7 Tips To Help your Father Build A Financial Plan
2. Calculate Cash-Flow Statement
Cash-flow statement shows the income and expenditure behaviour of a person. It clearly shows the savings amount at the end of every month. However these savings can be further utilized in making other investments, you can help your dad by keeping a record of cash flow on a monthly basis.
If you are tech savvy, make sure that you give a printout of all the monthly income and expenditure so that your father will get a better picture of the money that could be saved by the end of the year.
3. Look at Retirement Solutions
Your father might have chosen some investment plans from which he would get high returns when he retires. Try to figure out how much he has earned from his savings instruments till date and let him know about other investment plans that are better than the ones he has chosen to invest in.
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