Posted: May 1st, 2022

Research the key elements of developing a financial plan

Developing your Financial Plan: Research the key elements of developing a financial plan. Incorporate these key elements into a four – five page summary of your personal financial goals. Your plan should include short, medium and long term goals, budget and cost considerations and values. Please ensure you include elements of a financial plan from the previous units in this class.

Note: The focus should be building a sound financial plan but you do not need to include or share personal financial details within your specific goals. For example – you could state a goal of saving 10% of your income for retirement versus stating you set a goal to save $7k per year or 10% of your income. I don’t need to know the actual numbers that pertain to your situation.

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Creating a Financial Plan: Learn about the important components of creating a financial plan. Make a four- to five-page overview of your personal financial goals using these important features. Short, medium, and long-term goals, as well as budget and cost considerations and values, should all be included in your strategy. Please remember to incorporate parts of a financial plan from prior sections in this course.

Note that while the emphasis should be on developing a strong financial plan, you do not need to include or reveal personal financial information in your specific goals. For example, instead of mentioning that you established a goal to save $7k per year or 10% of your income for retirement, you could state that you set a goal to save 10% of your income. I don’t need to know the precise figures.

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