Meaning of the word "financial plan" in English

What does "financial plan" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

financial plan

US /faɪˈnænʃəl plæn/
UK /faɪˈnænʃəl plæn/
"financial plan" picture

Noun

1.

a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans

Example:
Creating a solid financial plan is crucial for retirement.
Our advisor helped us develop a personalized financial plan.
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