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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
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…
3 min read
What is NPS in Salary?
The National Pension System (NPS) is a voluntary retirement savings scheme introduced by the Government of…
4 min read
Are Millennials Worse Off than Baby Boomers?
For her 31st birthday, Charu, a high-level marketing executive with a large MNC, decided to treat…
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…
5 min read
India’s Great Wealth Transfer: Will and estate planning to take centre stage
You’re about to witness something India has never seen before. Over the next few years, a…
5 min read
Is the F.I.R.E concept possible ?
By definition, it is a known fact that ‘retirement’ is a stage in life when a…
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…
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…
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…
18 min read
What is Retirement Planning?
Life has many phases: birth, childhood, youth, middle age, and finally, retirement. Here, we focus on…
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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.
