Financial Planning

A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, childrens education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.

Having a financial plan is like having a travel plan - it identifies where youre going, how and when youll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life.

Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much of trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience of the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.

Do you need financial plan?
Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepared for it. An effective financial plan will make sure that you are financially prepared to deal with the unexpected events and stormy times. If you dont have one, youre more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met. A good financial plan can alert you to changes that must be made to make sure a smooth transition through lifes financial phases, such as decreasing spending or changing asset allocation.

By developing a financial plan you and your family:

  • Will have a better understanding of your current financial position.
  • Determine attainable retirement, education, insurance, and other financial goals.
  • Review goals, funding strategies, and alternatives to balance all goals.
  • Have the necessary financial resources set aside to fund your goals as they occur.
  • Reduce the effects of unexpected events such as disability, premature death etc.

You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavorable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyze your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.

Risks of not having a financial plan:
You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.

You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.

You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.

You might become a victim of mis-selling and build a corpus of investment products that neither suits your financial needs nor your risk profile.

You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for.

Tips for Effective Financial Plan

  • Be realistic with your investment returns; dont plan to outperform the markets.
  • Account for market risk and dont assume the same return to repeat every year.
  • Dont forget to plan for inflation, taxes and your financial planners fees.
  • Review your financial plan regularly to see if you are on track or need any changes in the plan.

The need for financial plan is all the more very important in the turbulent economic times of today. If you dont have one till now, dont delay any more and Get it Now. Dont be self-satisfied that you will be okay whatever happens. Face the reality. Unless you develop a financial plan early, it will be too late.

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Mutual Fund industry adds 5.6 lakh folios in July, debt funds gain traction  According to data from Association of Mutual Funds in India, the number of folios with 45 fund houses rose to 9,21,05,737 at the end of last month, from 9,15,42,092 at June-end, registering a gain of 5.63 lakh folios.
Fri, 14 Aug 2020 15:07:08 +0530


Gaurav Ratnaparkhi The Nifty is in a triangular pattern on the hourly chart, which is nearing its maturity. Once the swing high of 12,025 is crossed, the pattern will be considered to have broken out on the upside.
Sat, 24 Oct 2020 12:08:52 +0530


Amit Jain Market is closely watching these numbers to expand multiple of earnings for 2nd half of the financial year.
Fri, 23 Oct 2020 12:30:40 +0530


DAILY VOICE | Market can correct 10% at any moment of time: Satish Kumar of Equirus Securities The market can correct 10% at any moment of time, more so when the market is pricing in a recovery. So, if it falls go and buy the stocks you found attractive on fundamentals
Fri, 23 Oct 2020 08:50:05 +0530


After The Bell: Nifty breaks 4-day winning streak; here’s what should investors do on Friday? Shrikant Chouhan of Kotak Securities said the strategy should be to buy Nifty if it crosses 11,950 levels
Thu, 22 Oct 2020 20:48:35 +0530


Deepak Jasani Going by the current momentum, Nifty could keep inching upwards. New high for the Nifty is barely 5 percent away.
Thu, 22 Oct 2020 14:44:35 +0530


These 21 stocks turned multibaggers in just 6 months; time to book profit or stay put? Booking profit could be a trading call, but if investors want to remain invested then some of these stocks could give higher returns in the next 2-3 years
Thu, 22 Oct 2020 09:58:50 +0530


Ashish Chaturmohta ACC which hit a fresh 52-week high closed with gains of over 2 percent, Newgen Software rallied more than 9 percent to a new 52-week high of Rs 269 and Ester Industries was locked in upper circuit of 20 percent on Wednesday.
Thu, 22 Oct 2020 08:14:10 +0530


Harish Krishnan Overall, we think earnings of listed companies may show an improvement over the June quarter.
Wed, 21 Oct 2020 13:50:55 +0530


Interview | If you are positive on India, you have to be positive on the markets, says Sunil Singhania of Abakkus Month-on-month economic data has been positive and most companies have seen an uptick in sales. The economy is keeping pace with the stock market and Nifty earnings will see a growth this quarter, says Sunil Singhania, founder, Abakkus Asset Manager
Wed, 21 Oct 2020 10:36:49 +0530


Mazhar Mohammad Stocks like Britannia Industries which fell nearly 6 percent, Oberoi Realty was up nearly 20 percent, and HCL Technologies closed with gains of more than 4 percent on Tuesday were some of the stocks in focus.
Wed, 21 Oct 2020 08:55:11 +0530


After The Bell: Profit-booking on D-St; here’s what investors should do on Wednesday The Nifty is moving in a narrow range of 11,800-11,950 levels. Above 12,050, the Nifty can move to 12,200 in a short period of time, say analysts.
Tue, 20 Oct 2020 18:12:07 +0530


Pritam Deuskar One-sided growth makes people overestimate their ability to predict market or stocks and misconstrue luck with analysis or understanding, says Wealthyvia.com founder Pritam Deuskar.
Tue, 20 Oct 2020 13:25:08 +0530


Consistent performers: These 11 stocks rallied 20-140% in December quarter of last 3 years Stocks that gave double-digit returns consistently in the last quarter of the previous three calendar years include names like DB Realty, GMM Pfaudler, Dolat Investments, Alkyl Amines, Manappuram Finance etc.
Tue, 20 Oct 2020 10:00:44 +0530


Trade Spotlight: Amber Enterprises, Federal Bank and Spencer Retail in focus Stocks like Amber Enterprises which rose nearly 13 percent, Federal Bank gained more than 7 percent, and Spencer Retail closed with gains of over 3 percent were some of the stocks in focus on Monday.
Tue, 20 Oct 2020 08:43:45 +0530


Prasanna Pathak We are very close to the all-time highs and new high is a possibility driven by liquidity. However, the risk-reward is not favourable at this juncture and one should be cautious.
Tue, 20 Oct 2020 08:37:42 +0530


Subscribe to Equitas Small Finance Bank: Anand Rathi Anand Rathi has come out with its report on Equitas Small Finance Bank. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on October 20, 2020
Thu, 22 Oct 2020 08:13:47 +0530


Subscribe to Equitas Small Finance Bank: Hem Securities Hem Securities has come out with its report on Equitas Small Finance Bank. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on October 19, 2020
Thu, 22 Oct 2020 08:10:57 +0530


Subscribe to Equitas Small Finance Bank: KR Choksey KR Choksey has come out with its report on Equitas Small Finance Bank. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on October 19, 2020
Tue, 20 Oct 2020 12:30:07 +0530


Subscribe to Equitas Small Finance Bank: Arihant Capital Arihant Capital has come out with its report on Equitas Small Finance Bank. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on October 19, 2020
Tue, 20 Oct 2020 12:21:33 +0530


Subscribe to Equitas Small Finance Bank: ICICI Direct ICICI Direct has come out with its report on Equitas Small Finance Bank. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on October 19, 2020
Tue, 20 Oct 2020 12:16:25 +0530


Likhitha Infrastructure shares locked in upper circuit on listing day: Should investors hold or book profit? The current market capitalisation of the company stood at Rs 269.44 crore, with promoters#39; shareholding in the company at 74 percent post issue.
Fri, 16 Oct 2020 12:23:28 +0530


Equitas Small Finance Bank may launch IPO on October 20, to raise Rs 532 crore At the time of filing DRHP in December 2019, promoter Equitas Holdings held 95.49 percent stake in Equitas Small Finance Bank.
Mon, 12 Oct 2020 13:01:55 +0530


Stellar Listing: Mazagon Dock Shipbuilders debuts at Rs 216, a 49% premium The bumper listing was in line with analysts#39; expectations given company#39;s strong orderbook position, attractive valuations and hefty IPO subscription.
Mon, 12 Oct 2020 10:00:35 +0530


Tepid Listing: UTI AMC opens first day trade at Rs 490, a 12% discount Given the tepid response to IPO and consistent redemption pressure from investors in the mutual fund industry for last three months, the listing was on expected lines.
Mon, 12 Oct 2020 10:00:30 +0530


Angel Broking off to a poor start, closes at 10% discount on debut day Angel Broking has the second weakest listing of 2020. It traded with volumes of 8,94,431 equity shares on the BSE and 85,46,238 shares on the NSE.
Mon, 05 Oct 2020 17:05:58 +0530


Angel Broking lists at discount, what should investors do? If someone wants to buy Angel Broking, they should wait for a decent correction before adding this counter, Gaurav Garg of CapitalVia Global Research said.
Mon, 05 Oct 2020 13:57:55 +0530


Weak Listing: Angel Broking debuts at Rs 275, a 10% discount The listing was in line with analysts#39; expectations citing valuations concerns, muted revenue growth despite robust client additions and rising competition in the broking industry.
Mon, 05 Oct 2020 09:59:37 +0530


CAMS IPO | Stock settles at Rs 1,401.60, a 14% premium over its issue price Hemang Jani of Motilal Oswal Financial Services advised investors to hold the company for the long term given its business model and healthy financials
Thu, 01 Oct 2020 18:26:20 +0530


Chemcon Speciality Chemicals ends 72% higher from its issue price of Rs 340 per share The listing premium was definitely higher than Happiest Minds Technologies (111 percent premium)
Thu, 01 Oct 2020 17:58:19 +0530


Subscribe to UTI Asset Management Company: Ajcon Global Ajcon Global has come out with its report on UTI Asset Management Company. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on September 29, 2020
Wed, 30 Sep 2020 19:28:54 +0530

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