Creating an Annual Financial Review Process

Design a comprehensive annual financial review process aimed at evaluating current financial health, setting new financial goals, and adjusting strategies. Outline a step-by-step plan including: 1) Current Financial Assessment: Analyze assets, liabilities, income, and expenses, identifying areas of improvement. 2) Goal Setting: Define clear, measurable financial goals for the coming year, considering both short-term and long-term objectives. 3) Strategy Adjustment: Develop strategies to achieve these goals, proposing methods such as budgeting adjustments, saving plans, or investment reallocations. 4) Performance Metrics: Establish criteria to regularly measure progress throughout the year. Provide templates or examples for each stage, and suggest tools or methods to aid in the analysis and implementation. Aim for clarity, precision, and applicability in each aspect.