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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.…
What is Stamp duty on Gift deeds?
When it comes to transferring property or assets, a gift deed is one of the most…
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…
6 min read
How to Save Tax on Capital Gains from sale of Residential house property?
Learn how to minimize your tax liability and maximize profits when selling a residential house property…
5 min read
Budget 2025: New income tax slabs, other key Budget announcements that will impact your personal finance
In her Budget 2025 address, Finance Minister Nirmala Sitharaman declared her tax proposal’s objective to be,…
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…
7 min read
New ITR filing due date: When is the last date to file ITR, belated ITR, revised ITR for FY 2024-25 (AY 2025-26)?
Taxpayers across India are gearing up to file their income tax returns (ITRs) for the financial…
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.…
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…
5 min read
Section 80 Deduction List
Tax planning plays a vital role in managing your finances effectively. Amongst many deductions in the…
Discover your MoneySign®
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
