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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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Lingesh MMG
Lingesh MMG
20. September, 2023.
Na eppo tha financial goal la enna therunju kitta..enaku full support panna thuku thank you..🥰 friendly nalla pesuninga...
Ravi L
Ravi L
15. August, 2023.
Very knowledgeable and professional team, guided me with the precise financial solutions and timely suggestions.
Hardik Dave
Hardik Dave
5. July, 2023.
Holistic Investment is really nice and trust worthy financial planner. They plan things in realistic manner and also consider future dimensions of items also. They are always available for small or big queries, and also share knowledge and help you become more financial literate, and take right decisions in all financial matters.
Dr. Padmakar Wagh
Dr. Padmakar Wagh
27. June, 2023.
Mr Ramalingam who is the Director of Holistic investments has a excellent financial planning knowledge, the entire Holistic team has been very helpful in my financial planning journey and execution. This is my third year of financial planning with Holistic investments and so far I am satisfied with the progress I have made.
Binamra Dash
Binamra Dash
13. June, 2023.
Very knowledgeable team. Guided me properly with my concerns.
Murugan Bala
Murugan Bala
16. May, 2023.
I have been investing through Holistic for the past 4 years and my experience with them have been really good. The team of Rajan and Ramalingam doing excellent services in meeting my needs through proper guidance on investment options customized. Theya re always available on any specific needs time to time.I would recommend their services to my friends and colleagues too.
Neeraja R K
Neeraja R K
15. May, 2023.
Working with holistic investment planners was a really wonderful experience for me. For me the entire team had been very supportive in all ways. Their working strategy is well planned and methodical. They always keep me informed and updated about my investments, so that i can take informed decisions. The team first helps us understand the basics of investments, then they collect data, work with the data and then provide investments solutions according to our goals which i find it the best. Good luck to the entire team.
deepika kulkarni
deepika kulkarni
21. April, 2023.
We have availed holistic service from last couple of years and are very happy with our decision. Their systematic approach has helped us plan our finances and meet our goals. They provide very comprehensive and detail plan and resource management every 6 months which ensures we are on right track to achieve our goals. Rajan and Ramalingam from holistic are always there to help us with our queries. They have also accommodated any changes to our goals or resources mid year in a professional manner.
Ashook Panneerselvam
Ashook Panneerselvam
21. March, 2023.
For the past year, I have been interacting with Holistic Investment. I frequently read Nanayam Vikatan, which is a publication owned by the Vikatan family, and I was impressed by their financial advice. My brother also suggested holistic investing, and he also got excellent financial advice. Holistic Investment follows a methodical approach that I really liked because they first fully understand our financial situation "As Is," which includes "Assets" and "Liabilities," as well as our short-, mid-, and long-term goals, on the basis of which they provide a detailed plan on how to achieve our goals for which they are recommending various investment options. Even in the investment advice, why do they suggest particular mutual funds and what is the justification behind it, which adds transparency to the client. One essential factor is that they are always available. Even if I needed to make some urgent financial decisions, they were very helpful and kind to answer my questions via phone calls, WhatsApp messages, and emails. I was very happy with their service. Periodic reviews are also crucial, even though I have forgotten that they occur once every three months, and I also intend to renew this year.
Mahesh S
Mahesh S
19. February, 2023.
I have availed Holistic investment service for last 1yr against my early retirement decision. they provided me comprehensive detailed report how to move ahead with my existing resources. moreover, they are available to me whenever i have any doubt.. highly recommend others to avail their service
Google rating score: 4.5 of 5,
based on 104 reviews

Google Reviews

Lingesh MMG
Lingesh MMG
20. September, 2023.
Na eppo tha financial goal la enna therunju kitta..enaku full support panna thuku thank you..🥰 friendly nalla pesuninga...
Ravi L
Ravi L
15. August, 2023.
Very knowledgeable and professional team, guided me with the precise financial solutions and timely suggestions.
Hardik Dave
Hardik Dave
5. July, 2023.
Holistic Investment is really nice and trust worthy financial planner. They plan things in realistic manner and also consider future dimensions of items also. They are always available for small or big queries, and also share knowledge and help you become more financial literate, and take right decisions in all financial matters.
Dr. Padmakar Wagh
Dr. Padmakar Wagh
27. June, 2023.
Mr Ramalingam who is the Director of Holistic investments has a excellent financial planning knowledge, the entire Holistic team has been very helpful in my financial planning journey and execution. This is my third year of financial planning with Holistic investments and so far I am satisfied with the progress I have made.
Binamra Dash
Binamra Dash
13. June, 2023.
Very knowledgeable team. Guided me properly with my concerns.
Murugan Bala
Murugan Bala
16. May, 2023.
I have been investing through Holistic for the past 4 years and my experience with them have been really good. The team of Rajan and Ramalingam doing excellent services in meeting my needs through proper guidance on investment options customized. Theya re always available on any specific needs time to time.I would recommend their services to my friends and colleagues too.
Neeraja R K
Neeraja R K
15. May, 2023.
Working with holistic investment planners was a really wonderful experience for me. For me the entire team had been very supportive in all ways. Their working strategy is well planned and methodical. They always keep me informed and updated about my investments, so that i can take informed decisions. The team first helps us understand the basics of investments, then they collect data, work with the data and then provide investments solutions according to our goals which i find it the best. Good luck to the entire team.
deepika kulkarni
deepika kulkarni
21. April, 2023.
We have availed holistic service from last couple of years and are very happy with our decision. Their systematic approach has helped us plan our finances and meet our goals. They provide very comprehensive and detail plan and resource management every 6 months which ensures we are on right track to achieve our goals. Rajan and Ramalingam from holistic are always there to help us with our queries. They have also accommodated any changes to our goals or resources mid year in a professional manner.
Ashook Panneerselvam
Ashook Panneerselvam
21. March, 2023.
For the past year, I have been interacting with Holistic Investment. I frequently read Nanayam Vikatan, which is a publication owned by the Vikatan family, and I was impressed by their financial advice. My brother also suggested holistic investing, and he also got excellent financial advice. Holistic Investment follows a methodical approach that I really liked because they first fully understand our financial situation "As Is," which includes "Assets" and "Liabilities," as well as our short-, mid-, and long-term goals, on the basis of which they provide a detailed plan on how to achieve our goals for which they are recommending various investment options. Even in the investment advice, why do they suggest particular mutual funds and what is the justification behind it, which adds transparency to the client. One essential factor is that they are always available. Even if I needed to make some urgent financial decisions, they were very helpful and kind to answer my questions via phone calls, WhatsApp messages, and emails. I was very happy with their service. Periodic reviews are also crucial, even though I have forgotten that they occur once every three months, and I also intend to renew this year.
Mahesh S
Mahesh S
19. February, 2023.
I have availed Holistic investment service for last 1yr against my early retirement decision. they provided me comprehensive detailed report how to move ahead with my existing resources. moreover, they are available to me whenever i have any doubt.. highly recommend others to avail their service
Google rating score: 4.5 of 5,
based on 104 reviews

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