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How to Withdraw Funds from NPS Online
The National Pension System (NPS) is designed to provide long-term financial security, but subscribers may need…
How Would Having a Child Impact My Finances?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
5 min read
Demystifying Life Insurance in India: Exploring Different Policy Options
Secure your family's future with our essential guide to understanding life insurance policies in India, aiding…
4 min read
Super Top-Up Health Insurance
This blog delves into the critical aspects, benefits, and comparisons of Super Top-Up Health Insurance and…
5 min read
What Are ETFs? How ETFs Work? and What are Types of ETFs?
As of December 31, 2024, the Indian mutual fund industry’s Assets Under Management (AUM) reached ₹66.93…
5 min read
The Big Deal About Investing Early in the Indian Market
Investing early is often emphasised by financial advisors, but what makes it such a big deal?…
3 min read
Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time
When it comes to wealth accumulation, consistently increasing your investment contributions can have a significant impact.…
3 min read
7 Out of 10 Indians Dream of Owning Their a House
Owning a home is a quintessential part of the Indian dream. A recent study reveals that…
4 min read
Rights of Banking Consumers and how they can raise their concerns
In the month of October, 2023, the Reserve Bank of India (RBI) penalised two of the…
6 min read
REITs vs. InvITs: Where Should You Invest in 2025?
In recent years, the Indian investment landscape has broadened well beyond traditional choices like stocks, bonds,…
2 min read
Credit Wisdom Unveiled: Navigating the Perks and Pitfalls of Credit Cards and BNPL | Temperament by 1 Finance
In a world where instant gratification is often a click away, understanding the nuances of modern…
3 min read
Why Should You Evaluate Your Existing Portfolio Before Making a New Investment?
More often than not, I have received calls from investors asking me to add a new…
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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.
