Financial Planning Topics and Sample Questions

Financial planners must master nearly 100 financial topics to obtain CERTIFIED FINANCIAL PLANNER™ certification, and those topics fall in the categories listed below. Each volunteer at the Financial Planning Clinic will be assigned to a specific topic he or she is especially interested in discussing, but each volunteer holds the CFP® certification and is knowledgeable about all the financial planning topics below.

GENERAL FINANCIAL PLANNING

• Purchasing a Home – Should I buy or rent? What type of mortgage should I get?
  
• Debt Management – How do I reduce my overall debt?
  
• Building a College Fund – How do I finance my child's college education?
  
• Savings Goals – How much money should I have in my emergency fund?
  

SPECIAL CIRCUMSTANCES

• Job Loss and Job Change – How do I financially plan for a job loss?
  
• Foreclosure Assistance – How can I avoid losing my property to a foreclosure?
  
• Change in Marital Status – How do I financially plan for a divorce?
  

INVESTMENT PLANNING

• Investment Strategies – How do I maximize gains and minimize taxes?
  
• Asset Accumulation – How should I diversify my portfolio, given my risk tolerance?
  
• Generating Investment Income – What investment vehicles should I consider to generate income?
  
• Real Estate - Should I invest in real estate?
  

RETIREMENT PLANNING

• Building a Retirement Fund – What retirement vehicles should I consider when building my nest egg?
  
• 401(k) and 403(b) Plans – How do I pick the investments for my 401(k) or 403(b) plan?
  
• IRA Accounts – Should I choose a traditional or Roth IRA?
  
• Social Security – How much will I receive in Social Security benefits when I retire?
  

INCOME TAX PLANNING

• General Tax Return Filing – Should I file my taxes as single or married?
  
• Tax Reduction Strategies – What tax deductions can I take?
  
• Charitable Contributions – How do I maximize the tax advantages of my charitable contributions?
  
• Small Business Taxation – How can I position my small business to minimize my taxes?
  

ESTATE PLANNING

• Building an Inheritance – What estate planning vehicles should I consider when building an inheritance?
  
• Wills and Trusts – Should I set up a will or a living trust?
  
• Estate Tax Strategies – How do I reduce my estate taxes?
  
• Incapacity Planning – How do I appoint a Power of Attorney?
  

INSURANCE PLANNING

• Life Insurance Coverage – How much life insurance do I need?
  
• Disability Insurance – Do I need additional disability insurance?
  
• Long-term Care Planning – What kind of long-term care insurance should I consider?
  
• Property and Casualty Insurance - How should I insure my home?
  

EMPLOYEE BENEFITS

• Managing Health Insurance – Does my family have adequate health insurance?
  
• Health Savings Accounts – Should I open a Health Savings Account (HSA)?
  
• Incentive Stock Option Plans – How is my investment income taxed?