Tax Analysis of Investments Using the Internet - 16 CPE
Everyone needs to do financial and investment planning. Whether a person is a business owner or an employee, young or retired, wealthy or poor, they should plan for their financial independence. As Teddy Roosevelt said, "The duty of every citizen is to be self-sufficient." Financial planning is for everyone.
Financial planning is designing a program for effective wealth building, preservation, and disposition of property at the minimum possible tax cost. This process is much more than just "investing." It is a commitment to yourself, your family, your goals, and your community.
When you start building wealth, you must preserve it at the same time. Preservation is the process of maintaining and defending your earning power and asset worth against lawsuits, taxes, ignorance, and inflation.
Finally, once you have made and preserved wealth, you must determine how to distribute it to your heirs with the least possible death cost. Thus, successful financial planning is a progression through three stages:
(1) Making money,
(2) Keeping it, and
(3) Distributing it.