1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Why Term Insurance is a Pure Risk Protection Plan
In the bustling city of Mumbai, amidst the chaos of daily life, Rohan, a young professional,…
5 min read
Income Tax and Rental Income: A Comprehensive Guide for Property Owners
Discover how income tax applies to rental income in our comprehensive guide for property owners, clarifying…
7 min read
How to Start an Investment Portfolio: A Step-by-Step Guide
Learn how to start your investment portfolio with our comprehensive step-by-step guide. Learn how to start…
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.…
3 min read
A Comprehensive Guide to Personal Liability Protection for Safeguarding Your Assets
This post provides insights into personal liability, outlining strategies and real-life examples to secure your assets.
3 min read
Understanding Fixed and Variable Income Investments: Where Does P2P Lending Fit?
Investing involves understanding different types of income investments to balance your portfolio effectively. This blog will…
3 min read
How to Choose a Health Insurance Plan in India
Purchasing health insurance is a critical financial decision that can shield you from economic hardship in…
5 min read
Applicability of Tax-Loss Harvesting Strategy in 2024
Rohit had a diverse investment portfolio in 2023. By December, he realised he had the following…
One on One with a Wedding Emcee
Newman D’silva has hosted over 500 events since 2013 — but that’s not all he’s been…
5 min read
Important Terminologies Related to Income from House Property: Here’s What You Need to Know
Owning your dream house is not about just a place to call home but it also…
What Your Net Worth Tells Us About You
Your net worth — i.e. your assets minus your liabilities — is by no means the sole…
4 min read
Jio Financial Services and BlackRock Join Hands: A Game-Changing Inflection Point in India’s Asset Management Industry
Jio Financial Services collaborates with BlackRock, marking a transformative moment in India's asset management landscape. This…
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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.
