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1 Finance Blog

Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.

What It Takes for Successful Retirement Planning?

Retirement Planning

4 min read

What It Takes for Successful Retirement Planning?

Retirement planning is not just a financial necessity; it is a fundamental aspect of securing your…

3 Essential Questions You Need to Ask Your Insurance Advisor

Insurance

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…

How to Choose the Correct ITR Form: A Guide to Choosing the Right Income Tax Return Form

ITR Filing

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…

How to Download NPS Statement

NPS

2 min read

How to Download NPS Statement

Tracking your National Pension System (NPS) contributions is crucial for financial planning. The NPS statement provides…

The ‘safe’ illusion: Hidden risks of directly investing in bonds and a smarter alternative

Mutual Fund

8 min read

The ‘safe’ illusion: Hidden risks of directly investing in bonds and a smarter alternative

Bonds are often considered “safe” investment options. With decent returns, lower risk compared to equities, and…

How to Choose a Health Insurance Plan in India

Insurance

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…

Section 43B of the Income Tax Act

Tax Planning

5 min read

Section 43B of the Income Tax Act

As a business owner or a self-employed taxpayer who isn’t on a monthly payroll, you’re probably…

Sovereign Gold Bonds and Their Taxability

Tax Planning

8 min read

Sovereign Gold Bonds and Their Taxability

Have you considered investing in Sovereign Gold Bonds?  With physical gold trading at high prices, these…

All about NPS Vatsalya

NPS

3 min read

All about NPS Vatsalya

NPS Vatsalya is a newer initiative within India’s National Pension System (NPS) designed specifically to help…

Factors to Consider Before Making a Loan Prepayment

Loan Planning

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…

Estate Planning and Wealth Transfer Strategies in Modern India

Estate Planning

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…

How 1 Finance Applies the ‘Three Generations of Wealth Creators’ Framework in Financial Planning

Personal Finance

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…

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Frequently Asked Questions

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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.

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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.

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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.

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