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Tour to Financial Planning
 
Financial planning is the process, which helps you to develop strategies to enhance your future financial security. Financial planning is a dynamic process, which starts with the identification of your specific goals. Once this critical phase is complete, pertinent data is gathered and your goals are analyzed in terms of your ability to achieve them. Specific strategies and alternatives which help you achieve your goals are then developed and documented. A specific action plan is then implemented to assure that your overall plan comes to life. Once your plan is up and running , it should be reviewed periodically to assure that you are moving to your goals. These periodic reviews are important because they provide you with the flexibility to address change in your personal and financial circumstances that occur over a period of time.
 
 
Under financial planning following categories are important:
 
  • Retirement Plan
  • Child Education Plan
  • Marriage Funding Plan
  • Housing Plan
  • Needs Based Plan
 
Future is uncertain. One must be conscious for his future requirement whether you are getting started in your career, accumulating wealth or positioning yourself for retirement, now is the time to take control of your money. Careful Planning can mean the difference between a comfortable retirement and an uncertain future between sending your children to college or not, being able to afford tution or between owing that home you have dreamed of or living with your relatives. With the opening up of the financial sector, the number of issuers and investment instrument is increasing. A lot of qualified financial advisors are taking up this business and are working through reputed distribution houses which provide them with requisite training, periodical update on product etc. The investors would therefore do well for themselves if they approached a good financial advisor to plan and select their investments.
 
Each family's circumstances are different, time clearly is one of the most powerful tools in investing. People need to make financial plans, save money, learn how to register their accounts, to use the Tax Laws to their advantage and develop sound investing strategies to meet their goals.
 
Financial planning is all about preplanning.
Most young professionals today do not plan their finances - some because of a lack of awareness about its benefits, others because of their belief that they do not require it at the initial stage of their careers and some others because it may be expensive for them now.

The sooner you start investing, the more time your money will have to grow - pure and simple "compounding" or the "snowball effect" on your money.
 
 
For more details, please contact us.