Personal Finance
5 min read
Planning for Financial future: Where to start?
Welcome to the exciting world of financial planning! Are you ready to take charge of your…
4 min read
The Weight of Money On Your Mind: How Finances Affect Your Well-being
Money is known to be the great enabler that puts the life you desire within reach.…
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Financial Well-Being for Kids & Teens: A Teaching Guide
Empower future generations with financial literacy through this essential guide to teaching kids and teens about…
2 min read
How Will the Budget 2024 Affect Your Gold Investments?
The Union Budget 2024 brings significant changes to the taxation of gold investments, which could impact…
4 min read
Six Myths Around Women and Money
Each year, March month becomes a whole month of celebration for women in every field. Being…
3 min read
Here’s the Impact Buying a Home Has on Your Financial Health
Buying a home is the biggest and probably the costliest financial decision we make in our…
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Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
4 min read
Effective Budgeting Strategies for Young Professionals
For most young adults, their early-mid twenties are a transitional period. This is usually when you’ve…
3 min read
What is a Financial Planning Centre?
Your financial future is a vital part of your life. It encompasses your dreams, your security,…
3 min read
Emergency Funds: Why You Need One and How to Build It
Discover the value of an emergency fund as your personal financial buffer, empowering you to handle…
3 min read
The Role of a Financial Advisor in Retirement Planning
By the textbook definition, ‘retirement’ is a stage in life when a person decides to quit…
5 min read
5 Horsemen of Solid Personal Financial Planning
Throughout history one question has been consistently pondered upon- what constitutes a well-lived life? While the…
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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.
