What does financial planning involve?

Planning around your finances is an ongoing process that lasts your lifetime. It may begin when you receive your first pay cheque, or when you take out a mortgage.
 
As you live your life, and opportunities and challenges present themselves, so your financial plan will need to be adapted and honed on a fairly consistent basis.
 
Financial planning while in Dubai will involve maximising the money you earn, saving and investing systematically for growth and stability, setting money aside for your long-term ambitions - like retirement, and sometimes just juggling your finances to meet all your expenses.
 
Financial planning needs are as unique as every person on the planet. A core part of financial planning is cash flow forecasting. That includes estimating the timing and amounts of cash inflows and outflows over a specific period. And cash flow forecasts can factor in different scenarios, to help you make the best decisions for your wealth at any given time.

For example, a cash flow plan for a retired person who has money saved and invested in pensions and funds might look at the tax implications of drawing different amounts annually. It could also look at whether it's more tax effective to deplete inheritance taxable assets first, leaving pension funds ‘til last.

Cash flow planning, or forecasting, is usually part of financial planning undertaken by a financial planning professional for anyone with more complex financial decisions to make.  The forecast is a financial illustration – that draws out your options, and the likely consequences of the decisions you could conceivably make.

Why is financial advice needed in Dubai?

As an international professional, financial planning has even more significance, since your circumstances are likely more complex. 

A professional financial planner in Dubai can help you work out your short, medium and long-term financial goals, determine whether they are achievable, and if so how. The end result is you create a plan to meet all of your goals. 

Without financial planning, how can you know where you want to get to, financially speaking – and how can you know what you need to do to get there? 

Preparing a financial plan is critical

Most people don't have to dig too far beneath the surface of their decision to move overseas to find a financial driving force.

Will you fritter away your salary? Or will you embrace the opportunity?

You need a plan…

Preparing a financial plan is critical to your short, medium and long-term financial well-being. it will help keep you on track to get (and keep) the life you want. And your financial well-being is central to your overall peace of mind.

Financial Advisors in Dubai