A financial plan is a thorough assessment of an investor’s present and future financial situation. It uses current data to project future cash flows, asset values, and withdrawal strategies. Most individuals collaborate with their chosen financial planner, taking into account their current net worth, tax liabilities, asset allocation, and retirement or estate plans to create a comprehensive financial strategy. These factors, along with forecasts of asset growth, help determine if an individual's financial goals are achievable or what actions must be taken to secure those goals for the future.