FINANCIAL PLANING

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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AUM @ Rs 20 lakh cr! Top 20 stocks under largecap Rank 1 funds where big boys are betting The amount of money which MFs are receiving is largely backed by retail investors as well as high net worth individuals (HNIs).
Fri, 08 Sep 2017 14:42:28 +0530


Should you mimic mutual fund managers’ stock picks? The better way, some think, is to be with the big boys – buy what big fund managers are buying. But is it a good idea?
Fri, 08 Sep 2017 11:06:30 +0530


Arbitrage fund or short term bond funds: Which one works for you? The tax treatment and the expected returns should you help you to decide on the right bet.
Mon, 04 Sep 2017 12:24:44 +0530


MFs tapping retail savings on slashed bank savings deposits rates: ICRA Last month, State Bank of India reduced it#39;s interest rates by 50 basis points to 3.5 per cent for savings deposits of less than Rs one crore. Subsequently, several other public and private sector banks cut their savings deposits rates by 50 basis points.
Wed, 30 Aug 2017 18:10:17 +0530


Fund managers conviction bets? Top 20 stocks where MFs has more than 2% exposure MFs were net buyers in two-thirds of the Nifty stocks last month. The highest net buying in July on a MoM basis was witnessed in HDFC, Hero MotoCorp, and Ambuja Cements.
Thu, 17 Aug 2017 12:46:26 +0530


Ambareesh Baliga Independent market expert Ambareesh Baliga says this is a traders market and so it is better to take your profits on a daily basis.
Tue, 19 Sep 2017 16:46:28 +0530


Upmove likely till Nifty holds 9,950, next Nifty target at 10,500; midcaps may outperform The next Nifty target would be 10,500 and the Midcap index is likely to outperform.
Mon, 18 Sep 2017 17:25:16 +0530


Mitessh Thakkar The Sensex was up 151.15 points at 32423.76, while the Nifty was up 67.70 points at 10153.10.
Mon, 18 Sep 2017 17:00:47 +0530


Gautam Duggad Gautam Duggad of Motilal Oswal believes while valuations are not euphoric, they are rich versus long period averages.
Mon, 18 Sep 2017 15:13:50 +0530


Vineet Bhatnagar The hospitality industry changed dramatically between 2000 and 2017, it has gone through a strategic shift ofan asset-heavy model to asset-light model, said Vineet Bhatnagar, MD, PhillipCapital.
Mon, 18 Sep 2017 13:49:25 +0530


Udayan Mukherjee In an interview to CNBC-TV18, Udayan Mukherjee, Consulting Editor of CNBC-TV18 shared his views and readings on the market, specific stocks and sectors.
Mon, 18 Sep 2017 11:16:50 +0530


Beware of this suckers rally; Nifty likely to correct up to 5% from presumed top As risk-reward ratios are not favourable, traders are advised to exit their long positions as Nifty rallies into the critical resistance points.
Mon, 18 Sep 2017 10:04:11 +0530


Here are top 3 technical stock picks by Reliance Securities MindTree reversed after forming a Double Bottom pattern around Rs 440 and rose to 2-week high.
Mon, 18 Sep 2017 08:59:42 +0530


Basant Maheshwari There are not too many sectors showing earnings growth – IT, pharma and PSU banks are not supporting the market, said Basant Maheshwari of Basant Maheshwari Wealth Advisors.
Fri, 15 Sep 2017 18:27:43 +0530


Dipan Mehta Dipan Mehta Member BSE NSE is of the view that the story is in midcap stocks and there are fantastic price and volume movement actions across range of companies.
Fri, 15 Sep 2017 17:26:08 +0530


Porinju Veliyath Porinju Veliyath of Equity Intelligence India also said that there could be some small infrastructure companies that have huge potential in the coming years.
Fri, 15 Sep 2017 11:40:11 +0530


Mitessh Thakkar It is a market which is positively biased, so one can trade with long bias on a stock specific basis and once the index breaks into fresh highs then trade on the index, says Mitessh Thakkar.
Thu, 14 Sep 2017 16:19:50 +0530


Sridhar Sivaram Sridhar Sivaram of Enam Holdings said one could also look for companies with reasonable debt and business model as reduction in interest rates could benefit them as well.
Thu, 14 Sep 2017 11:03:09 +0530


Raja Lahiri of Grant Thornton discusses the biggest MA trends in August, 2017 Overall deal activity in August, 2017 was better when compared to July, largely driven by big ticket private equity investments. To discuss the fine print and the key sectors in focus, we were joined by Raja Lahiri, Partner at Grant Thornton.
Wed, 13 Sep 2017 17:34:42 +0530


Sudip Bandopadhyay NULL
Wed, 13 Sep 2017 16:57:20 +0530


SBI Life Insurance raises Rs 2,226 crore from 69 anchor investors The company through its merchant bankers informed exchanges that under anchor investors portion in the public issue of SBI Life Insurance Company, 3.18 crore equity shares have been subscribed on Tuesday by 69 anchor investors.
Wed, 20 Sep 2017 08:45:27 +0530


SBI Life’s Rs 8,400-cr IPO kicks off today. Should you subscribe to the issue? Brokerage houses largely recommend subscribing to the issue, citing healthy valuations and better business prospects.
Wed, 20 Sep 2017 07:40:55 +0530


SBI Life Insurance IPO to open on September 20; 10 things to know before investing The IPO by size is expected to be the largest in life insurance space in India and it would be the second life insurance company to list on bourses.
Tue, 19 Sep 2017 20:41:36 +0530


Subscribe to SBI Life Insurance Company : HEM Securities HEM Securities has come out with its report on SBI Life Insurance Company , The research firm has recommended to “ Subscribe ” the IPO in its research report as on September 19, 2017
Tue, 19 Sep 2017 15:15:28 +0530


Share India Securities SME IPO to open on 21st sept 2017 ShareIndia Securities SME IPO to open on 21st sept 2017
Tue, 19 Sep 2017 12:48:59 +0530


ICICI Lombard IPO oversubscribed 3 times on QIB support Post-issue, the shareholding of Fairfax will reduce to 9.91 percent from 21.91 percent and ICICI Bank#39;s stake will come down to 55.92 percent, from 62.92 percent.
Tue, 19 Sep 2017 12:39:30 +0530


Subscribe to ICICI Lombard General Insurance Company  : HEM Securities HEM securities has come out with its report on ICICI Lombard General Insurance Company , The research firm has recommended to “ Subscribe ” the IPO in its research report as on September 18, 2017
Mon, 18 Sep 2017 17:43:06 +0530


Bharat Road Network ends with gains of 1.5% on listing day There were some swings seen in the stock during the morning session, as it fell over a percent in the first few minutes, but has now gained around 4 percent later.
Mon, 18 Sep 2017 17:32:02 +0530


Solid debut: Dixon Tech ends with hefty premium, up 64% at Rs 2,891.55 on NSE Dixon closed with a premium of 63.73 percent at Rs 2,891.55 on the National Stock Exchange, against issue price of Rs 1,766.
Mon, 18 Sep 2017 16:40:17 +0530


Tepid Listing: Bharat Road Network opens flat at Rs 205 Soon, the stock saw sharp swings, as it fell over a percent in the first few minutes, but has now gained around 4 percent.
Mon, 18 Sep 2017 10:15:53 +0530


Stellar listing: Dixon Tech debuts at Rs 2,725; up 64% over issue price Consumer electronics manufacturer Dixon Technologies started off trade at Rs 2,725, up 54 percent over issue price of Rs 1,766.
Mon, 18 Sep 2017 10:00:54 +0530


Dixon Technologies, Bharat Road Network to debut on bourses on September 18 Dixon Technologies has fixed issue price at Rs 1,766 per share and Bharat Road Network has set it at Rs 205 per share, the higher end of price band.
Sun, 17 Sep 2017 13:12:29 +0530


National Insurance expects up to Rs 5,000 cr from IPO NIC has also submitted a roadmap to the government and the regulator
Sun, 17 Sep 2017 11:25:20 +0530


ICICI Lombard IPO subscribed 27% on Day 1 The qualified institutional buyer (QIB) category was subscribed 62 per cent, non-institutional investors 4 per cent and retail individual investors 18 per cent.
Fri, 15 Sep 2017 18:45:19 +0530


Capacit#39;e Infraprojects IPO oversubscribed 183 times on strong demand The initial public offering of construction firm Capacit#39;e Infraprojects has seen very strong response from investors on final day.
Fri, 15 Sep 2017 16:03:56 +0530

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