How to Build and Maintain a Personal Financial Plan

Overview:

Formerly (How to Prepare a Personal Financial Plan) 
 
Long before a decision is made of what insurance product to buy or what stock or fund to purchase, a financial plan is required for every Canadian to address goals such as retirement, putting the kids through school, paying off a mortgage or buying a new car. In this full-day course presented over two days, you will delve into the world of personal finance, and learn about personal financial planning and how to prepare your own financial plan. You will learn about the different planning areas, how to combine them into one overall plan, manage cash flow, determine priorities, decide among trade offs and how to update the plan over time as people change.  
 
Whether you are preparing your own financial plan or you are a paid advisor preparing plans for others in your practice, this course offered by a Certified Financial Planner with 25 years of experience will teach you the basics of managing your own finances by thoroughly reviewing all the different planning areas. 

Course Content:

In this course, you will gain knowledge about the following topics:

• Prioritizing financial goals, costing goals and determining trade-offs you may need to make
• How much savings is needed for retirement, children’s education costs and real estate purchases
• How to design income after retirement and make it last for life
• Tax planning strategies for income and assets including tax smart investing techniques
• Essential will and estate planning tips; valuable stories about designing an estate and how to manage an estate after death of a loved one
• “Ins and Outs” of life, disability and critical illness insurance: how much, how long and what to watch out for
• Saving for children’s educations – all about RESPs, in trust for accounts and more
• How much debt is too much and the best ways to tackle debt over time
• Real estate planning – first home purchases, upsizing, rental properties and downsizing
• Core investment planning strategies to build a common sense RRSP, TFSA, RESP and personal investment portfolio
• Education about various product types, fees, risk levels and questions to ask your financial advisor
• Understanding different types of advisors and product limitations, how money is protected by the dealer, potential biases and fee options
• Examining tools to use to create your own financial plan package or sell one to others 

Who Will Benefit: 

• Those who want to better manage household finances or want a second opinion on what current advisors are doing
• Family members looking to assist aging parents with their financial management or help children get started learning about finances
• Professionals seeking to provide financial plans to their clients 

Testimonials:

This course taught me some very important things to think about that haven’t been on my radar at all. I feel like I now have the knowledge and skills to set up a plan for my family and help my extended family with theirs as well.  Lindsey