Financial Planning
DEFINITION
Financial planning is the process of creating a strategy to reach long-term measurable financial goals after carefully reviewing your current financial position.
ELI5
It is like making a money roadmap. You look at where you are now, decide where you want to go, and plan the steps to get there.
Other related terms
Medical Insurance
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Emergency Fund
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Loan-to-Value (LTV) limit
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Endowment Insurance
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