Managing your finances to meet your day to day requirements as well as your long term goals can be a complex task. There are all sorts of issues you need to consider such as taxation, government legislation, protecting your wealth and assets, associated costs as well as the inherent risks of investment.
When undertaking a financial plan it is important that you understand how these issues will impact on you and what you should expect over time. There is no simple broad definition that can encompass all of the various components of a comprehensive financial plan. Depending where you are on your financial life journey your plan should take into account the following: