Financial planning is the process of:
Understanding your financial goals; knowing when you will need to use your money, and what you will be using it for. Then laying out a plan of action with specific steps you need to take to achieve those goals. To give good advice a financial planner, also called a financial advisor, or your financial life coach must gather personal and financial data about you. They use this data to create projections that show you when and how you might accomplish your goals.