1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
5 Tailwinds for a Smooth Retirement Journey in India
“Don’t retire from something, retire to something” Retirement is a major transition in your life that…
6 min read
TCS Applicability on Foreign Remittance
TCS on foreign remittance ensures tax compliance while transferring money abroad, impacting both individuals and businesses.
4 min read
Why Will Drafting is the Most Important Piece in Your Financial Planning Jigsaw!
Discover the importance of drafting a will as a pivotal aspect of financial planning, ensuring that…
4 min read
Empowering Women in Finance: Beyond Stereotypes to Strength | Temperament by 1 Finance
In a world where financial empowerment is associated with independence, the journey to close the gender…
How Can I Financially Prepare for a Divorce?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
Mitigating Liability Risks: Strategies for Individuals and Families
This post details strategies and examples on managing liability risks and protecting assets, emphasizing the role…
5 min read
How to Save Taxes on Capital Gains: Exemptions Under Sections 54, 54EC, and 54F
Tax liability arising due to capital gains from the sale of capital assets like land, buildings,…
One on One with a Wedding Emcee
Newman D’silva has hosted over 500 events since 2013 — but that’s not all he’s been…
7 min read
How to Start an Investment Portfolio: A Step-by-Step Guide
Learn how to start your investment portfolio with our comprehensive step-by-step guide. Learn how to start…
3 min read
Home Loan Balance Transfer: Factors To Be Considered
A home loan balance transfer is when you move from one lender to the other with…
2 min read
Income Loss & Emergency Planning: Mastering Resilience in Uncertain Times | Temperament by 1 Finance
In an age where job security is a relic of the past, “Temperament” by 1 Finance…
9 min read
Decoding Taxation on Capital Gains
Gain insights into the intricacies of capital gains taxation and navigate the complexities of maximizing financial…
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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.
