Financial planning

Financial planning may mean different things to different people. For one person, it may mean planning investments to provide security during retirement. For another, it may mean planning savings and investments to provide money for a dependent's college education. Financial planning may even mean making career-related decisions or choosing the right insurance products. In reality Financial Planning is the process of meeting financial goals through the proper management of finances.

It is generally seen that people have a misconception that financial planning is about saving more and spending less but that is not the case, it is more about saving the right amount so that future goals can be met.

The objective of financial planning is

To ensure that the right amount of money is available in right hands at right point of time in the future to achieve the desired goals and objectives. It

Provides direction and meaning to your financial decisions.

It allows you to understand how each financial decision you make affects other areas of your finances.

Financial planning and investments can be undertaken by anyone with a clear assessment of one's inflow of funds and the goals that need to be achieved from time to time.