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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?…
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…
2 min read
Should You Diversify Your Investments Beyond Nifty 50? Know What Should Be Your First Priority
The Nifty 50 Index has long been a popular investment choice for Indian investors, delivering an…
4 min read
What I Learnt from My Brief Stint with Stocks
My early memories of my father are inextricably linked to sound. As a toddler, it was…
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…
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…
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
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
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
Types of Mutual Funds: What Are Different Types of Mutual Funds, How They Differ, and How to Invest in Them
The Indian mutual fund industry has witnessed exponential growth over the past decade. As of December…
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...
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.…
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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.
