Personal Finance
5 min read
5 Key Steps to Plan a Financially Secure Life
In a world of constant change and uncertainty, achieving financial security is a common aspiration for…
5 min read
Who is a SEBI Registered Investment Advisor?
Imagine you’re feeling unwell—you’d go to a doctor, right? Or if your car breaks down, you’d…
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Financial Well-Being vs. Financial Wellness: What’s the Difference?
Financial Well-Being focuses on long-term financial stability, while Financial Wellness emphasizes immediate financial health and day-to-day…
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Introduction to Behavioural Finance: Decoding the Psychology of Financial Decision-Making
Behavioral finance explores how psychology and biases impact financial decision-making.
3 min read
How Not to Plan Your Finances: Common Pitfalls to Avoid
Financial planning is a cornerstone of achieving long-term financial security and stability. However, not all financial…
8 min read
What are the Pros and Cons of Loan Refinancing?
Unlock the intricacies of loan refinancing in India to make well-informed financial choices with our comprehensive…
3 min read
Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool
Investing in mutual funds is a popular strategy for diversifying one’s portfolio and achieving financial goals.…
3 min read
Documents Required for Surrendering a Life Insurance Policy
Surrendering a life insurance policy with the Life Insurance Corporation (LIC) of India involves a structured…
4 min read
The Weight of Money On Your Mind: How Finances Affect Your Well-being
Money is known to be the great enabler that puts the life you desire within reach.…
2 min read
How Will the Budget 2024 Affect Your Gold Investments?
The Union Budget 2024 brings significant changes to the taxation of gold investments, which could impact…
5 min read
Planning for Financial future: Where to start?
Welcome to the exciting world of financial planning! Are you ready to take charge of your…
3 min read
Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
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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.
