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5 min read
5 Key Steps to Plan a Financially Secure Life
In a world of constant change and uncertainty, achieving financial security is a common aspiration for…
5 min read
Understanding TDS on Purchase of Property
Tax Deducted at Source, more popularly known as TDS, is often a tedious process for the…
5 min read
Financial Well-Being vs. Financial Wellness: What’s the Difference?
Financial Well-Being focuses on long-term financial stability, while Financial Wellness emphasizes immediate financial health and day-to-day…
3 min read
Succession Certificate vs. Legal Heir Certificate: Understanding the Difference
When a person passes away without a will, transferring their movable and immovable assets can become…
What is Annuity Rate in NPS?
The National Pension System (NPS) is a popular retirement savings scheme in India designed to provide…
4 min read
Can I file ITR for the last 3 years?
Whether you’re applying for a bank loan or filing a visa application, income tax returns for…
5 min read
Set off and carry forward of losses in Income Tax
Navigate the complexities of income tax by mastering the set off and carry forward of losses…
5 min read
Creating a Will? Don’t Overlook Section 63 of the Indian Succession Act!
When it comes to safeguarding your legacy, creating a will is one of the most important…
4 min read
10 Things to Remember Before Investing for the First Time
Investing can be a powerful tool for wealth creation and securing financial stability. However, for first-time…
6 min read
How to Become SEBI Registered Investment Advisor: A Complete Step-by-Step Guide
Through a consultation paper it issued last year, SEBI acknowledged that India needs more RIAs (it…
Essentials & Importance of Writing a Will
What happens to everything you own after you die? Without a will, your life’s work could…
5 min read
Types of Wills in India: Know the differences
In India, wills are essential legal documents that allow individuals to specify how their assets should…
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.
