1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
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…
5 min read
How to Choose a Financial Advisor in India
A survey by 1 Finance found that 47% of respondents believed that regular financial planning sessions…
Behind the Scenes of Building MoneySign®
When we set out to build 1 Finance, one of the things we had the most…
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…
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?…
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…
How Does India invest? A Look Into 2023 Report
Investments are often a window into a nation’s economic pulse and the confidence of its people.…
5 min read
What is a REIT in India and How Can You Invest in REIT?
Imagine owning a piece of premium commercial real estate in Mumbai, Bangalore, or Delhi—without shelling out…
Should Fixed Deposits Be a Part of Your Financial Plan?
Fixed deposits, or FDs, have been a mainstay of the Indian financial landscape for a very…
2 min read
How Will the Budget 2024 Affect Your Gold Investments?
The Union Budget 2024 brings significant changes to the taxation of gold investments, which could impact…
3 min read
Decoding Economic Trends: What They Mean for Your Personal Finances
Uncover the impact of economic trends on your personal finance and harness this knowledge for informed,…
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…
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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.
