Financial Planning

Financial Planning is the process of managing personal finances so that the current and long term financial needs are met in the best possible way. It involves estimating funds for your future needs  based on current income, expenses, current liabilities, future aspirations (financial goals), projected incremental income, expenses.

 A financial plan should be comprehensive and include a number of elements like:

• Financial goals
• Buying your dream home
• Saving for your children’s education
• Planning for your dream vacation
• Analysis of your cash flow
• Strategy for retirement
• Risk management plan (falling sick, loosing job etc.,)
• Tax planning
• Estate planning