Do you need financial Planning in India? Stock market is giving y-o-y return more than 40%. Personal finance management in India is just simple.You just pick up a mutual fund, invest some Rs. 10000 and after 6 month you are making profit Rs. 10000.If you sell all the ancestral jewellery, you can make good fortune. Bank is chasing you for money either for home loan or personal loan.Money is every where. This is boom time for economy and you do not really need Investment Advisor. You need to make sound financial plan to win the odds using the predictability of your financial plan.
What you are doing with your Personal Finance? Like other salaried person, financial planning means tax planning for you. You have invested in endowment insurance , unit link insurance, children's plan , real estate, public provident fund, mutual funds, shares as per your friends advise. Still you have surplus money and you are clueless.
You are accustomed with hectic and lavish life style also. You have a big dream to buy luxury car, world trip but do not know how to achieve your dream.
Wealth planning with the help of investment advisor is the Solution for you.
How Financial Plannercan help you?
Your financial dreams are:-
a. Post tax retirement income Rs 1 lakh/month starting from 2036
b. Corpus of rs.20 lakhs for your kids by 2016
c. Corpus of Rs.10 lakh for your daughter marriage
d. Corpus of Rs. 75 lakh to start a business in 2014
e. Family trip once a year. Budgeted cost Rs.1 lakh.
A professional financial planner can help you to achieve your dream.
Assessment of your current finance by Wealth Planner
Observation by a wealth plannera. An excellent cash flow but not proper investment.
b. Sufficient cash reserves and good liquidity.
c. Unbalance portfolio. It is biased towards tax saving and real estate investment.
d. Tax planning need to improve.
e. Insurance planning need to be improved.
f. No Medical and house hold insurance.
Financial Risk Management
Financial Planner's main objective is to multiply your money with sound financial planning. a. Medical insurance cover need to increase to 4 lakh for each family member. b. A term insurance plan of Rs. 50 lakh. c. Home owner's all risk policy. d. Marriage woman property right for your wife against your insurance.
Investment Advisor's strategy for your personal finance
a. SIP is started for HDFC equity fund, Franlin templeton blue-chip fund b. Debt portion of investment continue to be PPF,EPF, RBI bond. c. Equity portion of their portfolio increased to 30%. d. Real estate portion is reduced as these are not very liquid asset. e. Systematic gold investment is recommended for daughter marriage.
Author is wealth Advisor. You may visit his site http://www.financial-planning-retirement.com
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