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6 min read
Why Hire Professionals for Tax Planning?
Discover how a CA/Tax expert optimizes tax planning, increasing savings, ensuring compliance, and reducing e-filing errors.
4 min read
Simple Steps to Apply for Refund Re-issue
Introduction It is officially that time of the year when office WhatsApp groups are overflowing with…
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.…
4 min read
Term Insurance against Home Loan
Are you contemplating the best way to secure your home and ensure your family’s financial stability?…
2 min read
How to Save Tax Legally in India
Everyone pays tax in some way or the other — and as we experience upward mobility and…
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.…
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…
5 min read
Family, Finance, and the Future: Your Roadmap to Inheritance Planning
Navigate the intricate intersection of family dynamics, financial legacy, and future planning with our expert guidance.
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…
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
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…
Discover your MoneySign®
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.
