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3 min read
How to Interpret AIS and TIS on the Income Tax Portal: A Comprehensive Overview
"Simplify your tax process as we demystify the Annual Information Statement (AIS) and the Taxpayer Information…
4 min read
Tax-Loss Harvesting for FY2024-25: How to Set Off Loss from Stocks, Mutual Fund and Save Tax
Tax-loss harvesting is a financial strategy in which you sell investments at a loss and use…
3 min read
What Are Top Financial Challenges India’s Face in Today’s World?
Financial security has become a common concern for many in a world where economic uncertainty is…
4 min read
The Reality of Mumbai Realty
Mumbai, known as “Amchi Mumbai,” is a symbol of India’s strength and ambition. This lively city…
7 min read
Financial strategies when you are in your 20
Are you in your 20s and looking for ways to manage your finances? This article is…
6 min read
A Beginner’s Guide to Evaluating Mutual Funds
Are you new to investing in mutual funds? This beginner's guide will teach you how to…
4 min read
Residential Status and its Importance in Taxation
Your tax liability depends on your residential status so it is essential to understand how you…
4 min read
Adjusting the sails of your investment to the weather
Every time there’s a minor correction in the market, we hear the same concerns: “Markets are…
7 min read
Understanding Good Vs Bad Liabilities
Gain a clear understanding of good vs bad liabilities with our comprehensive guide.
5 min read
Direct Vs Regular Mutual Funds: What Shall You Opt?
Deciding between Direct Vs Regular Mutual Funds is one of the first dilemmas that new investors…
6 min read
Understanding the Role of Stablecoins in the Crypto Market
Explore the dynamic role of stablecoins in the crypto market as they bridge the gap between…
13 min read
Why Lifestyle-Based Financial Planning Matters
Have you ever wondered why some people breeze through life achieving financial goals, while you struggle…
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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.
