Everyone has some dreams in life – whether it is starting a new business, buying a new house, traveling the world, planning your family’s future, or retirement. All these are called financial goals. As these goals have emotions, it also has a monetary value. Financial awareness, therefore, becomes a vital ingredient to effectively plan all of the above. Being aware of your requirements early in life leads to better financial planning.
Whatever activity we perform today will definitely have a strong effect on our future. Let’s understand this in detail.
You can’t predict the future. If at all you think earning more will secure your future then I would say that it’s only a myth. Only earning more will not assure you a better future but planning your future will definitely assure that your future is secured.
Earning money for a better future is important but saving a part of your income and capitalizing on the savings made will definitely assure you a secured and better future.
What is our approach towards saving?
INCOME-EXPENDITURE = SAVINGS
What should be our approach towards saving?
INCOME-SAVINGS = EXPENSES.
In the layman’s term, one thing I want to say is 1st save and then make any expenses and only saving is not enough, channelizing your savings with your future goals is something we should do.
The second most important step after Saving is
I know that when we hear the word “INVEST” we think to invest in lumpsum but we can also start today itself by investing rupees 500 or 1000 per month.
Now the question that will surely arise in your mind is how shall we plan our future? How much money should we save? How much money should we invest? Where should we invest? How to invest?
Keeping in mind the importance of savings and investment for a better future the concept of “FINANCIAL PLANNING” was started to make sure that whether time changes or not we are safe from all the risk that may or may not occur.
I know that we are very busy in our life but we also cannot ignore the importance of financial planning and thus the need for FINANCIAL PLANNERS arises.
Read More :- 5 Things To Do In The New Financial Year
WHO IS A FINANCIAL PLANNER?
Financial planner is a qualified investment professional who analyses the current financial position of clients and helps them to reach where the client wants to go in future. A financial planner is a qualified experienced person who will fill the gap between where you are and where you want to be.
A financial planner will analyse your assets, liabilities, short term and long term goals, will advise you in a systematic manner that will help you to achieve all your goals and will review your goals from time to time.
Financial Planner is a guide who will step in your shoes and advise you what is better for you. Customer satisfaction is the main motive of every financial planner.
The basic difference between a financial agent and a financial planner is that an agent is only interested in commissions but this is not the case for a financial planner. An agent may sell you a product and might get vanished but a financial planner’s job starts after he has advised you to make the following investment in order to reach your goal.
A financial planner is a person who will help you to attain long term financial stability even if you are retired and there is no source of income. He will plan your investments in such a manner that you don’t have to be dependent on others financially as your investments will give you handsome returns.
He is a person who is a keen market observer and who analyses the market and then would take the investing decisions for his clients.
So it is very important that you have a Financial Planner who guides you and handhold you in your financial life journey.
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