What are the Advantages of Financial Planning

Financial planning comes along with numerous benefits for individuals and businesses for future planning. Having savings in the bank is helpful to businesses and individuals, especially during tough times. How individuals use their money is not the same as how businesses use their money. 

Advantages of personal financial planning

retirement plan

    • You will have money – once you manage your money effectively, you will actually have money. Plan to get out of debt and experience a world of new unlimited possibilities. Manage money, don’t let money manage you.


  • Financial plans
      • force you to budget –

    many people confuse a financial plan to a budget. The focus of a full financial plan is beyond your budget. In as much as you hate it, using a budget will give you more freedom. You will pay bills on time and money won’t disappear mysteriously. Prioritize saving and get out of debt

  • A personal financial plan will help get you out of debtyou need a plan to prioritize debt reduction. You will be happier when you get out of debt, and you will have more money.


  • Financial planning helps in making your retirement planeveryone wants to retire in style. However, it is not a guarantee. You must start planning the earliest possible and secure your retirement plan.
  • A personal financial plan gives you some peace of mind – financial stress will negatively impact on everything you do. Making your own financial plan will help you realize your goals, and you will be happy.

Advantages of business/company financial planning

company financial planning

      • Income and cash flow – financial plans draw a line between expenses and tax obligations. That guarantees the business smooth cash flow and a measure of a company’s financial wealth.
      • Planning for rough times – savings will help businesses get through tough times. The business will have money to pay certain expenses when business performance declines.
      • Correctly managed cash flow – it becomes easy to monitor cash and debt levels, especially for a new business.


    • Personal financesmost business owners take a portion from business to use it as a salary. Having a sound financial plan will ensure they save more for their future.
    • Achieving personal goalsbusiness owners must budget for their personal goals in the financial plan and ensure they don’t interfere with the business goals.
    • Clear retirement goalsfinancial planning will help you secure your post-employment years. It would help if you were financially sound in the future
    • A secure retirement incomemost business persons, expect they will have enough to fund their retirement years. However, nothing is guaranteed. In your financial plan, always put aside some retirement savings.
    • Reduced risksmall business owners tend to pull all their assets straight into their businesses. A sound financial plan will help them diversify their investments to reduce the risk.
    • Insurance use your financial plan to budget for illness, disability, or death. You will also easily identify an affordable insurance policy.


  • Succession planningyou need an exit plan, especially for retirement. Make sure that the next leadership transition will be smooth. That will take care of your income once you retire.
  • Helps in decision makingbusinesses can monitor their stocks at present and in the future. You avoid making wrong decisions that could affect your financial wellbeing.
  • Optimum use of resourcesyou can allocate resources to different assets with great precision. 
  • Better standards of livinghaving a plan will make you meet your goals without compromising your lifestyle.

Hiring a financial consultant

Business Planning Hurdles

A financial consultant will help a company in making better financial business decisions. The business will avoid costly mistakes. A good business owner does not necessarily mean good business finances. If you are in business, you will easily set aside business and personal expenses. Business consultants will help you in managing and diversifying the business.

Seek assistance from a professional if you:

  • Have no time to manage your financing planning
  • Are not sure where to start in managing your finances.
  • Want a professional opinion on a plan you have developed.
  • Lack of expertise in key areas like taxes, insurance, retirement planning.
  • Have an unexpected life event or an immediate need. 

Feel free to contact us today

“ We have been dealing with BeamaLife for more than ten years now. They have been great advisors to us in terms of advanced risk management. They also helped to put in place pension plan strategies for our partners. BeamaLife has always been extremely professional and very attentive to our needs. Our sincere thanks! ”

Mr. Merchant
Software Company Owner

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Regardless of the topic or question, BeamaLife has unique individuals with the right background to address my concerns. As a result, I have a much clearer understanding of how certain wealth creation strategies were the right fit for my company. I also have been able to take much higher income tax deductions for the corporation by implementing a plan set forth by Neil Jesani. They have maintained an unmatched level of professionalism during my interactions with them over the years.”

Mr. Peters
Software Company Owner, California

“BeamaLife was referred to me by my CPA for my pension plan funding. I also wanted to take care of my estate tax need. Neil and his team have done a superb job of creatively funding my pension plan, acquiring most cost-effective life insurance for our estate planning need with very minimum out pocket using velocity of money principle and putting my existing investment to second use. They also help us setting up all our estate planning documents.”

Dr. Martin
New Jersey

“BeamaLife has been a great advisor to us for many, many years. They not only helped us take higher income tax deductions but, also helped us organize our investment portfolio in an efficient manner. Through this relationship, we were able to create substantial wealth with the very low out-of-pocket expense. Neil Jesani from BeamaLife is very responsive, professional and extremely knowledgeable”

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Multiple Pharmacy Owner, New York

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