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4 min read
How We Factor Your Life Stage into Your Financial Plan
We think of financial planning as a holistic exercise that should be attuned to who you…
5 min read
How to Create a Balanced Investment Portfolio in India
Are you looking to create a balanced investment portfolio that gives you the best of both…
5 min read
How 1 Finance Applies the ‘Three Generations of Wealth Creators’ Framework in Financial Planning
Financial planning is not a one-size-fits-all approach. Each individual has unique financial goals, challenges, and levels…
4 min read
Closing a Loan: Key Things to Keep in Mind
When it comes to personal finance, loans are often a necessity for major purchases or investments,…
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…
2 min read
Understanding CAGR and XIRR: Which One Should You Use to Calculate Investment Returns?
The objective of any investment is to generate returns, and while calculating the returns, investors come…
4 min read
Factors to Consider Before Making a Loan Prepayment
Tired of long nights spent tossing and turning, kept awake by thoughts of towering debt or…
3 min read
Why 1 Finance Is More Than Just a Fintech Company
At the outset, as you begin your journey with us, we want to share our biggest…
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…
4 min read
The WazirX Hack: A Detailed Account and Response Measures
On July 18, 2024, the Indian crypto exchange WazirX faced one of the most significant security…
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.
