NPS
3 min read
Understanding the Different Types of NPS: Simplifying Your Retirement Planning
The National Pension System (NPS) is one of the most popular retirement savings options in India.…
4 min read
National Pension System(NPS): An effective Retirement vehicle
India's NPS is a government-backed retirement scheme with flexibility, tax benefits, and diverse investment options for…
3 min read
Does NPS Come Under 80C Deductions? What are Tax Application on NPS
One of the key benefits of investing in the National Pension System (NPS) is its tax-saving…
3 min read
All about NPS Vatsalya
NPS Vatsalya is a newer initiative within India’s National Pension System (NPS) designed specifically to help…
5 min read
NPS Investment for Additional Tax Deduction: Is it a Beneficial Choice?
This article assesses the pros and cons of investing in NPS for tax deductions, aiding informed…
2 min read
How to Download NPS Statement
Tracking your National Pension System (NPS) contributions is crucial for financial planning. The NPS statement provides…
8 min read
Considering NPS Vatsalya for Your Child’s Future? Explore the Pros and Cons Before Investing
Considering NPS Vatsalya for your child's financial future? This pension tool helps build long-term wealth and…
2 min read
What is NPS Balanced Life Cycle Fund?
The National Pension System (NPS) offers multiple investment options for retirement planning, including auto-choice investment strategies.…
2 min read
What is Tier 1 NPS?
NPS is divided into Tier 1 and Tier 2 accounts, each serving different investment purposes. Tier…
2 min read
Who Should Invest in NPS Balanced Life Cycle Fund?
The National Pension System (NPS) offers different investment strategies to help individuals plan for their retirement.…
3 min read
How to Apply for NPS
The National Pension System (NPS) is a government-backed retirement savings scheme designed to provide financial security…
2 min read
What is Tier 2 NPS?
Tier 2 NPS is a voluntary savings account that offers flexibility in withdrawals, unlike the Tier…
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Frequently Asked Questions
What is financial planning?
Financial planning is the process of evaluating your current finances and making a plan to map your journey to financial well-being.
It involves looking at all aspects of your financial life - income, savings, debt, investments, etc.
The aim is to understand where you stand today financially and then chart a course to get you where you want to be in the long run.
Financial planning provides direction and structure to your finances. It helps you intentionally move toward financial wellness.
The plan equips you to prepare for expected life events like retirement as well as unexpected events.
In short, financial planning bridges your present circumstances to your desired financial future. It gives you a path to follow.
What are the benefits of working with a financial advisor?
Working with a financial advisor can provide an invaluable perspective on your current situation. With the help of a financial advisor, you can assess your finances holistically - debts, assets, income streams, and more. With this comprehensive understanding, the advisor helps craft strategies tailored to your needs.
A financial plan crafted by a qualified advisor grants you agency over your financial life. It transforms vague anxiety about the future into proactive preparation. With expert guidance, you can map out actionable steps to strengthen your finances over time.
Why is financial planning important?
Financial planning is important because it provides clarity and control over your finances.
Having a financial plan helps you:
- Understand where you stand financially today
- Map out specific steps to improve your financial situation
- Prepare for major life events like marriage, child’s education, retirement etc.
- Budget effectively and evaluate your investment portfolio
- Strategic Tax Planning & Filing
- Manage and reduce debt
- Being financially ready for emergencies
- Creating a will to preserve your legacy
In short, financial planning is essential for financial stability and peace of mind. It gives your finances direction and purpose. With proper planning, you can take charge of your money and build financial security.
