Anyone who has financial challenges to meet or financial goals to achieve, needs Financial Planning. Financial Planning ensures that the right amount of money is available in the right hands at the right point of time in future to achieve specific Financial Goals. Virtually anyone with moderate wealth or a decent income can avail the benefits of financial planning.
- Financial Planning is based on individual risk profiling, and it provides a road map to achieve financial goals
- Financial Planning helps you take a 'big picture' look at your financial position and it guides you to examine your current financial status and determine objectives. It takes into account every aspect (Assets, Income, Loan, Insurance, Taxes, Business Interests, Wills) of your current financial position.
- It helps in devising a strategy or plan for how you can meet your goals given your current situation and future plans. It also identifies weaknesses and recommends improvements.
- It puts in place the risk management system to meet uncertainties of life through efficient Insurance Planning, Tax Planning and Estate planning.
- Financial planning is the process of managing your money to achieve personal economic satisfaction. It allows you to control your financial situation and provides a feeling of security and less stress.
- It is a disciplined approach to managing your finances to reach life goals. It involves systematic & disciplined investment mechanism, which helps in creating wealth over a period of time. It helps you to become more responsible towards disciplined investing.
Financial Planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. By viewing each financial decision as a part of the whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.
