Why do you need a good financial planner

What is financial planning as a concept?

Financial Planning in simple words means planning your finances in such a way that you are able to invest your income in the right direction and thus create long term wealth and managing your finances in a way which helps you to meet financial goals like Child education, daughter marriage and retirement planning.

When do you need a financial plan?

A lot of people think that there are just in late 20’s or early 30’s, why do they need to think about future which is going to come after 15-20 years. Well, planning for finances in advance also helps in creating wealth and meeting long term financial goals. So the best time to review your financial plan is today

Why do you need a financial Planner

You need a financial planner because of the following reasons

1. Updated with all financial products

Every person is the master oh his trade, and so is financial planner who will assess your requirement and suggest you the best suitable financial product to you. Spending money on buying insurance or mutual funds doesn’t help you in meeting long term financial goals, but along with it, proper planning is required. You need a financial planner who will analyse your risk profie, your current income and finally fit you the best term plan or mutual fund or fixed deposit as per your need.

2. High Level of Service

Financial Planning is not a one day process. It is more of a continuous process where your financial planner would monitor your investments every year and make changes to your portfolio which the change in the economic conditions in India and changing debt markets scenario. As he is getting paid to render you quality service, he is likely to do well as compared to so called mutual fund agents or insurance agents.

3. Understands your complex financials

A good financial planner would analyse a lot of things and understand your financial goals before asking you to invest somewhere. Like

·         Your current take home salary

·         Your savings scenario

·         Your monthly expenditure

·         Your current fixed assets

·         Your future goals

·         Your insurance requirement

·         Your contingency plan

After asking and analysing all the above points, he will design a picture in his mind and design a financial plan for you and your family needs

4. His Experience would be of good use to you

The financial planner must have dealt with a lot of people with different situations. As a experienced financial planner, he must have seen the ups and downs of the equity and debt markets. He would guide you to a conclusion where you are benefited with high returns in a long run

Do leave your valueable comments if you feel in favour or against the concept