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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?…
How Can I Financially Prepare for a Divorce?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
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…
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.…
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
How you can Minimise Tax Impact When Selling Property in 2024
Selling property can be a rewarding experience, but the taxes involved can quickly dampen your enthusiasm.…
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…
4 min read
How to File a Life Insurance Claim
In an unpredictable world, a life insurance policy stands as a vital safeguard to protect our…
5 min read
What is a Privileged Will? How to make and execute Privileged Will
Legacy matters to everyone. We all want to pass on the wealth and values we have…
3 min read
Safe Deposit Locker in Thane: Get a Locker Without an FD or Investment
When you approach a bank to obtain a locker, many banks require you to open a…
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…
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.
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.
