Financial Planning

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Financial planning is a step-by-step approach to meet one’s life goals. A financial plan acts as a guide as you go through life’s journey. Typical goals include savings for children’s education and/or marriage, planning for your retirement, buying a home or savings for a dream vacation. 

We assist you in identifying your goals and future valuation of your needs to fulfil the goals. We also build a strategy or roadmap to achieve the targets expecting realistic returns on our suggested investments. This strategy will contain individual’s personal and family situation, risk tolerance, and future expectations.  We also review the plans periodically to see if any changes are required in the plan in order to achieve the goals faster.

 

Benefits of financial planning

There are numerous practical benefits to financial planning. It helps you to:

  • Increase your savings

Saving money without having a financial plan; may not be the most efficient way to go about it. When you create a financial plan, you get a good deal of insight into your income and expenses. You can track and cut down your costs consciously. This automatically increases your savings in the long run.

  • Enjoy a better standard of living

Most people assume that they would have to sacrifice their standard of living if their monthly bills and EMI repayments are to be addressed. On the contrary, with a good financial plan, you would not need to compromise your lifestyle. It is possible to achieve your goals while living in relative comfort.

  • Be prepared for emergencies

Creating an emergency fund is a critical aspect of financial planning. Here, you need to ensure that you have a fund that is equal to at least 6 to 8 months of your monthly salary. This way, you don’t have to worry about procuring funds in case of a family emergency or a job loss or any pandemic situation. The emergency fund can help you pay for varied expenses on time.

  • Attain peace of mind

With adequate funds at hand, you can cover your monthly expenses, invest for your future goals and splurge a little for yourself and your family, without worry. Financial planning helps you manage your money efficiently and enjoy peace of mind. Don’t worry if you have not yet reached this stage. If you are on the path of financial planning, the destination of financial peace is not very far away.