Importance Of Financial Planning

shashi Oct 12, 2021 | 1150 Views
  • Financial Services

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Individuals in India have historically saved in gold jewellery & considered the investment as security to overcome financial stress. Times have changed, our aspiration from life has also changed, hence, individuals should start looking at investments as a mean to our life goals & aspirations. Hence, Financial Planning should be a well thought out process of building a balanced portfolio of investments. Individuals should understand the value of power of compounding to build a sizable corpus by investing little amounts as per convenience .

 

Depending on father or husband or brother or anyone else may be easy way out, but it’s very important & satisfying to do it yourself. One cannot be financially independent by only earning. Your investments should earn you more than what you earn & give you a cash flow in the times of need. Hence, savings & investing right is very important to achieve your life Goals & Aspirations.

 

Financial Planning is all about managing & planning expenditure , debt & savings and taking stock of one’s assets & Liabilities. Financial Planning for all individuals is very critical for improving the quality of life. For this, one needs to build a healthy & balanced portfolio by investing across various asset classes. In consultation with your personal financial intermediary to achieve both financial & social security.

 

Adequate Health & Life Insurance coverage are very important to manage risks in life. Debt or Equity is not a bad word if it is managed well & taken for right reasons. Investment is all about right asset allocation in various asset classes. You can get in touch with us for any suggestions & educate self to meet your Short Term & Long Term Goals.

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