Financial Planning

What is Financial Planning ?

It is a step by step process to ensure that you plan and invest in a way so that you are constantly in sight of your goals and the effort that is required to achieve them.

With a Financial plan, you should be able to do the following:

* Set and prioritise your life goals

* Take stock of your existing finances and the role they will play in meeting the goals as also whether the current set of investments are the right ones for you.

* Identify the right investment instruments including how much insurance and/or a contingency reserve should you have to take care of your dependents.

* Track your investments and Set milestones of execution and review

Interestingly, a lot of people spend their time with the last step. The first three are very critical for the overall exercise to be successful.