An integrated model for financial planning

Abstract

Financial planning is a broad subject that requires an integrating overview. The Model for Financial Planning incorporates the time and the expected nature of financial events. The categories of the model include 1) money management issues that the individual faces as short-term expected events, 2) issues of meeting unexpected financial events through an emergency fund and insurance, 3) investing to reach the individual’s intermediate and long-term goals, 4) transference planning and other long-term issues whose time frame is unknown. The model has applications for “do it yourself” investors, financial planners, and students. The framework successfully integrates the broad range of topics typically covered in financial planning and personal finance courses. © 1999 Elsevier Science Inc. All rights reserved.