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4 min read
Behind the Scenes of Building MoneySign®
When we set out to build 1 Finance, one of the things we had the most…
4 min read
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 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
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
Can you claim both HRA and home loan deductions?
Many people in India have purchased homes using loans and are paying installments. The Income Tax…
4 min read
What Is P2P Lending in India? How Peer-to-Peer Lending Works, Benefits, Risks, and Much More
When you need a loan, the first thing that usually comes to mind is a financial…
5 min read
The Consequences of Not Filing Income Tax Returns (ITR)
This blog highlights the importance and consequences of timely Income Tax Return (ITR) filing, focusing on…
4 min read
Financial Well-Being for Kids & Teens: A Teaching Guide
Empower future generations with financial literacy through this essential guide to teaching kids and teens about…
4 min read
What’s the Difference Between TDS and TCS? Explained Simply!
This blog post explores the differences between Tax Deduction at Source (TDS) and Tax Collected at…
5 min read
Investing in unlisted shares? Here are the risks that every retail investors should know about
Unlisted shares are tempting, but investing in them is full of risk and danger.
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…
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…
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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.
