1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Boosting Your Credit Score with Timely Credit Card Repayment
This blog examines the link between disciplined credit card usage and improving credit scores, offering practical…
5 min read
Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing
As we approach tax season, it is imperative to consider the critical link between tax planning,…
Why Are We Afraid to Plan for Bad Endings?
In Bhutan, thinking about death is as much of a daily ritual as eating or praying.…
7 min read
Who is a Fee-Only Financial Advisor?
In the past few decades, India’s financial sector has witnessed a troubling rise in the mis-selling…
3 min read
How Often Should You Rebalance Your Portfolio?
It’s that time of year when people plan fresh starts. While gym memberships are part of…
9 min read
How to Choose the Right Retirement Investments for Your Goals?
Are you wondering how to choose the right retirement investments for your goals?
3 min read
Claim Settlement Ratio: Is It Enough to Judge a Policy?
Source: IRDAI Annual Report, FY22, Public Disclosures of Insurer’s NL-37 Claims Data. Like what you're reading?…
10 min read
How to Manage Your FDs, Loans, Equities, and Real Estate After the RBI Repo Rate Cut of 25 Bps
The Reserve Bank of India has cut the repo rate by 25 basis points once again,…
3 min read
Retirement Funds or Equity Funds: What’s better?
Planning for a secure and comfortable retirement is a crucial financial goal for most people. With…
4 min read
Why HRs Must Address Employee Financial Wellbeing Now
The burden of financial stress weighs heavily on many employees, impacting their financial wellbeing. This persistent…
3 min read
What is Term Insurance Scoring and Ranking Model?
Selecting the right term insurance plan is a critical step in securing your family’s financial future.…
3 min read
How to Get Out of Debt Trap by Managing Your Finances Well
In today’s fast-paced world, it’s easy to fall into the trap of accumulating debt beyond our…
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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.
