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Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
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Summary

Simply put, a financial planner is someone who helps you set and meet your financial goals.

What Is A Financial Planner?

A financial planner helps people meet their financial goals by:

  • Helping you define your overall goals.
  • Identifying the resources you have available to meet your goals.
  • Developing and implementing a plan to reach those goals.
  • Monitoring your progress toward your goals.
  • Re-evaluating your plan and your goals when necessary.

People who specialize in selling investments and/or insurance often call themselves "financial planners." Both investments and insurance are key parts of a financial plan. However, unless those individuals take a comprehensive, coordinated approach to improving your financial health -- analysing how all the pieces of your financial life fit together -- they are not likely to meet the definition of the type of financial planner most likely to satisfy your needs.

What Financial Planners Do?

Financial planners assist with all aspect of your finances. They do this by:

  • Taking a financial snapshot of your current circumstances. This often includes preparation of a Net Worth Statement and a Cash Flow Statement.
  • Determining what could happen to your income and expenses because of your health condition.
  • What would happen to your assets and income if you became disabled.
  • Provide options for managing your finances.
  • Help you manage your cash and set a budget.
  • Identify your options for meeting your financial goals.
  • Help you manage your debt to minimize interest expenses and preserve your credit.
  • Guide you through the creation of an estate plan, including estate tax planning. Financial Planners can also help you with a Living Wills and Advance Directives.
  • Help you find additional professional help if needed - including lawyers, accountants, and insurance brokers. Financial planners also help you prepare for a meeting with these other professionals which can save time with a professional which also means saving you money.

Financial planners usually do NOT: