Benefits of Financial Planning

Despite proven advantages of financial planning for retirement, the majority of Canadians don't have a financial plan for their future, according to an HSBC survey. According to their global study, 65% of Canadian respondents lack a financial plan, far more than the global figure of 50%. According to their study, those who have sought out advice and planned have amassed nearly 2 1/2 times more capital in their retirement plans compared to non-planners. Other features and benefits enjoyed by planners are a more diversified portfolio along with peace-of-mind and a positive outlook.

Here are some steps you can take:
1. Establish some clear short-term and long-term goals;
2. Benchmark yourself; are you on-track to meet your goals?
3. Develop a comprehensive financial plan;
4. Implement the plan;
5. Keep your plan under review.

GB