1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Why It Helps to Know Your Investment Horizon
The investment horizon — sometimes called the investor’s time horizon — is a fairly simple concept.…
3 min read
A Step-by-Step Guide to Transfer Your EPF Online
Transferring your Employees’ Provident Fund (EPF) account when you change jobs is essential to ensure the…
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
Comprehensive Guide to Exchange-Traded Funds (ETFs): What You Need to Know
Exchange-Traded Funds (ETFs) have become increasingly popular investment vehicles in recent years, offering a hybrid between…
4 min read
The Psychology of Wealth: Navigating Financial Success with Mindset Mastery | Temperament by 1 Finance
In a world increasingly focused on material wealth, understanding the psychological aspects of money is key…
4 min read
Jio Financial Services and BlackRock Join Hands: A Game-Changing Inflection Point in India’s Asset Management Industry
Jio Financial Services collaborates with BlackRock, marking a transformative moment in India's asset management landscape. This…
5 min read
5 Horsemen of Solid Personal Financial Planning
Throughout history one question has been consistently pondered upon- what constitutes a well-lived life? While the…
4 min read
How Financial Planning Can Help you?
When it comes to dreaming about a life well lived, personal finance can’t be ignored. Think about…
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…
3 min read
Manual vs. Automatic Lending in India’s P2P Lending Market
Peer-to-Peer (P2P) lending is gaining significant traction in India, offering a unique opportunity for both borrowers…
3 min read
A Comprehensive Guide to Personal Liability Protection for Safeguarding Your Assets
This post provides insights into personal liability, outlining strategies and real-life examples to secure your assets.
4 min read
Understanding Personal Inflation Rate: The Ultimate Guide
Gain comprehensive insights into calculating and comprehending your personal inflation rate in India with this ultimate…
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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.
