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Holistic Investment

Will : legal declaration of how a person wish his/her possession to be disposed after their death

“The early bird catches the worm”

The earlier you start planning your expenses and savings, the easier it would be for you to reach your financial goals. Take the goal of retirement at age 60 for example. Suppose you want a corpus of Rs.1 crore at age 60, you would need to save about Rs.7, 500 per month at an assumed growth rate of 8% if you are 30 years old.

Your monthly saving would have to go up to about Rs.18,000 if you are 40 years old to achieve the same goal at age 60 at the same growth rate and to about Rs.Rs.58,000 if you are 50 years old when you would be left with just 10 years to invest.

Understanding Real Financial Planning

Imagine your neighborhood uncle who is also an agent offering advice which you think is free of cost. That is mostly not the case. The advice may not really suit your situation even if the intentions are genuine.

Often these people sell products that may have high charges and without understanding the full client situation. I have found that people pay tens of thousands of rupees on such wrongly bought products over the years.

Real Financial planners are professionals that can help you plan for your future. A financial expert typically has the knowledge to do far more for you than you could do on your own.

Unique Advantages of Financial Planning
  • Financial planner has in-depth knowledge of a particular area, so they can offer you expert advice. For example, what kind of investment schemes to be selected when investing for short term and what other schemes for long term.
  • Financial Planner will have thorough understanding about the general and specific financial issues and are also well acquainted with different ways of resolving any kind of financial issues.
  • We can’t plan for every eventuality in life, but an experienced financial planner can help you in planning for the unforeseen good or bad probabilities. The advantage of this is that you will be financially well prepared for the future.
  • We are very busy in our daily activities like managing office work , rearing up kids, taking care of our parents , etc. and amidst all this the planning of finance is overlooked. But if we have a financial planner with us, there is somebody who is always planning for our better tomorrow and this can help us in reducing our anxiety.
  • Are we saving enough? Can we achieve our goals with our saving potential or do we need to make some compromises? These kinds of analysis will be done only during a professional financial planning.
  • Understanding the different elements of risk in a person’s life situation and managing it with proper risk management tools like life insurance, health insurance, property insurance and creating emergency reserve becomes easier once you have a detailed financial plan.
  • Another advantage of financial planning is you can easily decide what investments to keep and what investments to withdraw. Any investment which is not supporting your financial plan can be withdrawn.
  • One more advantage of financial planning is whenever there is a change in your financial situation, you can go back to your financial plan and do a review and within no time you will be able to accommodate the change. As a result you will be able to control your finances better.

Saving money is usually a case of self-discipline. It may be hard, but having a savings cushion can provide financial peace of mind and a source of funds if you need them.

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