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3 min read
REITs & InvIts: SEBI Proposes Higher Mutual Fund Investment Limits in REITs & InvITs, What It Means for You
The Securities and Exchange Board of India (SEBI) has proposed a major policy shift aimed at…
3 min read
Top 5 Tax-Saving ELSS Mutual Funds in February 2025
Are you looking for ways to reduce your taxes? We often tend to buy random investment…
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…
3 min read
3 Essential Questions You Need to Ask Your Insurance Advisor
When it comes to insurance, it’s not just about picking a policy and paying the premiums—it’s…
3 min read
How to Look For a Home Loan: A Comprehensive Guide
Purchasing your dream home is an exciting milestone, but it often requires taking on a long-term…
3 min read
Planning to pause your SIP during a market crash? Think again!
While systematic investment plans (SIPs) continue to be one of the best ways to grow wealth…
5 min read
What is asset allocation? Understanding its meaning, importance, advantages, and disadvantages
Asset allocation means spreading your money across different types of investments, like stocks, bonds, gold, and…
4 min read
How to Choose the Correct ITR Form: A Guide to Choosing the Right Income Tax Return Form
As the tax season approaches, one of the most crucial decisions taxpayers face is selecting the…
3 min read
Things to Consider While Choosing a Crypto Wallet
Introduction Cryptocurrency wallets are essential tools for securely storing and managing digital assets. With multiple options…
7 min read
Who is a Fee-Only Financial Advisor?
In the past few decades, India’s financial sector has witnessed a troubling rise in the mis-selling…
5 min read
How to Report Capital Gains Correctly in Your ITR
ITR filing seems complicated especially when you have income from capital gains. However, with a clear…
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…
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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.
