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Showing posts from May, 2016

What every Person should know about Financial Planning!

Image courtesy of Stuart Miles at FreeDigitalPhotos.net


Being a Financial Planner whenever I discuss Financial Planning with any of the friends, or my relatives, or even new clients, they misunderstand it to be only investments. Their replies range from ‘Yes, we are doing savings’ to ‘We have to start investing.’ For them Financial Planning is nothing but managing investments. Let’s all accept it, for most of us Financial Planning is nothing but investing. But is it correct? Does Financial Planning means only managing investments. Yes, Investment is one part of Financial Planning, but Financial Planning is a bigger picture which most people don’t understand.
So, let me explain what Financial Planning is all about, and then you can take an informed decision if you should follow this process for managing your money.
1.Financial Planning is an On-going process: Financial Planning is not a one-time activity. It is a continuous process, where you decide on your life time goals which get rei…