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These professionals also hold expertise in various fields, such as retirement planning, taxmanagement, estate planning, investmentmanagement, insurance, debtmanagement, wealth management, and more. Their main area of focus is wealth preservation.
Pay off debt When you make your money plan, be sure it includes a debtmanagement system and a plan for paying off debt. Sadly, you can’t really kick-start your financial future if you’re carrying a ton of debt. You should also understand investment terms. Plan for taxes Yup, taxes!
Unlike the average investor or other financial professionals, a CFP is a licensed expert in areas like estate planning, taxes, retirement, insurance, and investmentplanning. Opening Individual Retirement Accounts (IRAs) and managing your 401(k). Retirement planning, estate planning, taxplanning.
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