The oldest living person in the world, Kane Tanaka from Fukuoka, Japan, is over 116 years old. Born in 1903 (the same year The Wright brothers flew the first powered flight and the first Tour de France was held ceremony 2019 with certificate and box of chocolates. She opened the box and told journalists how many chocolates she wanted to eat: "100".
While few people live long enough to reach the post-century mark, many live far beyond the traditional retirement age. Cash flow planning, a technique that can help clients plan their retirement by recording cash inflows and outflows, continues to be misunderstood. trustee report Their customers often underestimate spending by 25 percent – which can have a significant impact on their financial future.
From young to old
With cash flow planning, customers can better determine where their money goes and where it goes to finance their life goals. Cash flow planning can be used at any stage of life: early accumulators, mid-career accumulators, early retirement and retirees.
- Early accumulators: Start with an appropriate savings plan and understand the spending, saving, and financing of emergency and retirement accounts.
- Mid-Career batteries: Manage your expenses to achieve goals such as study and health issues.
- Pre-retirees and retirees: Understand how current spending impacts future finances and the ability to survive retirement savings.
eMoney connects the parts
The eMoney Budgeting Tool provides daily updates of a customer's spend transactions links to their financial institutions. The consultant can see an accurate picture of a customer's spend that can be used in cash flow simulations and, most importantly, highlight areas where changes should be made.
Not many people count on a century plus. However, anyone can benefit from proper cash flow planning by outlining their financial future and making the necessary changes before it's too late.
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