Financial planning involves setting goals, creating a budget, managing debt, saving for emergencies, investing, and preparing for retirement. It is the process of aligning one's financial resources with their objectives to achieve long-term financial security and stability. 

Risk management is the process of identifying, assessing, and mitigating potential risks that could impact an individual or organization's objectives. It involves evaluating the likelihood and potential impact of risks, implementing strategies to minimize or transfer them, and continually monitoring and adapting to changing risk factors. 

Peace of mind is a state of inner calm and contentment, free from worry or anxiety. It is the assurance that comes from knowing that everything is in order and under control. Achieving peace of mind often involves having a sense of security, clarity, and confidence in one's decisions and circumstances.