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Are Millennials Worse Off than Baby Boomers?
For her 31st birthday, Charu, a high-level marketing executive with a large MNC, decided to treat…
6 min read
Fund Manager vs. Wealth Manager vs. Financial Planner: Who They Are and Who You Really Need
India’s economy is growing fast. The average income is rising, but most people still don’t know…
Here’s the Most effective Strategy for Retirement Planning
What is Retirement Planning? Retirement planning involves preparing today for your future life so that you…
4 min read
Should You Invest in NFOs or Existing Mutual Fund Schemes?
Choosing between a new fund offer (NFO) and an existing mutual fund scheme depends on personal…
5 min read
How to File Income Tax Return Online Using Form 16?
Introduction If you are new to filing your own ITR request, chances are that you have…
3 min read
Understanding Fixed and Variable Income Investments: Where Does P2P Lending Fit?
Investing involves understanding different types of income investments to balance your portfolio effectively. This blog will…
3 min read
Estate Planning and Wealth Transfer Strategies in Modern India
Modern India has evolved a lot. The marked shift in the structure of our demographic, be…
5 min read
Is the F.I.R.E concept possible ?
By definition, it is a known fact that ‘retirement’ is a stage in life when a…
6 min read
What is 80C in income tax?
When it comes to tax planning, the first thing that often comes to mind is Section…
5 min read
7 Best Premium Credit Cards in India for Travel and Unlimited Lounge Access
For high-income earners and affluent individuals, premium credit cards are more than just a payment method…
How We Factor Your Life Stage into Your Financial Plan
We think of financial planning as a holistic exercise that should be attuned to who you…
4 min read
Closing a Loan: Key Things to Keep in Mind
When it comes to personal finance, loans are often a necessity for major purchases or investments,…
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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.
