1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Avoid These 8 Common Mistakes While Drafting Your Will: A Comprehensive Guide
Explore common pitfalls in will drafting and discover insightful tips to create a robust will for…
3 min read
5 Essential Considerations For Building a Robust Retirement Fund
As the future looms closer, the prospect of retirement often feels like an elusive dream—one that…
6 min read
How Can Understanding the Economy Improve Your Financial Planning?
The economy is ever-changing, but with knowledge, you can be prepared. It’s not just about reacting…
5 min read
The Global Peer-to-Peer Lending Scenario: A Transformative Financial Landscape
Peer-to-peer (P2P) lending has evolved from a niche financial service into a global phenomenon, reshaping the…
5 min read
SPIVA Report – Unveiling the Active vs. Passive Debate
The ongoing debate between active and passive funds has become a staple in the financial world.…
4 min read
Travel Insurance Essentials: Your Passport to Worry-Free Journeys
Discover Types, Pre-Purchase considerations, and a Hassle-Free Claims Process.
3 min read
How to Build a Good Credit Score
What constitutes credit can be a vague, elusive and somewhat intimidating concept, despite how ubiquitous it…
How to Change Nominee in NPS
The National Pension System (NPS) allows subscribers to designate a nominee who will receive the accumulated…
3 min read
How Not to Plan Your Finances: Common Pitfalls to Avoid
Financial planning is a cornerstone of achieving long-term financial security and stability. However, not all financial…
5 min read
What is the Unified Pension Scheme (UPS)?
Recently, the Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024. UPS or…
6 min read
Advance Tax in India: A Guide for Individuals
Demystify advance tax in India and take control of your financial obligations with this comprehensive guide…
3 min read
Navigating Tax Implications of P2P Lending in India
Peer-to-Peer (P2P) lending, also known as social lending, is gaining significant traction in India as a…
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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.
