Five Strategies for Family Financial Planning

What is family finance?

Family finance refers to the analysis of the family’s financial situation, combined with the macroeconomic situation, to design a reasonable portfolio of assets and financial goals for the family. Family finance is also an economic activity that manages its own wealth and thus enhances the effectiveness of wealth.

The goal of family investment and financial management:

First, how to continuously create and accumulate family assets;

Second, how to successfully carry out assets transfer safety after a lifetime of hard work.

We usually call creating wealth, retaining wealth, and transferring wealth. From making money to me, I want to be rich all my life, and I will be rich for generations.

Five Strategies for Family Financial Planning

  1. Marriage plan: Two people work hard and do a happy financial planning together
  2. The education plan is mainly divided into two aspects, one is the child education plan. The other is the follow-up education plan of the couple.
  3. Buying a house and car plan, it means a lot of money is needed. The implementation of these two plans must be implemented according to the actual situation, and can be leveraged in an affordable situation, but it must be noted whether the income cash flow can completely cover the debt.
  4. Investment plan: When household savings slowly increase, we must consider maintaining value and increasing value. There are always some interest rates in the bank, but in addition to saving, there are many investment opportunities that are equally safe, with high yields, such as large deposit certificates and guaranteed wealth management. In the case of affordable risks, you can moderately participate in high-risk and high-yield investments, such as funds and stocks.
  5. Insurance plans, for the safety and stability of personal and family life, the plan of insurance plans is necessary, mainly to improve family risk prevention capabilities, and to play a role in transferring risks. Although insurance is expenditure in the short term, it has shifted risks in the long run, which can make the family wealth plan more durable and stable, so that the family wealth plan can be completed as expected.

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