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Financial Planning

Financial Planning is all about preparing a plan for an objective in mind like Wealth Creation, Child’s Future & Retirement Planning. It is a comprehensive evaluation of Individual’s current and future financial state by predicting his growth in income and planning his savings for his future commitment.

Consider yourself you are earning X amount as your salary or income from business and you have a family consisting of yourself, your spouse and your kid’s, you will have your dreams and commitments to be fulfilled in near and distant future. In pursuing your dreams and commitments without a proper plan will put your financial life under risk and trouble in long run and you need a proper financial planning to achieve your dreams and commitments.

For example if your age is 36yrs and your family consists of your spouse and 2kids, your both kids are studying in school. If you have a dream of buying a bigger car and international vacation, you are buying a car because you feel your family need it for travelling long distance and international vacation you need it for fulfilling your long time dreams. In the process of achieving your dreams you are forgetting about your commitments.

You could buy a car and go for a holiday without a plan by taking a auto loan and a personal loan but that will impact your income and savings for next 5yrs, at the age of 36yrs losing 5yr will impact all your commitments in the long run. In the process of achieving your dreams you are forgetting about your commitments. Any thing you do without a proper plan will impact your financial life in a way you couldn’t think of hence have a plan by saving for achieving your dreams and commitments.

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