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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
Performance of India’s Nifty 50 Constituents in 2024: Last year in Review
2024 has been quite a rollercoaster for India’s stock market. Investors saw big winners and surprising…
3 min read
What it Means to borrow on a P2P Lending platform
Peer-to-peer (P2P) lending is transforming the way individuals access loans and credit. This innovative model provides…
What is Mutual Fund Scoring and Ranking?
Investing in mutual funds can be a complex endeavour given the multitude of options available. To…
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.…
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.
3 min read
Navigating the Maze of Residential Real Estate Investment in India | “Temperament” by 1 Finance
It is more important than ever to grasp the nuances of residential investment in the quickly…
3 min read
What is Interest Rate Risk? How to Hedge Against It?
When it comes to investing in fixed-income securities like bonds, many people assume they are a…
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.…
2 min read
Income Loss & Emergency Planning: Mastering Resilience in Uncertain Times | Temperament by 1 Finance
In an age where job security is a relic of the past, “Temperament” by 1 Finance…
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
Engaging with finance through crosswords
Learning about finance doesn’t have to be dull. It can be engaging, interactive, and even game-like.…
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.
