1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
How Reactive Purchases Impact Our Carbon Footprint
It all began with a dressing gown. Like what you're reading? Get our latest, straight to…
3 min read
The Role of Financial Professional Coach in Your Retirement
While navigating the intricacies of retirement planning, it’s essential to recognize the value of seeking expert…
Why We’ve Set Up a Committee for Qualified Financial Advisors
As a financial institution, we think of 1 Finance as a place that takes care of…
3 min read
Managing Economic Cycles: A Comprehensive Guide Through Ups and Downs | Temperament by 1 Finance
Economic cycles, with their inevitable rises and falls, shape the financial landscape we navigate daily. Understanding…
Why Everyone Stands to Benefit from Estate Planning
When we speak of estate planning, what comes to mind is that it is a complex…
Is It Possible to Avoid Tax on Long-Term Capital Gains?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Unlocking the Benefits of Travel Insurance in India
Discover how Travel Insurance can safeguard your journeys and provide peace of mind while exploring India's…
The Sensory World of Online Shopping
It’s one of those days when you know that nothing but an iced coffee can make…
Can I Achieve Financial Freedom by 45?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
Financial Learnings We’re Carrying into 2023
Ushering in a new year comes with its fair share of reflection on the past, and…
What You Need to Create a Safety Net
We’ve often heard the adage that it is prudent to set aside some money ‘for a…
Estate Planning: A Guide to Leaving a Legacy, Not a Mess | Temperament by 1 Finance
In the world of financial planning, the conversation often revolves around wealth accumulation and management. However,…
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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.
