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Financial Planning isn’t just about the money-related choices you make – it’s about your future. It helps you achieve your short and long term goals, be it a new home or a comfortable retirement.
A sound financial plan helps you prioritize and budget so you piece together your finances in a way that’s best for your financial health. It takes into consideration your assets, debts, inflation and volatility. Not just that, but you can also minimize your current and future taxes, optimize benefits and protect your loved ones in various scenarios.
Know WHY to plan? Here’s WHERE to put your money.
Select your age group
At this age you might have minimum financial responsibilities, which makes it’s easier for you to focus on growing your money and planning for tax benefits as well.
This period is about making decisions and prioritizing. You may be planning a family or have already started one and have a clear career path set. It’s time to start an investment portfolio, establish an emergency fund and understand how planning money will deliver the lifestyle you want.
It’s time to put youth aside and save for your child’s college, start building a retirement fund and simultaneously work towards buying a house of your own. Your financial plan needs to help you pay off debts and look after your aging parents’ needs.
You’re in the second half of your career and have probably starting to think about retirement. It’s easy to mistake 60 as the “finish line” but your finances need to take care of you for at least two decades more. You will need to financially support your kids and explore retirement funds.
If you haven’t planned for retirement, it’s never too late to catch up. Figure out your spending, earn from your investments and bridge the gap for longevity of finances.
No matter what stage of life you’re at, keep these basic Financial Planning Principles in mind!
Your and your family’s current & future needs are unique. Also, your risk tolerance and risk capacity are unique to you. We will help you make the right investment at the right time on basis of your risk profile and future needs.
We all plan our vacation, right? Then why not our goals? Spend time with your family deciphering how you want the future to look like. Better to get pleasantly surprised and plan right now rather than regret later. Knowing what you want will help us in offering the right solution.
A penny saved is a penny earned. Save tax first. We have a range of tax saving options from Equity Linked Saving Scheme to PPF, to ensure you save on tax and simultaneously create wealth.
Inflation and market volatility can have a corrosive effect on your savings and investments. The only way to tackle this is to have a sound financial plan with a diversified investment portfolio.
When it comes to investing-diversify. Simply “don’t put all your eggs in one basket”. Diversify by making investment in-Equity, Debt, Real Estate or Gold so that your investments are hedged. Basis your life stage we suggest appropriate investments across asset classes so that you get customised investment solutions.
With the help of these financial planning articles
*All the names, characters, designations and images provided herein only for pictorial representation and the same are used in a fictitious manner, any resemblance thereof to actual persons or entity, living or dead or actual, or existing, is purely coincidental. Home loans and Car loans will be sanctioned to the eligible Customers at the sole discretion of the Bank, subject to the bank’s internal product policy/ guidelines. Investment Options offered by the Bank shall not constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of the Bank and Applicant may avail any such Investment Option voluntarily at its sole risk and responsibility. All the products and services offered by the Bank shall be subject to such terms and conditions as may be stipulated by the Bank, Reserve Bank of India (RBI)/ Government of India or such other Statutory / Regulatory Authorities, from time to time."
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Benefits of 7th Pay Commission