Financial Plan
Financial Planning
Over the years, terms like financial planning have become a topic of discussion. Newspapers, blogs, magazines, television channels, and almost everyone is talking about financial planning. So, what is financial planning? In simple words, Financial Planning (FP) is the process of accomplishing your life goals through proper management of your finances. The process of financial planning should help you answer questions such as where are you today, i.e., your current personal balance sheet, where you want to be tomorrow, the finances associated with your goals, and what you need to do to achieve needed. There, that is, what you need to do to reach your goals.
Importance of Financial Planner
Financial planning helps you to set your short-term and long-term financial goals and make a balanced plan to meet those goals. The first step in developing your financial plan is meeting with a financial planner.
If you work with a financial planner, you will be prompted to answer questions about your income, expenses, and goals. If you can find the options and analyze them thoroughly, you can do it yourself, but it requires proper understanding, expertise, and time. Hence, it is always a
a better choice to appoint a financial planner.
And, the Basic Mantras of Making Money
Compound interest is the eighth wonder of the world
He who understands it earns it, he who doesn’t, pays it.
~Albert Einstein
Continue Exploring
Mutual Funds
Life Insurance
Health Insurance
Bonds
General Insurance
My Second Earning?
Research and History indicate these three golden rules for all investors
Invest early.
Invest regularly.
Invest for the long term and not the short term.
Research and History also indicate these four common investing mistakes
Investing without a plan.
Not diversifying well enough.
Ignoring risk.
Getting married to your investments.