Financial planning is the process of managing your finances to reach your objectives in life. Retirement planning, wealth preservation, investments, risk management, tax planning, and estate planning are all included in this all-inclusive financial plan and strategy. It's a systematic approach customized to each person's needs that fiction books a review of pertinent material. According to the Certified Financial Planner Board of Standards, financial planning is "the process of determining whether and how an individual can meet life goals through the proper management of financial resources".