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3 min read
What is Arbitrage Fund?
Investors often seek safe and consistent options for parking their money, especially in volatile markets. One…
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 min read
Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
4 min read
Why Term Insurance is a Pure Risk Protection Plan
In the bustling city of Mumbai, amidst the chaos of daily life, Rohan, a young professional,…
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
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…
7 min read
Understanding Cancer Insurance: A Shield Against Uncertainty
In today’s world, health concerns are ever-present, with cancer being one of the most dreaded diagnoses.…
4 min read
Navigating the Claims Process: Tips for a Smooth Experience with Health Insurance in India
Navigating the claims process can be a daunting task for many individuals when it comes to…
4 min read
Secure Your Legacy A Comprehensive Guide to Drafting a Will
Navigate the complexities of estate planning with our comprehensive guide on drafting a will in India;…
4 min read
What is Annual Information Statement (AIS)?
Tax filing season can often be stressful, with numerous forms and records to keep track of.…
4 min read
High time Personal Finance is taught as a subject in school!
We are in constant awe of kids these days being so ‘tech-savvy’ and better than us…
4 min read
Hedge funds vs. Mutual funds : Know the differences
Hedge funds and mutual funds might look similar at first—they both pool money from investors and…
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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.
