Terminology - Financial Planning

Terms  Financial planning
Financial Planning / Life Cycle Plan

Financial plan also known as life cycle plan takes your financial situation, your future financial requirements based on the your family life style, your expected growth in income levels and a view on the general economic conditions into account and project estimates of certain future financial needs.

Then the financial plan also provides investments goals to meet those needs.

The ways to meet goals when you are there & when you are not there also mentioned in the plan.
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