Shrey Advisory Services Pvt. Ltd.

WHAT IS FINANCIAL PLANNING ?

Financial Planning is not some esoteric concept. It is for everybody who has financial goals to achieve or financial challenges to meet. In fact a lot of rich families believe that they do not need financial planning as they have enough wealth. Nothing could be further from the truth and the countless examples of bankrupt celebrities, industrialists, and sports persons are enough proof that if not managed well, "Any Income or amount of money can be spent or blown up."

Therefore, Financial Planning / Wealth Management is a process aimed at identifying all needs of an affluent family namely.

• Buying a home - Making Real Estate Purchases.
• Saving for their children's education.
• Protecting their family, business and assets through insurance.
• Investing their hard earned money in a judicious manner. Staying away from exotic and complicated investments.
• Managing debt.
• Planning for retirement.

According to an expert, people who have WRITTEN Financial Plans and follow the plan diligently over their lifetime end up making 5 times more money than an investor who doesn't have a financial plan.

Translating these needs into monetary goals at various times in future and planning savings, insurance and investments that will allow the individual to provide for and satisfy his future financial needs.

Financial Planning provides direction and meaning to your financial decisions…It allows you to understand how each financial decision you make affects other areas of your finances : for example, buying a particular investment product might help you pay off your home loan faster or it may delay your retirement significantly.