A financial plan is a comprehensive roadmap that outlines an individual or organization's goals, strategies and tactics for managing their finances. It typically includes projections on income, expenses, savings, investments, taxes, retirement planning, estate planning, insurance needs, and other key financial areas. The purpose of a financial plan is to help people make informed decisions about their money so they can achieve their short-term and long-term goals while minimizing risks and maximizing opportunities. A well thought out financial plan helps individuals build wealth, secure their future, and live the life they want.