Financial planner are usually connected with financial institutions that promote their own products. These planners also concentrate on individuals with high net worth. Francisco J. Colayco advised that for the ordinary income earner, there is no immediate need for a formal financial planner. It is better that he first understand the basic financial principles. Then, he can make his initial financial plan before asking advice from these financial planners. In this way, he better understand the products that they will offer him. The author of the book Making Your Money Work, Francisco J. Colayco defines financial planner as a person orsomeone who can give you advice on matters related to saving, investing, taxes, insurance, household money management, real property management and retirement. What products or services a financial planner offers to his clients? A planner should be able to help his clients do the following: (1)He prepares their statement of assets and liabilities. (2)He makes a budget so that they live only within their chosen lifestyle and follow the principle of: Income minus Savings equals expenses. (3)He allocates their assets to ensure a diverse investment portfolio. (4)He ensures that they have sufficient insurance for themselves, their families and their properties. (5)He keeps his clients taxes payments at the lowest cost within the law. (6)He plans for their children’s education and their retirement. (7)He helps them prepare legal documentations to protect their financial interests while they are living. (8)And he prepares a plan for their heirs in the event of their deaths. Read also: http://expertscolumn.com/content/us-entrance-requirements-foreign-students http://expertscolumn.com/content/15th-president-latter-day-saints-church-gordon-b-hinckley ExpertsColumn is open for all your awesome and original columns. Join ExpertsColumn Community: My referral link: http://expertscolumn.com/referral/65788295 and then write, publish and earn. I would be happy to see ExpertsColumn site is consistent with its Editor section where all the widget tools are presents. They often disabled those widget tools inside the editor section. Those widget tools are helpful to layout columns and to present an attractive look of a column.