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You may not know about Financial planning

10 Benefits you may not know about Financial Plan

by Holistic Leave a Comment | Filed Under: Financial Plan

Why Financial Plan?

Failing to plan is planning to fail. In the world of personal financial management, planning is of essence. Failure to plan could lead to a situation similar to a rudderless boat being tossed around in the sea. Today, financial planning is a necessity and it qualifies as a need along with other needs in Maslow’s hierarchy.

What does a financial plan cover?

Financial planning covers a gamut of activities starting from budgeting, planning large purchases, to planning for the contingencies and unforeseen circumstances. Financial planning is about drawing up a road map for attaining financial goals while taking into account the assets, liabilities, strengths and opportunities available to an entity, individual or otherwise.

Reasons for drawing up financial plans

The major reasons for drawing up a financial plan are discussed below. It is expected that one can have a fair idea about the importance of a good financial plan from this account.

1. Assessment of risk:

Financial planning is about assessment. Risks are an inherent part of financial transactions and through proper assessment such risks can be mitigated. Picking the right financial product or insurance cover will act like a big umbrella during difficult times and cut down the element of risk.

2. Estimate of time:

A good financial plan will provide a detailed roadmap to achieve a financial commitment. A person who wants to save for his child’s future can act as per the financial plan by starting to save early so that he is ready with the necessary funds when required. This will help eliminate last moment panic situations.

3. Achieving the best returns:

Through meticulous planning one can maximize return on investments. A proper analysis of the liabilities, liquidity positions, associated risks and opportunities against the set financial goals can help in getting good returns.

4. Finding the right mix:

Through financial planning one can ascertain what is right and what is not. This helps to take a structured approach to investment. A position of under-insurance can be corrected and the investment portfolio may be restructured if the performances of some investment products are unsatisfactory.

Financial planning

5. Funding emergencies:

When an expenditure involving substantial outgo occurs, all of a sudden, only those following a sound financial plan will survive. They will have well provided for such unforeseen circumstances and hence will not feel the ripple caused by the sudden event.

6. Better manage funds:

It is often that people opt for products which are otherwise not as lucrative as projected. They may be carrying high charges. In such situations, the product can be disposed-off and replaced with products offering better returns.

7. Getting a balanced portfolio:

A good financial plan assures increase in cash flow for investors and guides them for taking good investment decisions. They can choose the best option while allocating their financial assets.

8. Bringing about a disciplined approach:

Without proper discipline nothing big can be achieved and this applies to the field of investment also. Through financial planning, when one opts for a Systematic Investment Plan, they inculcate certain discipline into their expenditure pattern. They curb unnecessary expenses to fund the SIPs’ and thus adopt a balanced approach.

9. Forward vision:

All of us want to peek into the future and look at a well settled life. In order to make this wish come true, one need not be an astrologer. Good financial plans will help achieve such a balanced life. Taking care of different responsibilities during the working years and then settling down to a leisurely retired life is always possible.

10. Estate and Will:

Financial plans are all encompassing and cover such important activities like writing of will and distribution of property. A well laid out will, can help avoid disputes afterwards.

Bottom line:

A good financial plan can thus be the key to a better future. Succeeding to plan your personal finances well will mean all round success in achieving good savings, making wise investment decisions, purchasing the right insurance cover, correct tax planning and being happy after retirement.

If you want to create a workable financial plan, then I firmly vouch for you to take advantage of our 30 MINUTES COMPLEMENTARY COUNSELING OFFER.

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews

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