Financial Planning

What is Financial Planning?

It is the process of estimating capital requirements and determining its competition. It is the process of framing the financial policies in relation to buy, investments, and administration of funds.

• Financial Planning is the process of achieving your life goals by using different investment options with your current resources through proper and disciplined money management.
• Financial planning is not only about money, but it is about life, about fulfilling your wishes, dreams, aspirations, and your enjoyment in achieving them.

Simple word the meaning of Financial Planning is

• Budgeting/Identifying-monthly income and expenses
• Planning- for family financial goals
• Allocating - available existing assets and repaying liabilities
• Documenting a written financial plan - To fulfill the goals and responsibilities of your family.

There are 3 major components in the financial planning process:

1. Current Resources (CR)
2. Investment Options (IO)
3. Financial Goals (FG)

Financial Planning Includes:-

Emergency Planning- Continue your existing lifestyle without disturbing your goal planning.

• Risk & Insurance Planning - Ensures having an adequate life cover at any point in time. Also controlling and minimizing any loss arising out of any medical conditions
• Goal & Investment Planning- Focus on goal-based investment. It ensures timely investment and exit as per your goals and not market trends. Plan to invest in line with the goal tenure and available liquidity
• Tax Planning - Reduce tax liability by proper investment and on time. It will be Improving post-tax-efficient returns and paying your taxes on time.
• Retirement Planning - it is helping you get a regular income in the GOLDEN years of your life. Ready to retire at a given desired retirement age and lifestyle, i.e. whether one has enough money or not to retire.
• Estate Planning -Making a plan to distribute your assets among your loved ones in your lifetime.
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  • Emergency Planning- Continue your existing lifestyle without disturbing your goal planning.
  • Risk & Insurance Planning - Ensures having an adequate life cover at any point in time. Also controlling and minimizing any loss arising out of any medical conditions
  • Goal & Investment Planning- Focus on goal-based investment. It ensures timely investment and exit as per your goals and not market trends. Plan to invest in line with the goal tenure and available liquidity
  • Tax Planning - Reduce tax liability by proper investment and on time. It will be Improving post-tax-efficient returns and paying your taxes on time.
  • Retirement Planning - it is helping you get a regular income in the GOLDEN years of your life. Ready to retire at a given desired retirement age and lifestyle, i.e. whether one has enough money or not to retire.
  • Estate Planning -Making a plan to distribute your assets among your loved ones in your lifetime.