The purpose of a financial plan is to create maximum money potential and money supply. The Ideal Financial Plan would include these nine elements.
- Systematic contribution into the plan.
- Higher return on money.
- Availability or liquidity of funds.
- Minimum taxes during accumulation.
- Minimum taxes on distribution.
- Ease of distribution.
- Contain contingencies for any type of liabilities (death, disability, market risk, etc.).
- Minimize risk.
- Flexibility to change the plan.