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2 min read
Who Should Invest in NPS Balanced Life Cycle Fund?
The National Pension System (NPS) offers different investment strategies to help individuals plan for their retirement.…
What is Mutual Fund Scoring and Ranking?
Investing in mutual funds can be a complex endeavour given the multitude of options available. To…
How the Hindsight Bias Clouds Your Financial Decisions
The choices we make on an everyday basis are influenced by several things — they reflect our…
3 min read
Why We Created a Commission Analyser for Insurance Policies
Among the issues that plague India’s personal finance advisory space, the mis-selling of financial products that…
3 min read
Protecting Yourself from Personal Loan Scams: A Detailed Insight into Recognizing and Avoiding Fraud
This blog explores the surge in loan fraud in India, leading to massive losses, and offers…
3 min read
Mitigating Liability Risks: Strategies for Individuals and Families
This post details strategies and examples on managing liability risks and protecting assets, emphasizing the role…
3 min read
PPF pre-mature withdrawal rules eased. Depositors to pay lesser penalty on pre-mature withdrawal
The Public Provident Fund (PPF) is a mainstay of long-term investment in India. There are several…
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
Hedge funds vs. Mutual funds : Know the differences
Hedge funds and mutual funds might look similar at first—they both pool money from investors and…
3 min read
Here’s How You Can Create Your Wedding Budget Without Compromising Your Financial Goals
A wedding is one of life’s most cherished moments, but it also comes with significant financial…
3 min read
Beyond Traditional Pensions: Exploring Modern Retirement Planning Alternatives
This blog explores modern alternatives to traditional pensions for retirement planning in India, emphasizing diversification and…
8 min read
How Much Do You Really Need to Save for Retirement?
Planning for retirement can be overwhelming, but our comprehensive guide breaks down exactly...
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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.
