Posted on: 09 Nov, 20
Wealth is more than money. Managed the right way, it should be a tool that gets you closer to your goals, to serve you at di!erent stages of your life.
Cashflow modelling as part of the financial planning process is also vital if financial goals are to be achieved, such as repaying your mortgage, buying a holiday home, paying for school and university fees and being able to retire when you want to. It is also important that you have sufficient funds for emergencies to provide for unexpected expenses, such as a job loss or long-term illness.
Key to this is analysis based on your goals and desired future lifestyle. How much is enough money for every scenario? Can you a!ord to retire early and still live the life you want? What impact will choices made today have on your lifestyle in the future?
In order to develop your financial plan, you need clarity over your goals, your objectives and your motivations. Cashflow modelling illustrates what might happen to your finances in the future, and enables you to plan to ensure that you make the most of your money and achieve your financial objectives.
It’s about strategically using money to not only live your life but to create more income sources for yourself. Cashflow modelling enables you to become and remain financially well organised, determine your lifetime goals, create a lifetime cashflow plan and control tax liabilities. It focuses on where your money needs to go to fulfil your future goals...
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