1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Most Common Challenges People Face During Retirement Planning
“Retirement is a time to enjoy the things you never could before.” Like what you're reading?…
4 min read
Is Buying a Home a Good Investment?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
5 min read
SPIVA Report – Unveiling the Active vs. Passive Debate
The ongoing debate between active and passive funds has become a staple in the financial world.…
4 min read
Home Loan EMI vs. Renting: Which is the Better Choice?
If you’re in your 30s or early 40s, you might have been pondering whether it’s better…
3 min read
Here’s the Impact Buying a Home Has on Your Financial Health
Buying a home is the biggest and probably the costliest financial decision we make in our…
5 min read
Types of Retirement Plans in India
Retirement planning is one of the most significant financial decisions you’ll make in your life. It’s…
7 min read
Understanding Good Vs Bad Liabilities
Gain a clear understanding of good vs bad liabilities with our comprehensive guide.
3 min read
Common Mistakes to Avoid When Buying Health Insurance in India
Essential health insurance safeguards against high medical expenses, ensuring affordable access to quality healthcare.
6 min read
Retirement Income Planning: How to Make Your Savings Last?
Are you worried about running out of money in retirement? Our article on retirement income...
5 min read
What is the Unified Pension Scheme (UPS)?
Recently, the Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024. UPS or…
5 min read
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
Back to Basics with a Money Jar
For a freelance travel writer, there’s never enough travel. Assignments and hosted trips are all well…
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.
