Imagine waking up in the morning and getting a notification to say you are left 24hrs to live. Most of us would go into full panic mode not sure where to start. In such short notice, you can imagine the questions that rush through your brain, like have I done all the important things, what can I achieve or have ticked off all the things on your bucket list (if you already have one).

Sadly, the average person will leave their financial planning last and how their finances are to be handled in their absence.

So how can you get yourself ahead of the game?

Financial planning involves a lot more than just polices and a will. In contains your whole financial life story and how you and the people around you can live a financially sound lifestyle. The main aspects are:

  1. Risk planning – Death, disability, income protection, severe illness…
  2. Retirement planning – pre and post retirement
  3. Investment planning – Goal specific and wealth generation
  4. Estate planning – Will drafting, estate liquidity
  5. Budgeting – income and expenses

All our situations are unique and some of these aspects might not apply depending on which stage in life we are. Ensuring that our family and financial dependents are taken care of should always be top priority, therefore it is important that we make sure that all our affairs are always in order, living each day as if it were our last.