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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.…
4 min read
Everything You Need To Know About Hindu Undivided Family: What Is Hindu Undivided Family And How To Create One?
When it comes to tax planning in India, the Hindu Undivided Family (HUF) structure is a…
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
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…
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…
5 min read
Things to Consider Before Filing Revised Income Tax Return
Introduction With all the hubbub around filing income tax returns before the 31st of July, 2024,…
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…
4 min read
SEBI’s Mutual Fund Categorisation Guide That Every Investors Should Understand
In 2017, the Securities and Exchange Board of India (SEBI) introduced new guidelines to categorise and…
3 min read
Should You Opt For Arbitrage Funds For Your Emergency Corpus?
Arbitrage Funds vs. Liquid Funds: The Best Option for Emergency Funds? The tax efficiency of arbitrage…
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…
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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.
