There are seven stages in the process of financial planning:

Determine your present financial position. This includes your current income, expenses, assets and liabilities;

Identify and prioritise your financial goals and needs;

Analyse the financial hurdles which are stopping your from achieving your goals;

Obtain a investment risk profile to determine your tolerance for risk and investment volatility;

Prepare a financial plan which details the strategies required to achieve your goals;

Implementation of the financial plan once you are comfortable with the recommendations;

Regularly review the financial plan to ensure it remains on track and properly reflects your changing circumstances.

The provision of the above information is subject to the general disclaimer in the web site and the fact that the information provided is not substitute for professional advice. We disclaim all responsibility for full or partial reliance on the information provided. Obtain advice from your accountant or financial adviser before proceeding.