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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…
4 min read
Difference Between Multi-Cap and Flexi-Cap Funds: Which One Should You Choose?
As an investor, you must be looking for a mutual fund that does it all, capturing…
5 min read
How to File an Income Tax Return?
After the digitisation of the ITR request procedure, filing your ITR has become easier than ever.…
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…
3 min read
The Income Tax Bill 2025: A New Era of Taxation in India
In a significant move aimed at refining the tax framework, Finance Minister Nirmala Sitharaman tabled the…
5 min read
Portability in Health Insurance: Empowering Policyholders with Choice and Flexibility
Imagine you’re at a bustling train station, about to board a train to your next big…
5 min read
Comprehensive Guide to Exchange-Traded Funds (ETFs): What You Need to Know
Exchange-Traded Funds (ETFs) have become increasingly popular investment vehicles in recent years, offering a hybrid between…
5 min read
NPS Investment for Additional Tax Deduction: Is it a Beneficial Choice?
This article assesses the pros and cons of investing in NPS for tax deductions, aiding informed…
4 min read
Jio Financial Services and BlackRock Join Hands: A Game-Changing Inflection Point in India’s Asset Management Industry
Jio Financial Services collaborates with BlackRock, marking a transformative moment in India's asset management landscape. This…
3 min read
Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps
Peer-to-Peer (P2P) lending has emerged as a popular alternative to traditional banking, offering individuals and businesses…
3 min read
What is Crypto Scoring and Ranking?
Navigating the dynamic world of cryptocurrencies, especially within the decentralised finance (DeFi) sector, can be challenging…
How Our Commission Analyser Helps Review Your Mutual Funds
In India, financial products aren’t always sold to you in your best interests. Mis-selling is rampant,…
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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.
