The Benefits

A Big Part of Financial Freedom Is Having Your Heart And Mind Free From Worry About the What –Ifs Of Life.

Can u imagine a life without planning? – Many do to their regret in the sunset years.

Why do we need a Financial Plan?

All of us have a dream for the future – some of us want a luxury car, some want a bigger home, those among us married dream for their kids too. – For their education, marriage, dream holidays. These are some of the dreams and then there are the daily nitty gritty’s.

However most of these decisions are made in a slapdash manner. There is normally lack of direction, the result being the goal not being achieved or delay in achieving the goal most importantly there is a complete lack of interest towards planning for retirement, or a casual attitude towards it.

Today an average person lives for at least 15 -20 years post retirement. How do you maintain the lifestyle you are accustomed to if there is no planning for income generation?
Financial Planning is one of the things that not many people think about; but the day to day concerns take over.
But Remember: A goal without a plan is just a WISH
While we cannot predict the future, you can certainly be better prepared for it.
A written plan is designed to make sure that you are financially prepared to deal with whatever happens in your life. And this is not just dealing with the unexpected events, but basic things like buying a car or taking a loan, funding your children’s education or marriage, or taking care of your loved ones.
You don’t have to be wealthy to have a financial plan. Neither do you have to be very old and approaching retirement. In fact the earlier the better.

It does not matter how much you earn or what your age is. All of us have something to plan for.

In fact, our financial situation influences almost every aspect of your lives….from the type of house we live in, to the type of car we drive, to how many vacations we can take.

That’s why it becomes all the more imperative to plan from an early age.

Some of the benefits of Financial Planning are:

1. It helps in knowing the net worth (All your assets less the Liabilities)
2. One has an idea of the cash flows – All the sources of Income and Outflows that is the expenses)
3. Plans for Goals you want to achieve
4. Helps to monitor investments
5. Helps in increasing savings
6. Helps in reducing taxes
7. Most importantly it helps in planning for retirement
8. Helps in providing for dependents in case of unfortunate incidents
9. Helps in creation of wealth
10. Helps in protection of wealth
11. Protects the family financially in the event of a death
12. Helps in distribution of assets to heirs