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6 min read
ESOPs and Their Taxation
As the startup ecosystem is growing in India, companies often offer ESOPs or similar compensation plans…
8 min read
Financial Strategies When You Are In Your 30
Are you in your 30s and looking for ways to improve your financial situation? Get practical…
5 min read
Why Financial Planning Is the Key to Unlocking Your Peace of Mind: Here’s How
In today’s fast-paced and ever-changing world, achieving peace of mind can feel like an elusive goal.…
3 min read
Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool
Investing in mutual funds is a popular strategy for diversifying one’s portfolio and achieving financial goals.…
3 min read
What is Portfolio Rebalancing? How does Portfolio Rebalancing Work?
They say asset allocation is the key. What do they mean by this? Let’s say that…
4 min read
What is Form 60: How to Fill and Download Form 60?
Introduction Have you ever tried making a substantial, high-value transaction but failed to do so because…
6 min read
Deduction and Exemptions from Income Tax
Tax planning is essential for effectively managing your finances. Income tax laws offer several deductions and…
5 min read
What is a REIT in India and How Can You Invest in REIT?
Imagine owning a piece of premium commercial real estate in Mumbai, Bangalore, or Delhi—without shelling out…
2 min read
5 Key things to know before making a Will
Understanding that Will-making is important is a great start to ensuring that your assets are given…
4 min read
Benefit of opting for the New Tax Regime
Taxpayers are often confused when it comes to choosing between the new tax regime and the…
3 min read
Why Investing in Thematic Mutual Funds is Not the Right Strategy
Investing in mutual funds has long been a favored strategy for those seeking diversified exposure to…
5 min read
How Can You Be Financially Ready for the Arrival of a Child?
The arrival of a child is one of the most significant milestones in life, bringing immense…
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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.
