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6 min read
Fund Manager vs. Wealth Manager vs. Financial Planner: Who They Are and Who You Really Need
India’s economy is growing fast. The average income is rising, but most people still don’t know…
5 min read
How to File Income Tax Return Online Using Form 16?
Introduction If you are new to filing your own ITR request, chances are that you have…
4 min read
5 Signs It’s Time to Refinance Your Loan
Financial responsibilities come in many forms, and loans are a common part of life for many…
4 min read
How To Master Financial Planning During Major Life Stages
Life’s transitions are pivotal moments that shape our journey, affecting both our financial well-being and emotional…
3 min read
What is 100 minus age asset allocation strategy?
Financial advisors often treat asset allocation as the cornerstone of any solid investment strategy. While it…
4 min read
Achieve Your Financial Dreams: A Step-by-Step Guide to Portfolio Rebalancing
Priorities and ambitions naturally shift as one progresses through life. In the same way, your investment…
4 min read
Home loan interest rate cut: Reduce EMI or home loan tenure, which option will save you more?
Since the recent repo rate cut of 50 basis points by the RBI, several banks have…
2 min read
New Income Tax Slabs, Rates After Budget 2025 But Don’t Calculate Your Taxes Based On Them While Filing ITR In FY24-25
Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on February 1,2025 introducing a revised income…
6 min read
Multi-asset allocation fund vs. gold ETF: Which one to choose for gold exposure in 2025?
Like what you're reading? Get our latest, straight to your inbox. Subscribe to our newsletter…
3 min read
Retirement Funds or Equity Funds: What’s better?
Planning for a secure and comfortable retirement is a crucial financial goal for most people. With…
8 min read
How to invest in gold in 2025
Gold has clearly had a golden run lately but should your portfolio include it?
3 min read
Understanding Per Capita Income: How It’s Calculated and What It Indicates
This article explores the concept of Per Capita Income, its calculation, and its significance in assessing…
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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.
