Step 1 - Why
Why are you doing this? Is it for retirement? Is it for savings? Is it because you want to buy a house or send your children to university. There is always a reason why you are doing this in financial services
Step 2 - How
This is the vehicle that is used to do the planning in Step 1. This could be an investment portfolio; it could also be a property. If you want to retire, then you may use a conventional pension, a state pension and property to achieve this. If you want to protect your dependents from you dying, then an insurance policy will do this. The cost of the vehicle is key here
Step 3 - Where
This is the detail in step 2. Where do you allocate your investments? Is it in equities or bonds? Where do you buy the house? is it in the UK or Europe or Asia? How much cover do you need for the insurance to provide for your family if you are not there?