1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Lifestyle Inflation
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
3 min read
Protecting Consumer Rights in P2P Lending: A Guide to Filing Complaints in India
Peer-to-peer (P2P) lending has emerged as a popular alternative to traditional banking in India, offering borrowers…
5 min read
Key Steps to Take 5 Years Before Retirement
Planning for retirement is a long-term process, and the five years leading up to it are…
If I’m Doing Well, Do I Still Need to Grow My Wealth?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
How to diversify your portfolio in today’s highly volatile market?
Diversification is the practice of spreading your investments around so that your exposure to any one…
3 min read
Understanding Credit Scores and Their Importance in Personal Loans
In the world of personal finance, few things carry as much weight as your credit score.…
9 min read
How to Choose the Right Retirement Investments for Your Goals?
Are you wondering how to choose the right retirement investments for your goals?
4 min read
Understanding Different Terms Related to Loans: A Comprehensive Guide
Navigating the world of loans can be complex, especially with the numerous terms and concepts involved.…
4 min read
How Much Loan is Too Much Loan?
Desire is a very fundamental to human nature and satisfying these desires comes at a cost.…
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…
3 min read
Manual vs. Automatic Lending in India’s P2P Lending Market
Peer-to-Peer (P2P) lending is gaining significant traction in India, offering a unique opportunity for both borrowers…
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.…
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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.
