What exactly is Financial Planning and who is a Financial Advisor?
Financial planning is a professional service for individuals, their families, and businesses, who need objective assistance in organizing their financial affairs to achieve their financial and lifestyle Goals.
We should work out our goals in life, in the short, medium and long term. Prioritize them, and think about the likely cost of those goals and when you will need the money.
It might involve Investment strategies, how your family will manage without your income if you fall ill or die prematurely, how can you Retire Richer, how will you plan your estate. Although, it involves thinking about all of these things together i.e., your ‘PLAN’.
For this reason, a Financial Advisor is very Important. A financial advisoris a professional who helps his/her clients deal with above mentioned personal finance issues through correct planning. Financial advisors address our financial problems, just like a doctor who attends our health problems.
Top Reasons you should have a concrete Financial Planning.
Inflation is called as the biggest destroyer of purchasing power. It is a fall in the value of money. This is because the demand is growing faster than supply which leads to a hike in price. Looking at the current times and future expected changes, this may continue further.
In order to sustain inflation in the future, today is the day one should be actively planning finances. Financial planning ensures you sustain the inflation while keeping your goals unaffected.
LONG TERM GOALS
Some milestones are very important in life. Be it a family car, your own house, your children’s’ education or their marriage; it is a responsibility to fulfill these needs. Short-term stepping stones will help achieve long-term Financial Goals.
Financial planning is a process of making a proper financial plan to meet your financial goals in a specific period of time. It is better to plan early. Investing your money from now will make it easier to achieve such long-term goals.
Prevention is better than cure and when it’s about money, getting ready is better than regretting. There might be unavoidable and unexpected times ahead which may become obstacles before your goals.
Financial planning involves being ready for such situations without affecting primary objectives. Providing security to your family is an important part of financial planning.
Financial planning is a step towards your dreams. You might have thought of a foreign trip, an independent house or living a dream with your family. May the dreams never go away due to responsibilities! Financial planning supports your dreams while taking care of your responsibilities.
While meeting your family goals it is a general objective to have a comfortable retired life. You should plan investing from now because the magic of compounding is experienced if stayed invested for a long term.
Financial planning helps you create adequate corpus for retirement when expenses continue but income seems to be drying. It is advisable to consider investing for your life’s goals. Plan today, for a better tomorrow.
Important Point to keep in mind is there is no other Alternative to Financial Planning. Yes, you can randomly invest in stocks, mutual funds, FD, Insurance, etc. but that will not be helpful in a Long-term point of view and you will not be able to track your Investment.
Therefore, it is very important to consult an expert Financial Advisor who can systematically strategize your Financial Plan for a Better and Richer Future.
We at Tstock Mantra Investments provide Complete Financial Planning services for an Individual i.e., Investment Planning, Insurance Planning, Retirement Planning, and so on.
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