1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
How to File an Income Tax Return?
After the digitisation of the ITR request procedure, filing your ITR has become easier than ever.…
6 min read
Retirement Income Planning: How to Make Your Savings Last?
Are you worried about running out of money in retirement? Our article on retirement income...
4 min read
Navigating the Future: Comprehensive Retirement Planning for Indian Parents | Temperament by 1 Finance
India is on the brink of a profound demographic shift, transitioning towards an ageing society with…
3 min read
How to Choose a Health Insurance Plan in India
Purchasing health insurance is a critical financial decision that can shield you from economic hardship in…
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Why Term Insurance is a Pure Risk Protection Plan
In the bustling city of Mumbai, amidst the chaos of daily life, Rohan, a young professional,…
5 min read
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
3 min read
Exploring DeFi: Decentralized Finance
Exploring DeFi, the Financial Landscape with Decentralized Finance and Cryptocurrencies with its features and data.
4 min read
Why HRs Must Address Employee Financial Wellbeing Now
The burden of financial stress weighs heavily on many employees, impacting their financial wellbeing. This persistent…
9 min read
5 Key Retirement Planning Strategies for Every Age
Whether you're just starting your career or nearing retirement age, this article outlines 5...
4 min read
The Importance of Will Drafting: A Crucial Step Towards Financial Prudence
Understand the significance of will drafting as an essential measure towards achieving financial prudence.
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Income Tax Notices for Salaried Individuals: Dos and Don’ts to Stay Compliant
Navigate the complexities of income tax returns with our guide on how to avoid tax notices,…
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How to Choose the Right Retirement Investments for Your Goals?
Are you wondering how to choose the right retirement investments for your goals?
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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.
