Financial planning can be a great way to build wealth, save for retirement or just be smart with your money. If you have a financial planner who makes investments for you, then make sure that you are aware of the tax implications of each of those investments. Since different kinds of investments are taxed in different ways, staying on top of this issue can either save you a lot of money or keep you out of trouble with the IRS. Either way, you'll be glad you looked into it.