Investment Portfolio Defined

Investment Portfolio Defined

Investment Portfolio

Investment Portfolio- Diversified Portfolio

Starting an investment?  What is an investment portfolio anyway? By definition, an investment portfolio is “a collection of financial assets such as stocks, bonds, property and cash”. An Investment Portfolio may be held by individual investors and/or managed by financial experts, hedge funds, banks and other financial institutions”.
Having a good diversified investment portfolio is something that everyone, who does any kind of investing, needs. Diversifying your investments is a good idea, especially in the event that one area of your investments takes a loss. By focusing your investments in only one area of the market, you are more prone to run into a larger loss if that part of the market does poorly during a given time period. By diversifying your investments, the profitable investments can make up for the poor ones. This allows you to weather out tough times as they say.

Investment Portfolio- How to have a Diversified Portfolio

Diversified Investment Portfolio

One of the most important principles followed by most investors is Diversification.  Diversification is a method used by investors to combine a number of investments together to reduce investment risk. Listed below are several types of investment diversification.
Asset diversification- this type of diversification is where investment is grouped in asset classes. These asset classes vary but they typically consist of the following

• Cash or money market
• Bonds or fixed interest
• Equities i.e. company shares or stocks
• Alternative funds e.g. real estate, commodities, and hedge funds.

Geographical diversification- Assets differ greatly depending on their current location. This is due to the fact that every country has different factors affecting their current state such as currency, economy or industrial development.
Sector diversification and number of holdings-Market trends and conditions often favor one sector over the other.  Market trends affects and differ from country to country, it is a good idea to watch which sector is doing well on the particular country.
Time diversification- A simple way to reduce risk is to invest for the long term. Taking a long term view allows your investment more time to grow and possibly make up for any short term fluctuations.
Alternative investments- Alternative investments have become more readily available. Typically these funds try to provide positive returns regardless of market direction; these include

• Real estate
• Commodities
• Absolute returns funds – including hedge funds
• Long/short funds

Investment Portfolio- Benefits of Having a Diversified Portfolio

It is difficult to predict which asset classes, sectors or geographies will perform well. Diversification is a key tool in managing investment risk. Choosing the right spread of investments to create a diversified portfolio will help to reduce risk yet also increase the chance of exposure to investment gains.  Wise investors spread their investments to lessen the effects of any poor performance of one part of their investment portfolio.

Term Insurance in Dubai

Term Insurance in Dubai

Understanding your insurance needs

Every individual is distinct. Even identical twins have their own distinct characteristic that tells them apart. The same goes with every person. Our profile, money-wise, is different. Choosing the right life insurance policy is an individual choice based on personalized individual factors.
The right insurance policy for me may not be the right terms for you. This is why choosing the right insurance policy will involve evaluating the different types of life insurance policy available and seeing which one fits your requirements. The majority of us have to think in terms of acquiring the life insurance policy that matches our financial capabilities.

Differentiating Your Insurance Policy

If you are planning to buy an insurance policy for yourself, there are several things you need to consider. Insurance providers charge you premiums based on your health and age.
There are several types of life insurance policies where we can take advantage of. They are the whole term life insurance policy, the mortgage insurance policy, the health insurance policy, the universal life insurance policy and many more.
Term insurance is a life insurance policy that pays out a specific amount when the insurance policy owner dies or becomes terminally ill. It provides ease of mind to the insurance policyholder knowing that their loved ones, after their death, will be financially secure.
Mortgage insurance is an insurance policy protecting lenders from the potential default of borrowers. This is an insurance policy which compensates lenders or investors for losses due to the failure of payment.
Health insurance policy is insurance against the risk of incurring medical expenses among individuals
Universal life insurance policy is a type of permanent life insurance based on a cash value.
Choosing the right policy involves evaluating the diverse types of life insurance policy available and seeing which one fits your requirements. Understanding these types of Life Insurance Policy can help you decide which one corresponds to your financial status and needs.

Is It the Right Insurance Policy for Me?

Term Insurance Plan

Term insurance also known as short-term insurance coverage, are insurance policy you renew after expiry. Term Insurance covers a specific period of time – normally the policy will run for periods of 5, 10, and 20 years.
Most term insurance policy providers offer insurance protection that covers up to the age of 100. Insurance policy providers charge you based on your health and age. Term insurance is basically a security measure that you provide to your loved ones whom you leave behind.
When you buy a life insurance policy to cover you for only a certain number of years, the insurance policy provider offer you different types of payment options to pay your coverage. So how long should your term insurance policy be? Your health status and age needs to be taken into account when choosing the right term insurance policy.
If you are near retirement and is expecting to have a huge retirement fund, then short term insurance policy is more appropriate for you. When you are evaluating a term life insurance policy, you have to take into consideration who you will be helping with the plan itself and their needs. Looking into different options for term life insurance can help to ensure that you are receiving the best term insurance policy for your money.

Financial Advisors in Dubai - Do you really need them?

Financial Advisors in Dubai - Do you really need them?

Financial Advisors in Dubai

Many expats in Dubai arrive here with great plans for a better lifestyle and higher standard of living. In fact many of

Financial Advisors Dubai

them get the lifestyle they are after, and enjoy it so much that they forget that need to plan their finances and goals for the long term.
There are a number of financial advisors in Dubai who can be consulted to help you plan your finances.
Good financial advisors are the ones who are not affiliated with any particular provider. They should not have a vested interest in pushing a particular provider’s products to you. On the contrary they should act on your behalf and choose products that best suits your needs.
Obviously this can only happen if the independent financial advisors are affiliated with a broker and not providers directly.
So it is in your interest to confirm this fact prior to meeting with them. The other advantage of dealing with independent financial advisors as opposed to bank representatives who offer the same products is – independent financial advisors almost always do a comprehensive analysis of your personal financial situation as compared to a bank representatives who just ask you if you need their insurance and/or savings products.

What can Independent Financial Advisors do for you?

Generally independent financial advisors don’t charge for their services in Dubai. Also there is absolutely no obligation on your part to make any kind of buying decision at any time if you don’t want to.
Good independent financial advisors will meet you twice -

1. In the first meeting, they will explain the concept of financial planning which revolves around the four quadrants i.e. Family Welfare and Protection, Retirement Planning, Children’s Education and Lifetime Goals and Aspirations.
2. They also help you identify your goals, commitments and priorities during this meeting and highlight any problems with your current financial situation.
3. If you agree that you need help with any particular area in your current financial situation, they will aim to provide you a solution in the second meeting.
4. Prior to the second meeting, the independent financial advisors search the market on your behalf for a financial solution, customized around your personal financial situation and budget.
5. During the second meeting they presents to you the solution which according to their experience is best for you.
6. It is only at this time that you make a decision whether to take action or not without any obligations whatsoever.

Review Meetings with Independent Financial Advisors

Good independent financial advisors will regularly meet you at least twice a year to review the performance of the financial solution they provided you. If you have purchased a protection plan through them, the independent financial advisors will meet you probably every six months to ensure that your protection needs haven’t changed.
If you have purchased a savings or investment plan, the independent financial advisors will meet you every six months to ensure that your investment plan is performing at the rate you want. If not he will suggest appropriate actions such as fund switching to keep you in line with your targets.

Organizational support and Customer Service

Organizational support and after-sales customer service is very important when choosing independent financial advisors for your financial needs. Good independent financial advisors will have a solid brokerage organization supporting them in the background to ensure you get the best service even if they leave the organization.

Pension Retirement Plans Dubai

Pension Retirement Plans Dubai

Pension Retirement Plans

One of the realities of life is that, at some point, everyone has to stop working and retire. For some, this is a golden opportunity to enjoy their golden age and do things they couldn’t do while they were busy working and raising a family.
For others, however, having no pension retirement plan prepared can be a very scary prospect, with no more work and expenses continuing to increase. Even though work stops, the truth is that life doesn’t.

Factors to consider – Pension Retirement Plans

The most important factor in planning out your retirement income is to plan ahead- the sooner you start to plan, the better. When you are in the prime of your career where you are receiving a steady income, you should begin to put money aside to have a source of income when you retire.
This can be done by diversifying your sources of income – small investments that yields income will eventually add up when you retire to provide you with a comfortable living.  If you are frugal you may find that your retirement income is actually more than enough to live by.

Choosing Pension Retirement Plans

Pension retirement plans are very important in the retirement planing process and are viewed, wrongly by many, to be the sole means to achieve an appropriate sustainable income in retirement.
There are several ways to back-up your pension retirement plans and in doing so, it is feasible to have a more financial security.

1. Begin Saving Now! The earlier a Pension retirement plans is looked into the better. It is much better to start one at twenty than it is at forty. The longer you save, the more you will receive when you retire.
2. How much must I put in? The simple answer is as much as you can afford. However, it is worth bearing in mind additional forms of savings for retirement, such as investing in stocks and shares.

Managing our funds and having personal stability is definitely an essential matter for a number of us. When we spend so much time trying to earn money, its good to know that our income is working hard for us too.
Probably the most vital factor in our wealth management that requires necessary consideration is our Pension Retirement Plans. After a lifetime of non-stop work to earn income, we want to have the assurance that we can relax in our retirement with enough funds to take full advantage of it.
There are a number of pension schemes available to help us to do this. It is good idea to seek financial advice on  Pension Retirement Plans that are suited to our financial needs.

What is Life Insurance

What is Life Insurance?

Life insurance is a contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money (the “benefits”) upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. In return, the policy holder agrees to pay a stipulated amount (the “premium”) at regular intervals or in lump sums. In some countries, death expenses such as funerals are included in the premium.

Buying life insurance may be one of the most important decisions you’ll ever make. In the event of a tragedy, the assured payout can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.

What is life insurance anyway?

‘Life Insurance is like a parachute. You buy it when you don’t need it, because when you need it, you can’t get it !!!’

There are a few variations of life insurance policy. In this article, we will try to further understand what is life insurance all about.

• Term Life insurance-The most popular type of life insurance policy is called Term Life Insurance. The term life insurance provides coverage for a specific and stated period of time. This type of life insurance is a very popular choice for a policy because it can be purchased for an inexpensive premium. The way this insurance works is that you are covered by the policy for the time period specified.

• Whole life insurance polices, on the other hand,  are attached to a cash value system where part of the regular contributions are invested in funds of your choice and grow with time. If the cash value is high enough to sustain the policy, it can be used to pay the premiums.

Education Plan - Dos and Don't s

Education Plan – Dos and Don’t s

When doing finan­cial plan­ning, one of the most impor­tant top­ics of dis­cus­sion is how to create the right education plan for your child..

Education plan - Dos and Don'ts

The cost of edu­ca­tion is on the rise, advanc­ing far in excess of the infla­tion rate. There­fore, it is essen­tial to plan for the future by starting an education plan for your children as soon as possible.
As a par­ent of a naughty 4-year old, the first thing I did when he was born was to start an education plan to help me save for the higher education fees that I would have to bear around 18-20 years later.
I started the education plan with the pur­pose of having a dis­ci­plined monthly com­mit­ment – an assur­ance, that by the time my son is of ter­tiary edu­ca­tion age, there will be a sum ready for him to pur­sue fur­ther stud­ies, whether locally or overseas.

When to start your child’s education plan

Some may ask how soon they should start the plan­ning process. The sim­ple answer is as soon as pos­si­ble.
Starting an edu­ca­tion plan­ involves an invest­ment strat­egy that specif­i­cally addresses the edu­ca­tional needs of your chil­dren. It’s impor­tant to start sav­ing early to reduce the funds required by tak­ing advan­tage of the power of com­pound­ing over time.

Important Factors to consider when starting your child’s education plan

Plan ahead when starting an education plan
Designing the right edu­ca­tion plan­ is a long-drawn process; the time period could range from 15 to 20 years. Start to pri­ori­tise your finances early to give your­self a head-­start. This allows you to ben­e­fit from the com­pound­ing effect of money and the flex­i­bil­ity to change course accord­ing to your lifestyle changes.
Your invest­ments will also ride out the volatil­ity of dif­fer­ent mar­ket cycles over a longer period.For exam­ple, my wife and I started our son’s edu­ca­tion plan even before the birth of our son, and we worked out the finances and the amount that would be needed to fund his future edu­ca­tion. We took into con­sid­er­a­tion whether we wanted a local or over­seas education. We had to rework our pri­or­i­ties and expenses to cater for this change.
Invest­ment options for your education plan.
One of the most pop­u­lar choices among young parents is to buy an endow­ment education plan. This is a prod­uct that cov­ers two objec­tives – sav­ings and pro­tec­tion.
For exam­ple, a 30-year-old par­ent plans to buy a 20-year edu­ca­tion plan for his new­born baby boy. His monthly pre­mium of about $450 (for sum assured of $100,000) would poten­tially bring him an approx­i­mate pol­icy matu­rity value of $200,000. Even if this par­ent is to just set aside $100 each month towards such a plan for 20 years, it is likely to gen­er­ate a pol­icy matu­rity value of approx­i­mately $40,000 – enough to cover tuition fees in a local university.
On the other hand, par­ents who are savvy with finances will con­sider starting an education plan that par­tic­i­pat­es in the equity mar­ket for a poten­tially higher upside. Some will go for high div­i­dend stock while oth­ers look to cap­i­tal growth. Regular savings plans with offshore funds can cater to those who wish to par­tic­i­pate in the mar­ket with­out hav­ing to actively man­age the port­fo­lio.
Cou­pled with a protection/savings and invest­ment strat­egy, this can be an ideal choice for par­ents to achieve their goals. There­fore, early plan­ning pro­vides flex­i­bil­ity and the oppor­tu­nity to opti­mise risk return on the strat­egy cho­sen. We chose a savings/protection education plan while putting aside funds to invest reg­u­larly in the mar­ket in a few hand-picked high-dividend stocks.
Protect your education plan.
Many couples overlook the protection aspect when starting their child’s education plan. Life is about eventualities and risk. The risk of dying to soon and leaving your family to fend for themselves and the risk of living too long and having to save for your expenses. While the savings education plan takes care of the ‘living too long problem’, parents should take out a separate term insurance that ensures that their children can have the best education even if they are not around or die too soon for any reason.
Being dis­ci­plined with the education plan.
Not every fam­ily can afford to invest a lump sum to finance a child’s edu­ca­tion years down the road. There­fore, hav­ing the dis­ci­pline to save on a monthly basis, often through a reg­u­lar savings/investment plan, is a good strat­egy to begin with. Stay focused as it is often easy to find excuses to dip into the sav­ings if you do not have a ded­i­cated account or strategy.
There is a sense of com­fort and peace of mind know­ing that children can secure their pre­ferred edu­ca­tion choices down the road. All it takes is early plan­ning, a com­fort­able and real­is­tic sav­ings and invest­ment strat­egy, and more impor­tantly, dis­ci­pline in keep­ing to the finan­cial com­mit­ments set aside for the edu­ca­tion plan.

Pension Retirement Plans Dubai

Pension Retirement Plans Dubai

Pension Retirement Plans

One of the realities of life is that, at some point, everyone has to stop working and retire. For some, this is a golden opportunity to enjoy their golden age and do things they couldn’t do while they were busy working and raising a family.
For others, however, having no pension retirement plan prepared can be a very scary prospect, with no more work and expenses continuing to increase. Even though work stops, the truth is that life doesn’t.

Factors to consider – Pension Retirement Plans

The most important factor in planning out your retirement income is to plan ahead- the sooner you start to plan, the better. When you are in the prime of your career where you are receiving a steady income, you should begin to put money aside to have a source of income when you retire.
This can be done by diversifying your sources of income – small investments that yields income will eventually add up when you retire to provide you with a comfortable living.  If you are frugal you may find that your retirement income is actually more than enough to live by.

Choosing Pension Retirement Plans

Pension retirement plans are very important in the retirement planing process and are viewed, wrongly by many, to be the sole means to achieve an appropriate sustainable income in retirement.
There are several ways to back-up your pension retirement plans and in doing so, it is feasible to have a more financial security.

1. Begin Saving Now! The earlier a Pension retirement plans is looked into the better. It is much better to start one at twenty than it is at forty. The longer you save, the more you will receive when you retire.
2. How much must I put in? The simple answer is as much as you can afford. However, it is worth bearing in mind additional forms of savings for retirement, such as investing in stocks and shares.

Managing our funds and having personal stability is definitely an essential matter for a number of us. When we spend so much time trying to earn money, its good to know that our income is working hard for us too.
Probably the most vital factor in our wealth management that requires necessary consideration is our Pension Retirement Plans. After a lifetime of non-stop work to earn income, we want to have the assurance that we can relax in our retirement with enough funds to take full advantage of it.
There are a number of pension schemes available to help us to do this. It is good idea to seek financial advice on  Pension Retirement Plans that are suited to our financial needs.

Car Insurance in Dubai

Car Insurance in Dubai

So !!! your car insurance is about to expire, and it is that time of the year when you dread going out to shop for car insurance.

Car Insurance in Dubai

You want the best value for money but don’t have the patience to shop for the best car insurance in Dubai. Finding the best car insurance in Dubai is not easy.

There are lots of insurance providers who offer car insurance in Dubai, but how how do you know which offer is the best for you?

Car Insurance in Dubai – The Problem

• How do you know who is the cheapest car insurance provider?
• How many providers do you need to get a quote from to get a fair comparison?
• How many providers will you approach for a quote before you get fed up?
• Will you get a volume discount when you are only getting quotes for one car? Obviously not.
• Who will help you judge which car insurance quote is the best value-for-money?
• Are the benefits offered the same?
• Is there a no-claims discount possible?
• Is off-road cover important and/or necessary?
• Is Oman and/or GCC coverage required?
• Are events such as storms, flood, riots and civil commotion covered? Are they important?
• Who can offer impartial advice for free?

Finding the best car insurance in Dubai isn’t difficult anymore.

Car Insurance in Dubai – The Solution

Car Insurance in Dubai – Benefits of dealing with a broker

• As Independent insurance brokers we represent you as a client, not the car insurance companies.
• We are the biggest insurance brokerage in the region with huge volume discounts with the providers which we pass on to you.
• Our advice is impartial, and best of all – FREE.
• We only associate ourselves with the best insurance providers in the region in terms of quality of service and price. This gives you peace of mind.
• We can get you three or more car insurance quotes based on your requirements within a day or two, while you are in the comfort of your home.
• All the required documentation for the car insurance can be sent electronically, which means you don’t have to visit our office except to collect the policy.
• You can pay using credit cards for convenience.
• You will never pay us a single dirham – you pay the provider directly and you contract is with the provider directly not with us.
• Single point of contact – you NEVER have to approach the provider directly for service or claims. We have a dedicated hotline for all your insurance servicing needs including claims.
• Renewal of your car insurance policy and getting no claims discount is all done by us.

If you value peace of mind and less heartaches, just fill up the form below and we will do the rest. Finding Car Insurance in Dubai has never been easier, just fill out the form below and my team will arrange it for you.

Life Insurance in Dubai

Life Insurance in Dubai

Most expats in Dubai are here for the short to medium term i.e. 3-10 years. Some even stay more than 15 years or more. When they cross the 3-year mark, chances are that they will stay longer in Dubai.

Life insurance in Dubai

Common mistake expats in Dubai make with their insurance planning -

1. Many expats put off taking Life Insurance in Dubai because they think that if they are here for a short period, and think that continuing the life insurance policy from another country would get difficult – Life insurance policies from reputed international companies are always portable and can be continued from any country in the world which supports international bank accounts or credit cards.
2. Putting of Life Insurance planning in the short term is very dangerous because if the expat were to die in the UAE or be involved in an accident, he/she would be leaving their surviving dependents exposed to an high amount of risk through the loss of income from the earning member.
3. Taking life insurance too late in life. The cost of insurance increases significantly as you age and the earlier you consider life insurance in Dubai, the cheaper it gets.

Key points to consider when getting Life Insurance in Dubai -

1. Source of planning advice – The source of advice is very important when making any major decision in life, especially one that involves Life Insurance in Dubai.
• Banks are financial institutions and not insurance specialists. They are not the right source for taking insurance planning advice or policies.
• Banks offering Life insurance in Dubai represent at the most one or two international or local insurance providers, hence their product range is very limited and may not suit your needs. Hence their consultants or relationship managers are only interested in pushing these products to you and do not offer impartial advice.
• Banks offering Life insurance in Dubai DO NOT have qualified advisers who can do a good job with your insurance and financial planning.
• Most importantly banks offering Life insurance in Dubai have much more hidden charges in their insurance plans and you end up paying much higher premiums for the same benefits as you would if you go through an independent broker.
• You should always approach an Independent financial adviser who is associated with a reputable insurance broker. The word ‘independent’ is key here because he/she represents you and not the providers and gives you impartial advice on which product to choose.
2. Quality of planning advice – When considering life insurance in Dubai the personal financial planner you approach for insurance planning advice should be suitably qualified and trained by the providers and the broker he is associated with. This is very important because life insurance planning is a complicated process and lots of factors need to be considered when designing the insurance portfolio.

Maternity Insurance in Dubai

Maternity Insurance in Dubai

Maternity insurance in Dubai

Delivering a baby without Maternity Insurance in Dubai can be very expensive. Delivery fees from January 2011, at UAE government hospitals are AED 5,000 for natural births, and AED 8,000 for caesarean section (previously AED 2,500 for natural birth and AED 5,000 for c-section).
If the patient does not have medical insurance in Dubai, it doubles to AED 10,000 for normal births and AED 16,000 for caesarean sections. Private hospital fees ranged from AED 6,000 to AED 25,000. Although many companies provide medical insurance in Dubai to their employees, the government has not yet made it mandatory (this is about to change in the near future).
This means that many couples who are planning to have babies should get maternity insurance in Dubai for themselves.

Key points to consider when buying Maternity Insurance in Dubai

1. What are the limits of the maternity insurance being offered?
2. Which hospitals are covered in the providers network list?
3. Are these hospitals close to where you live, in case of emergencies?
4. Are the hospitals in the list the type that you would be comfortable with?
5. Is there a waiting period involved before you can avail this benefit? Some insurers offer maternity insurance in Dubai without waiting period. Others have waiting periods of 10 months or more.
6. Does the plan over prenatal and postnatal costs?
7. Does the plan cover premature deliveries and incubation costs?
8. What are the limits of maternity cover being offered?
9. Is the maternity cover being offered as a cashless facility or on reimbursement basis?
10. Finally, is the insurer a reputed company that honors claims without hassles?
11. Do you have the time and patience to research amongst the numerous medical insurance providers?

Consequences of not having the right maternity insurance in Dubai

Not having maternity insurance in Dubai can turn out to be very expensive based on the costs mentioned above. There have been a number of horror stories of people having to pay a lot of money because their medical insurance plans did not cover maternity costs.
Not all medical insurance plans suit all individuals. Each person has different needs. This where our medical insurance department is able to help you by providing you quotes only from the providers best suited to your needs and free impartial advice.
More importantly, using us as a broker for your medical insurance does not increase your costs. We get compensated by the providers for the business and provide an extra level of service for administration and claims.

How to apply for Maternity insurance in Dubai

AXA Medical Insurance Dubai - GET THE BEST RATES

AXA Medical Insurance Dubai - GET THE BEST RATES

Axa Medical Insurance Dubai

It’s now simple to access great healthcare for you and your family, wherever you are in the world. Axa Medical Insurance Dubai makes it easy to choose the right cover and easy to use it.

AXA Medical Insurance Dubai

A simple approach – Now Health – Axa Medical Insurance Dubai

• AXA asks you the important questions up-front and provides you with clear information, so you know exactly what you’re covered for, and what you’re not.
• AXA processes are built to be user-friendly and to save you time. You can manage everything online, from joining to tracking your claims.
• All your information is stored in your own online secure portfolio area so you can access it from anywhere in the world 24 hours a day.
• AXA plans are portable, so you may be able to keep the same great cover if you move from one country to another.
• Above all, AXA Medical Insurance Dubai is designed to meet the needs of people who want access to international healthcare.

Designed to work harder for you and your family – Axa Medical Insurance Dubai

With Now Health – Axa Medical Insurance Dubai, you can count on:

• Fast, accurate service from people who understand what’s important to you and respect your time Clear information, so you can easily manage your plan
• Access to healthcare worldwide via the AXA provider network
• Straightforward processes and fast turnaround times, from joining to claiming
• The tools to access and manage your information online from anywhere in the world
• A clear ethical policy including a commitment to reduce the amount of paper used

Our service promise – Axa Medical Insurance Dubai

AXA international health insurance is designed to give you straightforward access to the healthcare you need, wherever you are in the world. This means:

• A commitment to handle your claims quickly. Providing all the information needed is available, AXA aims to process eligible claims within five working days
• When you join, AXA will dispatch a membership card for every member on your plan within two working days.
• Help to find suitable healthcare providers in your area
• Pre-authorization of your claims where possible, to reduce your out-of-pocket expenses
• An international claims management team with the medical expertise to support you in making decisions about your healthcare
• 24 hour emergency assistance with AXA Assistance Expert staff located in Hong Kong, Dubai and the UK, to provide on-the-ground local knowledge when you need it.

How to use your insurance – Axa Medical Insurance Dubai

When you need to use your insurance, AXA has designed the process to make it as straightforward as possible.

Finding the right care – Axa Medical Insurance Dubai

You can access healthcare worldwide via AXA’s rapidly growing network of healthcare providers – and if you have a nil excess or the direct billing facility, you won’t have to pay anything up front. If it’s more convenient to use an out-of-network provider, AXA has designed the claim process to be quick and simple.

Zurich International Life

Zurich International Life

Zurich International Life – Middle East is the Dubai branch of the company Zurich International Life.

Zurich International Life

The Dubai branch is based in DIFC with an office in Emaar square as well, next to Dubai mall.

Zurich International Life – Middle East – Areas of operation

Zurich International Life – Middle East office serves customers in the United Arab Emirates and Bahrain and Qatar with products such as -

• Regular premium savings and investments products
• Single premium savings and investments products
• Protection products

Zurich International Life – Regular Premium Savings and Investments

The main product for regular premium savings and investments offered by Zurich International Life is call ‘Vista’. This product is one of the most popular savings and investment products in the market

Zurich International Life – Vista has been designed to be a tax-efficient, simple, flexible, savings plan that can change as your circumstances change. Premiums can be single payments and regular payments which can be increased, decreased or even stopped for a while if necessary.

Zurich International Life Vista is designed for -

1. Future Savings in general
2. Children’s education planning
3. Retirement planning
4. Wedding expenses planning

Single premium savings and investments

Zurich International Life has two products designed for single premium savings and investments.

1. International Wealth Account
2. Global Choice

Zurich International Life – IWA is a medium to long-term, single contribution, unit linked plan. It is issued as either a life insurance plan or as a capital redemption plan.
Zurich International Life – Global Choice is a unit-linked investment plan that enables you to choose from a wide range of funds with the aim of increasing the value of the money you invest while providing a high level of flexibility. It is available as a life insurance plan with no fixed term.

Zurich International Life – Protection products

Zurich offers two main products for the life insurance needs of expats in the UAE.

1. Zurich Futura
2. Zurich International Term Assurance

Zurich Futura – Futura is an innovative lifetime protection policy. Its flexibility means it can accommodate changes to benefits as the circumstances of your life change. You can have peace of mind that at any stage in life, Futura can protect you and your family the way you want it to. What’s more, its flexibility is every bit as important for tax planning and business insurance as it is in protecting your family.
Zurich International Term Assurance (ITA)- International Term Assurance is a level term life insurance policy. Term assurance is regarded as the easiest and most cost-effective way of providing future financial security for your dependents, should you die.

Friends Provident International

Friends Provident International

Friends Provident International

Friends Provident International Dubai office is based in Emaar square, next to Dubai mall, and is part of the Friends Life Group.
Friends Life group is the name used to describe Friends Life Group plc and all subsidiaries of that company.

Friends Provident International - Middle East – Areas of operation

Friends Provident International provides competitive life assurance, pensions and investment products for Asia, the Middle East, Europe, the UK and other selected markets with products such as -

• Regular premium savings and investments products
• Single premium savings and investments products
• Protection products

Friends Provident International - Regular Premium Savings and Investments

Premier

The main product for regular premium savings and investments offered by Friends Provident International is call ‘Premier’. This product is one of the most popular savings and investment products in the market.

Friends Provident International – Premier has been designed to be flexible as your plans for the coming years are just as likely to change, as your expectations move, adapt and grow. You may want to save for your retirement, for your family, for that special thing you’ve always wanted or, perhaps, to cover your children’s future school fees. Premiums can be single payments and regular payments which can be increased, decreased or even stopped for a while if necessary.

Premier Ultra

Alongside that fundamental principle, Premier Ultra has also been put together with maximum flexibility in mind. For it’s only by allowing your investment plan to change as your circumstances do that your financial planning can keep pace with your other needs and ambitions.
Friends Provident International – Premier and Premier Ultra is designed for -

1. Future Savings in general
2. Children’s education planning
3. Retirement planning
4. Wedding expenses planning

Single premium savings and investments

Friends Provident International has two products designed for single premium savings and investments.

1. Elite
2. Reserve
3. Summit
4. Zenith

Friends Provident International - Elite is a single premium offshore life assurance policy specially designed to allow access to international equity investment opportunities.
Friends Provident International - Reserve - The keys to Reserve are flexibility, adaptability and choice. The product itself, its investment links, and even the way the charges are taken, have all been designed to give maximum freedom of choice to the investor.
Friends Provident International - Summit - Summit is a highly flexible loyalty plan with penalty-free access to the majority of your investment amount.
Friends Provident International - Zenith - Zenith is a single premium offshore life assurance policy specially designed to allow access to international equity investment opportunities.

Friends Provident International - Protection products

Friends Provident offers only one product for protection called International Protector Middle East.
International Protector Middle East is a comprehensive and flexible suite of products, offering Life, Disability and Critical Illness Cover within one plan.
International Protector Middle East is simple, yet can have many uses. It can provide protection for the family, mortgage, business or all of these. The plan can be tailored to meet individual needs and requirements with the flexibility to increase or change the cover in the future. No matter what the future may hold, International Protector Middle East provides complete peace of mind.

Zurich Life - Life Insurance and Savings

Zurich Life - Life Insurance and Savings

Zurich Life

Zurich Life – Middle East is the Dubai branch of the company Zurich International Life.

Zurich Life

The Dubai branch is based in DIFC with an office in Emaar square as well, next to Dubai mall.

Zurich Life – Middle East – Areas of operation

Zurich Life – Middle East office serves customers in the United Arab Emirates and Bahrain and Qatar with products such as -

• Regular premium savings and investments products
• Single premium savings and investments products
• Protection products

Zurich Life – Regular Premium Savings and Investments

The main product for regular premium savings and investments offered by Zurich Life is call ‘Vista’. This product is one of the most popular savings and investment products in the market

Zurich Life – Vista has been designed to be a tax-efficient, simple, flexible, savings plan that can change as your circumstances change. Premiums can be single payments and regular payments which can be increased, decreased or even stopped for a while if necessary.

Zurich Life Vista is designed for -

1. Future Savings in general
2. Children’s education planning
3. Retirement planning
4. Wedding expenses planning

Single premium savings and investments

Zurich Life has two products designed for single premium savings and investments.

1. International Wealth Account
2. Global Choice

Zurich Life – IWA is a medium to long-term, single contribution, unit linked plan. It is issued as either a life insurance plan or as a capital redemption plan.
Zurich Life – Global Choice is a unit-linked investment plan that enables you to choose from a wide range of funds with the aim of increasing the value of the money you invest while providing a high level of flexibility. It is available as a life insurance plan with no fixed term.

Zurich Life – Protection products

Zurich offers two main products for the life insurance needs of expats in the UAE.

1. Zurich Futura
2. Zurich International Term Assurance

Zurich Futura – Futura is an innovative lifetime protection policy. Its flexibility means it can accommodate changes to benefits as the circumstances of your life change. You can have peace of mind that at any stage in life, Futura can protect you and your family the way you want it to. What’s more, its flexibility is every bit as important for tax planning and business insurance as it is in protecting your family.
Zurich International Term Assurance (ITA)- International Term Assurance is a level term life insurance policy. Term assurance is regarded as the easiest and most cost-effective way of providing future financial security for your dependents, should you die.

Where to get Zurich Life Products

As part of the largest insurance brokerage in the middle east we can offer impartial advice and design tailor-made solutions for you. If you are interested in inquiring about Zurich Life products, please fill our the form below and we will contact you within 48 hours.

Zurich Insurance Dubai - Life Insurance and Savings

Zurich Insurance Dubai - Life Insurance and Savings

Zurich Insurance Dubai

Zurich Insurance Dubai is the Dubai branch of the company Zurich International Life.

Zurich Insurance Dubai

The Dubai branch is based in DIFC with an office in Emaar square as well, next to Dubai mall.

Zurich Insurance Dubai - Areas of operation

Zurich Insurance Dubai office serves customers in the United Arab Emirates and Bahrain and Qatar with products such as -

• Regular premium savings and investments products
• Single premium savings and investments products
• Protection products

Zurich Insurance Dubai - Regular Premium Savings and Investments

The main product for regular premium savings and investments offered by Zurich Insurance Dubai is call ‘Vista’. This product is one of the most popular savings and investment products in the market

Zurich Insurance Dubai - Vista has been designed to be a tax-efficient, simple, flexible, savings plan that can change as your circumstances change. Premiums can be single payments and regular payments which can be increased, decreased or even stopped for a while if necessary.

Zurich Insurance Dubai Vista is designed for -

1. Future Savings in general
2. Children’s education planning
3. Retirement planning
4. Wedding expenses planning

Single premium savings and investments

Zurich Insurance Dubai has two products designed for single premium savings and investments.

1. International Wealth Account
2. Global Choice

Zurich Insurance Dubai - IWA is a medium to long-term, single contribution, unit linked plan. It is issued as either a life insurance plan or as a capital redemption plan.
Zurich Insurance Dubai - Global Choice is a unit-linked investment plan that enables you to choose from a wide range of funds with the aim of increasing the value of the money you invest while providing a high level of flexibility. It is available as a life insurance plan with no fixed term.

Zurich Insurance Dubai - Protection products

Zurich offers two main products for the life insurance needs of expats in the UAE.

1. Zurich Futura
2. Zurich International Term Assurance

Zurich Futura – Futura is an innovative lifetime protection policy. Its flexibility means it can accommodate changes to benefits as the circumstances of your life change. You can have peace of mind that at any stage in life, Futura can protect you and your family the way you want it to. What’s more, its flexibility is every bit as important for tax planning and business insurance as it is in protecting your family.
Zurich International Term Assurance (ITA)- International Term Assurance is a level term life insurance policy. Term assurance is regarded as the easiest and most cost-effective way of providing future financial security for your dependents, should you die.

Where to get Zurich Insurance Dubai Products

As part of the largest insurance brokerage in the middle east we can offer impartial advice and design tailor-made solutions for you. If you are interested in inquiring about Zurich Insurance Dubai products, please fill our the form below and we will contact you within 48 hours.

Financial Services for Effective Investment Planning and Securing Your Finances

Investing you money nowadays is such a complex and sophisticated activity that it takes a professional to truly understand all its subtleties and thus identify the premium investments. Here’s how a financial services company can give your investment planning the professional factor that helps maintain the value of your assets and plan for your desired quality of life.

Effective investment takes education, training, knowledge and experience – something that many of the professionals active in the financial planning field can offer. Even if you have a strong understanding of business and economics, it still makes sense to focus on your core job and allow financial professionals to take care of your investment planning. Here’s how they work.

Firstly, a financial services advisor helps you to define your goals. These aims will cover, for example,what assets, such as property, you wish to acquire? What future income streams you’ll need to maintain your lifestyle including important matters such as paying for your childrens’ education and your retirement?

By taking into account such factors as your income, assets, obligations such as mortgages and other debts, your advisor can determine the optimum sums you can invest over various timeframes to make sure your goals are met.

This involves developing a strategy to attain your goals. A strategy is a long term approach that’s formulated after a thorough analysis of all relevant factors. Your situation and goals plus the business environment including such factors as the investment situation and tax legislation will all be considered.

Next, you need to select the types of investments that align with your strategy. With so many types of investment on offer all differing in terms of timeframe and return it’s hard to make a decision.

Some of the choices you may have to make include choosing between individual stocks or investing in a mutual fund or unit trust. Some individual stocks are riskier than others but can offer a chance of high capital gains; whilst tracker funds and unit trusts should provide a safer and more modest return as the risk is spread out over a portfolio.

Then again treasury bonds or gilts sound safe. However, their value varies according to the interest rate. If interest rates rise, the value of existing bonds fall, lowering the value of your portfolio. A good financial advisor will be able to put together for you a balanced portfolio of investments designed to attain your goals.

Essentially, your financial services advisors is using his expertise and experience to help you make informed decisions that will influence you present and future wealth, your standard of living and your peace of mind.

He can guide towards investments that are expected to be less risky and fit in with your strategic goals. (And equally importantly steer you away from those which could bring you grief however promising they may look).

Ultimately, your future prosperity depends on the action you take now to make sure you money is invested wisely and offers a positive return.

Other than investment planning, you financial advisor will also make sure you don’t pay more tax than you should and that your insurance coverage is adequate for the needs of you and your family.

You can find a number of reputable financial services companies in London and the Home Counties. Just search online and you’ll find hundreds of firms. However, to make sure you get quality advice from a reputable advisor, you need to choose carefully.

By using the internet, you can find reputable financial services companies in London and the Home Counties. You can also use the net to check on the credentials of your London financial advisors. At the least, your financial advisors must be FSA authorised which guarantees certain standards. This is easy to check by visiting the FSA’s website or by calling their consumer hotline. For even greater confidence, you should also check your financial services advisors have staff holding chartered financial planner status.

Kathryn Dawson from Internet Marketing writes articles for Tower Hill Associates, http://www.strategyinternetmarketing.co.uk/ a team of financial planners providing a range of financial services such as investment planning in UK. http://www.towerhillassociates.com/ Using a set of methods and philosophies, the company prides itself in providing the best service for customers.

How to plan for retirement

How to plan for retirement

Lets face it, no matter who you are, what you do and how old you are right now, there is day when all of us will retire, or at least want to retire.

For most people retirement means having financial independence and being able to make the choice of working or not working.

How to plan for retirement – Questions you need to ask yourself

• Would you want to able to afford at least the same lifestyle you are living today?
• Would be comfortable being dependent on your children or others for your monthly expenses at retirement or be financially independent?
• Do you want to have the freedom to ‘Do what you want, when you want and how you want’ when your retire?

How to plan for retirement – When do you plan to retire?

When I meet people about financial planning one of the questions I ask is ‘When do you plan to retire?’. Most people have a blank look in their eyes, while others say between 45-50. Some say 60-65. The point is, there is no right or wrong answer about the right retirement age, it all depends on your own personal situation, wants and needs.
But, not planning for retirement is the most common mistake people make. Some procrastinate while others pretend that their game has no end. Others say that they have more important commitments like children’s education planning to look after before they can consider retirement planning. Like it or not, I tell them that they need to start thinking about retirement planning and the earlier the better.

How to plan for retirement – Where do you want to retire? and what do you see yourself doing?

When considering ‘How to plan for retirement‘, consider where you would want to retire. Answer the questions below to yourself in as much detail as possible. I cannot stress more on the importance of doing this.
Unless you have a detailed picture of your retirement years, you will keep wondering ‘How to plan for retirement‘.

• Which country do you see yourself retiring in?
• What do you see yourself doing during retirement?
• Would like to travel around the world, visiting countries you haven’t seen?
• Would you like to build your own dream house?
• Would like to do any particular activity which is not possible right now?

How to plan for retirement – How many years after retirement should you plan for?

Based on your family health history and your own lifestyle choices, you can probably arrive at a number of how many years you would expect to live after retirement, and consequently the number of years you would need to plan for, to be financially independent after retirement.
If you expect to retire at 60, typically you would need to plan for 20-25 years after retirement.

How to plan for Retirement – Calculating the total amount you would need to have by retirement to live comfortably

This is a tough one, especially if you haven’t done the previous section correctly. Based on the questions answered earlier, you will now have a rough idea about how much you need on a monthly basis, to do all the activities mentioned above. If not, I can always help you arrive at this figure when we meet in person as I have a very comprehensive version of a retirement calculator in the form of an excel file.
But to begin with, start by thinking about your basic monthly expenses in today’s terms for maintaining the same lifestyle your are leading now. This should be fairly easy to calculate based on your current expenses. Multiply this number by twelve to get an annual figure. Then itemize the approximate annual expenses of all the other things you would like to do at retirement in today’s terms. Add all of the above and you will arrive at a number, which you can call ‘Total Annual Expense at Retirement in today’s terms’.
Then you have to factor in the effects of inflation and calculate the future value of the ‘Total Annual Expense at Retirement in today’s terms’ at the age of retirement. Then you need to calculate the total amount you would need in bank deposits to earn you the calculated future value in interest annually.
After all this is done, you need to back calculate the monthly amount you need to save in order to hit this number at retirement.
I know all this sounds complex to calculate but that’s where I come in.

A-E-I-O-You And The WHY!

Financial planning is like riding a subway. You should know your destination, understand the ride is bumpy with moments of ambushed darkness, firmly grip the overhead handrails, and recognize you are surrounded by unfamiliar others. An educated traveler accepts the variables and chooses to utilize the convenient public transportation anyway.

As you plan for your financial future, whether you set goals for next month, next year, or next decade, choices will be made to meet with your unique circumstances. It is important to understand all investment and planning alternatives with the associated risks. Depending on your particular route, the ride may sometimes be unsettling, yet the focus should be placed on your desired goals.

A key component in addressing the desired outcome of any financial future is to understand your options and thus develop an appropriate course of action. The multitude of options at your disposal can be as confusing as a bowl of alphabet soup. Letters commingle with one another to form illogical and unrecognizable words. Stop the swirling chaos and isolate the vowels. The vowels will assist you in developing a strong understanding of important financial planning concepts.

“A” is for asset allocation. Also known as diversification, asset allocation is arguably one of the most important aspects of a strong financial plan. By manipulating the division of certain asset groups including stocks, bonds, and cash, an investor attempts to reduce volatility and increase the portfolio’s overall rate of return. Asset allocation suggests the type of investment you choose is more important than the time you buy it. Remember, success may depend on “time in” the market and not “timing” the market. In the short term, you may be incorrect with one investment while another outperforms your expectations. Concentration should be placed on the long term aspects of your strategy.

Different investments tend to form distinct cycles of growth and retraction. You will inevitably notice the correlation between certain groups may be negative or positive. Some move in the same direction while others move in an opposite direction. Thus, you control the amount of risk in your portfolio by introducing various types of investments. Finally, different stages of life may dictate your allocations as you progress from a risky portfolio of potential growth to one of less risk and preservation of principal.

“E” is for estate planning. Estate planning is a present day concern for many people and should be addressed in great detail by all, regardless of your financial status. It is the outline of an estate for the intended and orderly attainment, administration, and disposition of a person’s continuous financial objectives.

Proper planning addresses the issues of estate taxes, transfers of assets, charitable intentions, wills, trusts, business successions, living wills, and medical directives. The complete list of estate planning objectives is extensive and you should contact the appropriate legal and financial professionals for appropriate direction.

Undoubtedly, everyone knows of the recent issues with Terri Schiavo, the Florida woman faced with a persistent vegetative state for the last fifteen years. In 1990, Terri Schiavo suffered from a speculated cardiac arrest leading to her eventual dependence on a feeding tube. Unable to care for herself, Terri Schiavo’s situation sparked a whirlwind of fierce debates. Earlier this year, under Florida court orders, her gastric feeding tube was removed and Terri Schiavo died of dehydration on March 31st. Opinions of her condition varied from a treatable state of consciousness to an irreversible capacity of unconsciousness. Much of this issue could have been avoided with a living will and/or a durable power of attorney for health care. A living will is a legal document that establishes particular medical conditions in which the person chooses to use life sustaining treatments. This document relieves others from making difficult decisions when issues are blurred. With a durable power of attorney for health care, the legal document appoints the person to make health care decisions on behalf of another. Terri Schiavo did not have either and thus her husband, Michael Schiavo, became her legal guardian. The case illustrates the importance of estate planning even for a person in his/her late twenties.

“I” is for insurance. Often times estate planning cannot be discussed without the topic of insurance or risk management. Most people view homeowners, automobile, health and life insurance as necessary. Yet, there are types of insurance vehicles overlooked or avoided such as disability and long term care insurance. Avoid procrastination and discuss all aspects of insurance planning with you financial planner.

“O” is for ownership. Uncontrollable debt will destroy your net worth. To make your first million quickly, it takes years of equitable planning. Debt control should be a focal point. By reducing and ultimately eliminating debt obligations, you will be freed from many restraints. With this freedom comes the ability to save more and develop greater financial independence. Address the issues of debt and watch your restraints disappear.

“YOU” is all about placing yourself, and your family, at the top of the priority list. Educating yourself and your family will ultimately allow for better conversations between you and your financial planner. A better education means you have the ability to sort through the fluff provided by investment gurus and the market itself. With proper knowledge of the investment and financial vehicles available, you will ultimately develop confidence.

“WHY” is for the unpredictable and irrational circumstances we all face. An investor may question the market and its volatile nature. Market risk is a constant and sometimes parts of the portfolio make illogical moves. Know that the bigger picture is one of discipline and concentration. When the lights of short-term failure flicker, do not coward like a monetary cockroach.

In a bowl of alphabet soup, recognizable words may form accidentally. Your financial betterment will not take shape accidentally. Financial planning is a learnable process and knowing your vowels will assist you in developing a proficient financial plan. Keep in mind (A)sset allocation, (E)state planning, (I)nsurance, (O)wnership, YOU, and sometimes “WHY?” to have a rewarding future for you and your family.

Life Insurance in Dubai

Life Insurance in Dubai

Most expats in Dubai are here for the short to medium term i.e. 3-10 years. Some even stay more than 15 years or more. When they cross the 3-year mark, chances are that they will stay longer in Dubai.

Life insurance in Dubai

Common mistake expats in Dubai make with their insurance planning -

1. Many expats put off taking Life Insurance in Dubai because they think that if they are here for a short period, and think that continuing the life insurance policy from another country would get difficult – Life insurance policies from reputed international companies are always portable and can be continued from any country in the world which supports international bank accounts or credit cards.
2. Putting of Life Insurance planning in the short term is very dangerous because if the expat were to die in the UAE or be involved in an accident, he/she would be leaving their surviving dependents exposed to an high amount of risk through the loss of income from the earning member.
3. Taking life insurance too late in life. The cost of insurance increases significantly as you age and the earlier you consider life insurance in Dubai, the cheaper it gets.

Key points to consider when getting Life Insurance in Dubai -

1. Source of planning advice – The source of advice is very important when making any major decision in life, especially one that involves Life Insurance in Dubai.
• Banks are financial institutions and not insurance specialists. They are not the right source for taking insurance planning advice or policies.
• Banks offering Life insurance in Dubai represent at the most one or two international or local insurance providers, hence their product range is very limited and may not suit your needs. Hence their consultants or relationship managers are only interested in pushing these products to you and do not offer impartial advice.
• Banks offering Life insurance in Dubai DO NOT have qualified advisers who can do a good job with your insurance and financial planning.
• Most importantly banks offering Life insurance in Dubai have much more hidden charges in their insurance plans and you end up paying much higher premiums for the same benefits as you would if you go through an independent broker.
• You should always approach an Independent financial adviser who is associated with a reputable insurance broker. The word ‘independent’ is key here because he/she represents you and not the providers and gives you impartial advice on which product to choose.
2. Quality of planning advice – When considering life insurance in Dubai the personal financial planner you approach for insurance planning advice should be suitably qualified and trained by the providers and the broker he is associated with. This is very important because life insurance planning is a complicated process and lots of factors need to be considered when designing the insurance portfolio.

Product related factors – Life Insurance in Dubai

The following points are very important and should be discussed with your independent financial adviser when considering Life Insurance in Dubai.

1. Term Life Insurance vs Whole of Life insurance.
2. Single Life Insurance policy vs Joint life both death Insurance policy.
3. Death benefits and living benefits.
4. Number and types of critical illness being covered.
5. Growth rate and premium affordability in case of cash value policies.
6. Premium payment terms.
7. Premium payment options and flexibility.
8. Funds where your money is being invested for insurance policies with cash values.
9. Till what age does each benefit last.
10. Are the benefits and levels of cover designed correctly as per your requirement? etc…

As you can see getting life insurance in Dubai involves a lot of planning and careful decision making. If you are keen on getting Life insurance in Dubai, please fill in your contact details in the form below and we will contact you for a free 30-minute review of your insurance requirements.

Financial Planning - Five Critical Steps in Financial Planning

1. Gather and Prepare Your Personal Financial Situation Status Quo

This kind of information can depend a lot on you as an individual, but it usually has to do with...

-- your investments,

-- your insurance policies (life, health, long-term care, property, liability, etc.),

-- your retirement benefits,

-- your tax situation (income tax, estate tax, gift taxes, etc.),

-- your will or trust,

-- your other estate planning information,

-- your powers of attorney,

-- any other financial information or documents you may need.

It's helpful for you to put together some simple personal financial statements. These can be much like those that are used in business. They might include your personal balance sheet, an income statement, and other relevant statements.

In the case of a balance sheet and income statement, the assets and liabilities, as well as your income and expenses, are included in the statements. These can be combined, for example in the case of husband and wife, or separate income statements and balance sheets could be put together for each person in your family.

If you are using a professional, they may have forms already made up that you can use for these purposes.

2. Identify Your Goals and Objectives

This will take some thought, and is one of the most important foundations to your financial planning.

Put some time and thought into it, and the rest will fall into place much better.

3. Compare Your Current Scenario With Alternative Ways To Handle Each Part of Your Financial Planning

Relate it to your goals and objectives. Get the advice and information you need from others, including professionals, and make decisions for changing what is the status quo.

4. Develop and Put Into Place Your Plan

Not someone else's plan, but YOUR plan.

Putting together the facts of your current situation, your potential future situation, your goals and objectives, and looking at those alternative ways of handling your case, you can lay down a plan that, while flexible, will act as a map for your future years in planning your finances.

5. Review and Revise Your Plan As Needed Periodically

Don't think of your plan as carved in stone. Things change. Circumstances change. YOU change.

There may be family occurrences like marriages, divorces, deaths, births, changes of occupation, varying economic conditions, and many other things that enter into making financial planning decisions.

Put these five steps into play, and you'll be glad they did. Read more. Absorb lots of information. But don't let it paralyze you. Information plus action will take you a long way.

By the way, do you want to learn about losing weight without counting calories, carbs or points?

If so, I suggest you check this out: NoCountDiet.com.

Article Source: http://EzineArticles.com/?expert=T._Lee_Rayburn
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Financial Planning - The Most Important Aspect of Financial Planning

You may not realize it but the most important aspect of financial planning is you. That is right it all about you! And while there maybe some financial things you have to do it all come down to you.

And your financial success or lack thereof is predicated on your ability to understand and make informed and effective decisions about the use and management of your money.

So here are seven things you have to do if you are going to take control of your financial future.

Firstly, Forget about it! What ever happened in the pass is gone so just forget about it. Money is described in financial circles as being a"liquid asset" which indicates that it has all the characteristics as water. As water spilled on the ground cannot be gathered up again so it is with money wasted. So do not frustrate yourself with your pass actions just forget about it.

Secondly, Start Now! Forget about yesterday but begin today to take control of your money. While you cannot change yesterday you can greatly influence tomorrow. Never forget that it is not money that builds wealth - it is time. By not starting now you are throwing time away and you cannot afford to do that.

Thirdly, Get Committed! Your financial freedom makes a huge difference in the quality of your life yet it is created not by huge thing but by doing lots of little things right over a long period of time. Doing the little things take commitment. Never forget that all success whether in business, in relationships or in life, comes at the end of the road of commitment!"

Fourthly, Put It In Writing! If you are not setting specific financial objectives and implementing a workable plan in writing. Then you are setting yourself up for disappointment.

Are your financial goals in writing? Do you have a step-by-step action plan that will lead to your financial success?

Fifth, Stop over Spending! The cost of your undisciplined spending is your financial future. Your money is a resource that must be conserved and focused on your goals. Anything less is wasteful. must never forget that every dollar you spent has the potential for jeopardizing rather than enhancing your future.

Sixth, Control your Time. There question that money is a scarce resource but an even scarcer resource is your time. So you need to guard it jealously and may sure that you are always using it for your maximum benefit. And do not fall into the trap of believing that time is money. No way money mistakes can be corrected but time mistakes can never be corrected. Once you have lost time it is gone forever.

Seventh, Control your Risk. Never allow yourself to be blinded by the returns of an investment by remembering that the key to making money is not to lose it. And it is always better to grow your money slowly than to look for quick gains.

Without you disciplining yourself to do these seven thing then you will no change of achieving your financial plan, because controlling you is the most important aspect of your financial planning.

And here is a resource that can help you Take Control of Your Money [http://www.financialcoachingwithglenn.com/Money-Taking-Control-of-Your-Money.html].

Copyright © 2010 - Glenn S. Ferguson

Glenn Ferguson is a Speaker, Coach and Syndicated Writer, helping you to painlessly take control of your money to create wealth for you and your family. Email to: glenn@financialcoachingwithglenn.com   Web site: [http://www.financialcoachingwithglenn.com]

Article Source: http://EzineArticles.com/?expert=Glenn_Ferguson
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