Why do you need to have liquidity? Answer: Liquidity allows you to access your money with ease, when you need it- Life happens; at any moment, you could develop an illness, lose a job, or wreck your car- When unforeseen circumstances occur, you need to have access to enough money to make it through. Proper financial planning can help you use your current income to achieve your long term financial goals"

What is the most important step in financial planning?
Monitoring Your Financial Progress. Regular communication and follow-up are important steps in the financial planning process. In fact, creating the plan is really just the first step. You'll have ongoing contact with your planner to find out whether you are on track to meet your financial goals.