By the end of this course you shall have covered the following 10 sessions.
Introduction to financial planning
- What is financial planning? Why is it important? What are the steps to achieving it?
- Avoiding the financial rat race
- Financial wellness assessment
- Financial wellness goals
- The personal financial planning journey
Developing a financial plan
- Tools to use, components of the plan, revising the plan
- Personal balance sheet
- Interpretation of the net worth statement
- Financial planning concepts
- Life stages and financial planning
Parts of the financial plan
- Shelter, education, retirement, holiday and business fund plan
- Setting SMART financial goals and achieving them
- Focus on short term, intermediate and long term goals
Cash flow management plan
- Shelter, education, Retirement, How do I convert an idea into a viable business?
- What are the various savings vehicles and how do they work?
- What are the investment arenas available? – Shares, unit trusts, forex, bitcoins, forex, land.
Savings and investment plan
- Investment concepts from goats to gold
- Getting more from the self
- Pools of accumulation how make more
- What is my shape for financial success?
- What is my SHAPE for financial success?
Investment Vehicles and Financial planning
- Using other people’s expertise in
- Unit trust
- Government Securities
- Choosing other experts
Consolidating the Financial Plan
- Investing in real estate
- Business as a source of income
- Where is the money for the business?
Risk Management in Financial Planning
- Healthcare – exercises, diet, regular tests- Medical insurance
- Records – Next of kin, Titles, Disclosures
- Perils on property – fire, blood, theft, property insurance
- Accidents – alternative source of income – accident insurance
- Wealth distribution – Estate planning – giving instructions
Sharpening the Saw for financial planning
- Improving financial planning education
- Record keeping
- Review the financial plans
- Putting together the comprehensive financial plan.
Executing the financial plan
- Implementation tools
- Measuring progress
- Upscaling and adjustments