PLANNING YOUR FINANCE
Adult life has numerous goals and responsibilities, that need adequate cash flow for fulfillment. The systematic and step-by-step approach to achieve the life-goals is termed as Financial Planning. Whether the goal is to have a better standard of living, planning for your child’s education and marriage, buying a house or car, planning your retired life, or just being secured against future inflation; everything needs timely planning. Because as Alan Lakein said ‘Failing to plan is planning to fail’. We take a comprehensive approach to determine your short and long-term financial goals. Accordingly, we create a secure and sensible plan to achieve those goals.
ADVANTAGES OF HAVING PLANNED FINANCE
Why should you consult a financial advisor
There is a general query in people’s minds about why a financial planner should be consulted!! A financial planner can help to see the bigger picture of one’s monetary situation. Thus, he/she takes a holistic approach towards planning the financial goals, which benefits in manifold :
- An efficient way of increasing your savings, with better insights into your income and expenses
- Enjoying a better standard of living without compromising the lifestyle for paying up monthly bills and EMI
- Creating emergency or contingency funds to take care of urgent family expenses or handling drastic situations like “job loss”
- Tackling and being prepared for inflations are necessities that a financial planner can help by apt future projections and suggesting investments that offer you better returns over time
- Having your peace of mind once you have the plan of financial security blanket in place, for seen and unforeseen situations of the future.
RSFS APPROACH
Our financial planning approach is meticulously followed through certain steps –
- Primarily we establish a relationship with the client through the initial discussions. Here we give clarity about our way of working and gather insights about the client’s goals and needs.
- Through our detailed document services we collect required information and data from the client
- We do a thorough analysis of the current financial status and risk profile of the client
- With all the assimilated information and analysis we formulate a financial plan, having measurable goals to achieve.
- A detailed presentation of the plan given to the client with proper explanations and doubt clearing sessions.
- The financial plan is implemented after clients agree to it. We coach the client all through the implementation process
- Regular review and monitoring are done by us to see how the plan is performing.
- Monthly and quarterly reports are provided to the clients regarding the progress of their financial goals. Also, an annual meet with the client is carried out to review and readjust the planning as par need.
FOCUS AREAS OF FINANCIAL PLANNING
Every person has certain milestones in life. We plan our clients’ finance, primarily based on those milestones or focus areas. So that each and every important event and necessity of his/ her life are well secured and safe.
Thinking futuristically and planning for the secured retired life is as essential as any other financial plans. Once you start earning in your profession, you should have a proper plan of investment towards retirement in place. Because only a long term investment will give you the benefit from the magic of compounding. Our financial planners will help you to create an adequate corpus for those years of life when expenses keep incurring but income is evading.
With the birth of your child comes numerous responsibilities to you as a parent. And one of the qualities of good parenting is to plan for a secure future of your child. That involves your child’s education (higher or regular) and his/her marriage. Moreover, if you have more than one kid, your responsibilities increase. A long term plan will protect your child from facing any harsh situations in your absence and you can ensure their future is never troubled.
Certain events mark the milestones of life. One of the milestones is buying a home for your family. Likewise, acquiring different types of assets in the form of property or gold or business makes your future secured. But for all these asset creations long term financial planning is required. We always advise to plan early in life. Since, for a higher return of investment adequate time is required, so that you can achieve your milestones in the specific period of your life.
Everyday life shows a surge in the price in daily requirements. But modern life has certain needs towards the standard of living that you want to maintain and enhance in the future. It can involve purchasing a new/better car, going for a dream vacation, buying something special for your loved ones, or beautifying your home. Everything requires money and you need to create a sufficient pool of funds for that. These are the short term financial goals you have, which we help you to achieve through planning careful investments of your money in the right avenues.
A substantial amount of your income goes towards tax because you are unaware of the different schemes the government has provided to save your hard-earned money. There are various provisions to reduce tax outgo for people. Our experienced team of financial planners plan your taxes in advance and help you to identify the best ways of investment that achieve your life goals and at the same time reduce your taxable income.