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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…
3 min read
Investing Showdown: Real Estate vs. Stocks – Where to Put Your Money?
Join us as we unpack the 'Real Estate vs. Stocks' dilemma for Indian investors, guiding you…
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…
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
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
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…
7 min read
5 types of credit cards in India in 2025: Find out which one suits you best
Before saying yes to any credit card offer, know exactly what kind of card it is.…
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…
4 min read
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…
4 min read
The Psychology of Wealth: Navigating Financial Success with Mindset Mastery | Temperament by 1 Finance
In a world increasingly focused on material wealth, understanding the psychological aspects of money is key…
3 min read
Cold Wallets: The Gold Standard of Crypto Security
The cryptocurrency market continues to expand, bringing increased security concerns for investors. With cyber threats on…
3 min read
What is Lifestyle Inflation?
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
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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.
