1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Belated Return or Revision : Your Last Chance to File or Revise ITR for the Year 2022-23
When discussing personal finance, one topic we can’t overlook is income tax filing—an annual ritual where…
5 min read
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
4 min read
Where to Invest Your Monthly Surplus?
There are times when you have some additional money every month and you may not be…
3 min read
Lifestyle Inflation
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
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…
4 min read
Tax Benefits for Senior Citizens: A Comprehensive Guide
Navigating complex income tax rules can be challenging, especially for individuals in the later stages of…
7 min read
Your Path to Informed Mutual Fund Investment
1 Finance steps in to simplify this intricate landscape. We believe in empowering investors with the…
Why We Believe There Are 3 Generations of Wealth Creators
The journey of cultivating, multiplying and accumulating wealth unfolds over several generations, and while it’s certainly…
5 min read
Who should file an income tax return?
Tax season often creates a panicking situation amongst individuals to file income tax return. On the…
4 min read
Is Buying a Home a Good Investment?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Most Common Challenges People Face During Retirement Planning
“Retirement is a time to enjoy the things you never could before.” Like what you're reading?…
2 min read
Safeguarding Investments: What Happens When a P2P Lending Platform Shuts Down in India?
In recent years, Peer-to-Peer (P2P) lending platforms have gained significant traction in India as a popular…
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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.
