1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
5 Essential Considerations For Building a Robust Retirement Fund
As the future looms closer, the prospect of retirement often feels like an elusive dream—one that…
4 min read
Tax Planning Tips for Different Age Groups
Tax planning is an integral aspect of an individual’s personal finance, helping individuals reduce their tax…
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…
4 min read
Tax Planning: Meaning, Importance, and Benefits
Tax planning forms an integral component of an individual’s financial management. It involves organising one’s financial…
3 min read
Securing Your Future: The Role of a Financial Advisor in Retirement Planning
Uncover the crucial role financial advisors play in securing your future through effective retirement planning.
4 min read
Benefit of opting for the New Tax Regime
Taxpayers are often confused when it comes to choosing between the new tax regime and the…
4 min read
Macroeconomics and Its Impact on Personal Finance | “Temperament” by 1 Finance
In the ever-evolving economic landscape, understanding the intersection of macroeconomics and personal finance is crucial. The…
3 min read
Why Investing in Thematic Mutual Funds is Not the Right Strategy
Investing in mutual funds has long been a favored strategy for those seeking diversified exposure to…
5 min read
Direct Vs Regular Mutual Funds: What Shall You Opt?
Deciding between Direct Vs Regular Mutual Funds is one of the first dilemmas that new investors…
5 min read
SEBI’s New Circular: How It Will Help Families Discover Deceased’s Assets
Death doesn’t come knocking. Apart from dealing with the emotional pain of losing a family member,…
5 min read
Types of Wills in India: Know the differences
In India, wills are essential legal documents that allow individuals to specify how their assets should…
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…
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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.
