Helping you have a Life Well Lived.

Cash flow planning establishes cash flow projections for upcoming months so you know how much you'll have in your bank account for your lifestyle. Taking the time for cash flow planning is smart financial management because it allows you to avoid or prepare for financial shortcomings.

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How do you prepare cash flow?

1. Start with the Opening Bank Balance.
2. Calculate the Cash Coming in (Sources of Cash).
3. Determine the Cash Going Out (Uses of Cash).
4. Subtract Uses of Cash (Step 3) from your Cash Balance (sum of Steps 1 and 2).

The term investment strategy refers to a set of principles designed to help an individual investor achieve their financial and investment goals. This plan is what guides an investor's decisions based on goals, risk tolerance, and future needs for capital.

What are Investment Strategies?‍

1. Passive and Active Strategies. The passive strategy involves buying and holding.
2. Growth Investing (Short-Term and Long-Term Investments).
3. Value Investing.
4. Income Investing.
5. Dividend Growth Investing.
6. Contrarian Investing.
7. Indexing.

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Personal risk is anything that exposes you to the risk of losing something of value. Usually, personal risk is associated with your financial investments and insurance. Especially when it comes to liability insurance, if you aren't insured properly, you could be sued and lose out on a lot.

There are 4 broad classes of risks we may come across. They are:

1. Income Risk.
2. Expense Risk.
3. Asset/Investment Risk.
4. Debit/Credit Risk.
5. Death.

Tax management refers to the management of finances, for the purpose of paying taxes. Tax Management deals with filing Returns in time, getting the accounts audited, deducting tax at source etc. Tax Management helps in avoiding paymentof interest, penalty and prosecution.

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There are 3 ways you can go about tax planning, but it primarily involves three basic methods:

1. Reducing your overall income.
2. Increasing your number of tax deductions throughout the year.
3. Taking advantage of certain tax credits.

Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law.

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5 Key Elements of a Good Estate Plan‍

1. A will is the first document you'll think of when preparing your Estate Plan.
2. Trusts are legal arrangements that hold assets on behalf of a beneficiary or beneficiaries.
3. Power of Attorney.
4. Health Care Directives.
5. Beneficiary Designations.

Retirement planning means preparing for a steady stream of money after retirement. It entails setting aside funds and investing specifically with that goal in mind. Your retirement strategy will depend on your final goal, income, and your age.

The goal of retirement planning is to achieve financial independence. The process of retirement planning aims to: Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire. Identify actions to improve readiness-to-retire.

Saving Matters!‍

1. Start saving, keep saving, and stick to.
2. Know your retirement needs.
3. Contribute to your employer's retirement.
4. Learn about your employer's pension plan.
5. Consider basic investment principles.
6. Don't touch your retirement savings.
7. Ask your employer to start a plan.
8. Put money into an Individual Retirement.

Is the way in which you will support the cause or charity that means something to you. You can do this by making periodic, or annual gifts, throughout your lifetime.

Whether you're donating money or time, giving promotes happiness, draws us closer to others, and strengthens empathy. These are vital for a wealthy life, which starts from the inside. After a certain point, more income doesn't increase well-being — but empathetically giving to others does.

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Advantages & Disadvantages of Charitable Giving‍

• Advantage: Tax Benefits.
• Advantage: Better-Informed Donors.
• Advantage: Family and Friends Benefits.
• Disadvantage: Initial Commitment.
• Disadvantage: Ongoing Effort.

The purpose of succession planning is to make sure a company always has the right leaders in place should a change happen quickly. By failing to create an orderly plan for succession, your company may not get a second chance if it doesn't adapt immediately after a key player leaves the company or passes away.

It's important to know that succession planning is about more than filling gaps or finding replacement candidates. Rather, the goal is to ensure a smooth transition. In preparing for growth, development, and transition, lay the foundation for an effective succession plan using the following targeted processes.

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Objectives of Succession Planning include:‍

• Identifying Successors for Key Positions.
• Leadership Development Opportunity is for Everybody.
• Identifying Successors is the Responsibility of Entire Executive Team.
• Executives are Key Talents of Your Company.
• Identified Successors Exhibit High Potential.