Financial planning

Financial planning and investment pursue two main goals: financial well-being and throughout life.

Goals could be short-term, medium-term and long-term.

Short-term goals (less than a year) - to solve your current financial situation. You can achieve it by balancing your income and expenses.

Medium-term goals (1-10 years) - to solve financial problems related to major purchases (cars, real estate, etc.). You can achieve it through learning how to form savings.

Long-term goals (more than 10 years) - to form savings that are enough to establish your financial health and independence.

To effectively achieve your goals, it is important to clearly define them.

Goals can be different just as your financial preferences can change throughout your life. But the idea here is that while you are in your working age you should manage and invest your financial assets wisely so that they can support you when you are old.

So the goal is for a person to have formed their own flow of passive income or a retirement fund.