The world over, financials planners use a six – steps process that helps them see the ‘big picture’ and determine where the person stands financially. Using these six steps, one can work out where he is now, what he may need in the future and what he must do to reach his goals. The process involves gathering relevant financial information, setting life goals, examining the current financial status and coming up with a strategy or plan for meeting the goals given the current situation and future plan. Establishing and defining the client-planner relationship. The financial planner and the clientRead More
The need for financial planning arises from the need to meet the financial goals that enable the achievement of one's life goals. These are determined by one's understanding of the present situation, status, income level, wealth, responsibilities, aspirations, risk profile, ability to save, past and present lifestyle, etc.
Financial planning helps Read More
Many people think that financial planning is a once-and-done event that starts with the numbers and ends with investments and pie charts. But that's not what true financial planning is about.
Financial planning is a comprehensive, ongoing approach that starts with helping you define your dreams, developing a plan to help you get there, then tracking your progress along the way, recommending changes where needed. It is a systematicRead More