What is Financial Planning

Simply put Financial Planning is planning your Finances & Life goals. Benjamin Franklin famously once said, “Failing to plan is planning to fail”. We can deny it as much as we want, but the truth is we’d love to know our future in advance, we want to know where we will be 10 or 20 years down the Line, it’s the real reason why newspapers will never delete the horoscope page because we love knowing our Future, whatever & however it may be. This is exactly what Financial Planning attempts to do.

A Financial Plan will give you in writing, in black & white, on paper whether your current rate & way of savings, investing & Planning will help you achieve your goals or not. Whether, you will be able to send your child into an IIM or Abroad or arrange a grand wedding for your daughter or retire at 50.

Yeah, a Financial Plan like a horoscope will show you your future on paper. It will tell you were in your savings and investing, changes ought to be made. But unlike a Horoscope, it is not all hoopla or luck, no the predictions of a Financial Plan will hold true.

Unlike an Astrologer whose predictions are based on tricking-the-innocent-kind-of-science, a Financial Plan is based on proved assumptions and exact figures. A Financial Plan will tell you exactly how much you need, what will it  cost in the future & how to achieve it.

But that is not all a Financial Plan Does. The main purpose of Financial Planning is to get your Finances on Track. Yes, we all invest and Save and have goals and dreams. But have we really thought about if our dreams will ever come to life? If our aspirations will always be a distant-long-forgotten-dream? A Financial Plan, as already quoted, will tell you exactly if you can achieve your Goals.  

FEATURES OF a FINANCIAL PLAN- What it does for you.

Financial Planning is basically your best Friend who knows your bad finance-habits and willfully ensures that you quit them before they become deadly. A Friend who will tell you which Investments & Insurances to choose keeping your “Best Interest” in mind and when you go off track, it will reprimand you like a best friend.

But Beware, Just like a Best Friend, a Financial Planning is not a one day or 1 week process, or an activity you do just because your colleague is doing it, No a Financial Planning Process is a Long-term-life-long, ongoing process which requires total dedication on your part. It’s your Life-your Finances- your dreams so the push must come from within.

But one thing is certain, after doing your Financial Planning your Life will never be the same again. It will become BETTER, ENRICHER & with a PURPOSE. You will have a game plan for life, there will be no surprises, and no heartache when stock market falls 500 points or setbacks, you will be ensuring happiness for your family, with or without you.

And the main thing that a Financial Plan will do is provide you “peace of mind – & that is the business we are in”.