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Hallmark of a Balanced Portfolio: How to Strike the Right Equilibrium
Let’s today understand what we mean by a balanced portfolio and why we need to have…
8 min read
Sovereign Gold Bonds and Their Taxability
Have you considered investing in Sovereign Gold Bonds? Like what you're reading? Get our latest, straight…
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…
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…
3 min read
How to Maximise Tax Benefits With Rental Income
Ever wondered if investing in rental properties could be a wise financial decision? While the potential…
3 min read
Manual vs. Automatic Lending in India’s P2P Lending Market
Peer-to-Peer (P2P) lending is gaining significant traction in India, offering a unique opportunity for both borrowers…
4 min read
Exploring the Commercial Real Estate Terrain in India | “Temperament” by 1 Finance
In today’s dynamic world, commercial real estate investment in India stands as a booming sector, growing…
5 min read
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
5 min read
Who Are You, Financially? Discover Your Financial Personality With MoneySign® to Make Smart Money Decisions
Everyone has a unique personality, which shapes how we think, act, and interact with the world.…
5 min read
Building Blocks to Financial Well-being
Discover the essentials of financial well-being and gain practical insights to navigate personal finance in India…
5 min read
7 Best Premium Credit Cards in India for Travel and Unlimited Lounge Access
For high-income earners and affluent individuals, premium credit cards are more than just a payment method…
5 min read
How Can You Start Tax Filing in 2024?
Filing your Income Tax Return (ITR) in India can feel overwhelming, especially for first-timers. The complex…
Discover your MoneySign®
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
