Financial Planning is a plan to save and spend your future income. It should be carefully budgeted. When you do your investment planning, you must budget for both big and small spends. Financial planning needs to account for expenses like rent, utilities, and food per month.
When Financial planning, you must think about short term and long term savings. After expenses, you must set aside money for savings every month. Most people who are financial planning believe in setting aside 20% of monthly income towards savings. For long term savings, your best investment/risk coverage options should be explored.
Financial planning can be an investment/Insurance planning. You put a portion of savings into assets and future needs. Investment planning carefully ensures these policies cater your future needs. There are various insurance options in the form of ULIP policies, Traditional policies etc.
Financial planning will allow you to make major capital requirements in your life. You cannot plan your children’s education or daughters marriage without proper investment planning, and the right investment options will allow you to enjoy your retirement.
Financial planning isn’t something that happens by itself. It requires focus and discipline. Many people think that the future will take care of itself. Good financial planning means that your aims will not be a dream, but a reality. Investment planning means that you can take care of your family, exploring your best investment options to give them everything you want in life. Financial planning means that you take care of your future.
Financial planning for your retirement should start at an early age. Many people think that their children or job will take care of their pension, but this is not always the case. Ensure that your retirement is a comfortable one by making wise investment plans, so you can maintain a lifestyle in your retirement that you enjoyed throughout your life
Insurance Portfolio Management
A thriving business, a successful professional or a large family might eventually find themselves handling large numbers of insurance policies that cover various persons and aspects of their life and business. Insurance portfolio management involves taking stock of the insurance position of an individual, family or an economic entity in its entirety and on the strength of a detailed analysis, suggesting changes, improvements as well as additions or deletions considering evolving circumstances.
This is an involved process that we would only be too glad to provide to our dear clients. Of course, we would need complete information on your present insurance coverages to arrive at a suitable course of action.