Controlling debts
19. What about OPM?
• Good debts
– Money borrowed for investment in appreciating
assets or for creating value with potential for
future income
• Bad debts
– Money borrowed and put where there is no
potential for a return or future value
20. What pushes people into debt?
• Social pressure
• Living beyond means
• Lack of self discipline
• Bad buying habits
• Emergencies
• Lack of financial knowledge
21. A personal investment plan
1. Five Money Trees – Goal oriented
2. The unholy trinity
3. Pools of Accumulation
4. Working with experts
5. Real Estate
6. Business
24. Personal Financial Plan
• Personal info
• Plan Overview
• Financial Goals
• Cash management plan
• Investment Plan
• College and Education plan
• Retirement Plan
• Insurance Plan
• Estate Plan
• Recommendations
25. Learning sources
• Level – CFP, Dip, Cert or working knowledge?
• College of Financial Planning – www.cffp.edu
• CII
• Loma – www.loma.org
• Wealth Creation Master Class
