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Simple Financial Planning PDF Print E-mail
Written by Wilfred Ling   

Simple Financial Planning covers some aspect of financial planning. The following is a comparison between Simple Financial Planning and Comprehensive Financial Planning:

 SimpleComprehensive
Understanding your goals Yes
Tabulating the cash flow and balance sheet statements Yes
Credit management (e.g. debt / mortgage) Yes
Insurance Planning   
 - Needs Analysis using simple method Yes  
 - Needs Analysis using discount model Yes
 - Includes analysis up to 4 existing life policiesYes 
 - Includes analysis up to unlimited existing life policies Yes
Education planning   Yes
Retirement planning   Yes
Investment Planning  
 - Wholistic planning based on client's entire assets Yes
Tax planning Yes
Estate planning 
 - Wills Yes
 - Testamentary trusts Yes
 - Inter vivos trusts Yes
 - Statutory trusts Yes
 - Asset Protection Yes
Financial Report  
    - Summary in point formYes 
    - Detailed, adheres to the ChFC standard Yes

Unlike Comprehensive Financial Planning, no formal written plan will be provided. However, a brief summary of discussion is provided.

The Simple Financial Planning is only meant for those who are

  • Singles with no dependents; and
  • New graduates. 

Simple Financial Planning may not be suitable for those whose careers are already established, married with older children, high networth individuals and retirees. 

If you are keen on Simple Financial Planning, you can contact us at this link HERE.
 
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