Introduction Financial plan is a sequential economic action which is supposed to be taken by an individual or business to achieve certain specific investment goals within a given future period. This is normally done in form of investment. In this case, Jossiah and Jemima Benson have money, time, strength, and opportunities but they are yet to decide on how to invest or apply this money. The application of this fund will depend on certain factors such as their age, lifestyle, investment attitude, to name a few. Furthermore, their investment would depend on whether they are risk takers (Peteraf 1993, p. 180). Let us, therefore, analyse them below. Lifestyle plan This is basically one’s way of life. Lifestyle of an individual is likely to affect his or her spending habit. A lifestyle characterised by a lot of luxuries and impulse expenditure is likely to be expensive resulting to low or no saving and consequently low or no investment. A well planned lifestyle is therefore significant or a factor to better investment. Advice If Jossiah and Jemima are planning to invest wisely without going through avoidable financial challenges, they must make sure their life is characterised by wise spending. In that way, they would avoid impulse spending and direct their money that would otherwise be spent on other things from investment. Goal setting Goal setting and budgeting could as well mean the same thing. In this case, an individual has an idea in mind that he or she wants to execute or achieve. Normally, goals are set to be achieved within a span of time. Achievable goals are also vital to success as they contribute to moral boost. Advice The couple (Jossiah and Jemima) need to stipulate clearly what their goals are and how they are going to be achieved, and whether they are achievable or not within the span of time. In this case, the timeline within which they intend to achieve these goals of buying a car, a house and the long term investment should be laid down clearly. Investment plan This is an arrangement of a portfolio intended to be executed by an individual (investor). A good investment portfolio is vital for success. An investment plan outlines what investment is to be executed by an investor. Advice As stated in their profile, they are willing to take a risk, which makes them risk takers. They first need to evaluate what investment opportunities are available for them. They need a portfolio that gives them good returns. If they choose to invest in shares then it must promise them very high returns because the investor’s attitude is already aggressive meaning that they are willing to take risks. If they intend to purchase an investment it should as well promise better returns. Taxation plan This is the arrangement of affairs by an investor or individual in order to pay less tax to authorities. Tax planning is legal but tax evasion is not. Good tax planning enables an investor to put his or her monies in investments or savings that are likely to give tax reliefs or allowances. Advice They should arrange their affairs in a manner that makes them pay minimal taxes without breaking the tax rules that is, without evasion. This can be realized by advising them to put their money in areas that would give them tax reliefs or allowances such as investing in government bills and bonds, taking a long term ins