What’s Financial Planning?? • Financial Planning
Author : marina-yarberry | Published Date : 2025-05-14
Description: Whats Financial Planning Financial Planning is the process of successfully meeting the financial needs aspirations of Life through the proper management of finances Its your roadmap to Financial Health sustainable wealth
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Transcript:What’s Financial Planning?? • Financial Planning:
What’s Financial Planning?? • Financial Planning is the process of successfully meeting the financial needs & aspirations of Life through the proper management of finances. • Its your road-map to Financial Health & sustainable wealth creation. Why Do We Need Financial Planning?? • Life without Financial Planning is like an unplanned Vacation - A Complete Disaster!! • If we wish to achieve all our Financial Goals successfully & peacefully, planning your finances is a must do Who Needs Financial Planning?? • It’s a myth that only the Wealthy need Financial Planning • Whatever may be your level of Income or assets you need financial planning • Kings becoming paupers overnight is a reality of our world.. .not mere stories… Ok, So How do I go About it? • Step 1: Take stock of you Current Status. Sum up your cost of living, Net saving available for investment, Current Assets, Investments, Tax, Liabilities, Loans… • Step 2: Priorities your Financial Goals. Be specific about the money you need for each Goal and the time horizon you have set for each. Financial Goals..? Basic Mandatory Goals & Optional Goals • Basic Mandatory Goals like Higher Studies, Childs future, Purchase of House, Vehicle, Retirement Pension, Tax. • Optional Goals like a 2ndHouse, Luxury Items, Vacation abroad, Estate Planning, Wealth Creation, Financial Freedom Ok, Now What Next?? • Just Thinking & Gauging will Not help. Put it all down on you paper & work out a Clear time horizon for each goal. Financial Sector is clearly Sunrise. Look at these Statistics India’s population (+) 120 crores Less than 5% have bank accounts Less than 2% have Insurance Less than 1% have Mutual Funds Less than 0.5% have equity 1980 – 2011 CUMULATIVE ANNUALISED RETURNS (1980-2011) S.I.P Why Start Early? * Assumes compounded annual returns of 12% over the entire period Difference in returns is almost Rs. 82 lakhs! (Investment amount difference is just Rs. 3 lakhs) 35 30 5000/- 5000/- 60 60 Rs.18Lacs Rs.15Lacs Rs. 1,76,49,569 Rs. 94,88,176 Start Early 25 40 5,000 5,000 60 60 Rs. 21 lacs Rs. 12 lacs Rs. 3,24,76,345 Rs. 49,95,740 * Assumes compounded annual returns of 12% over the entire period Difference in returns is almost Rs. 2.75 crores! (Investment amount difference is just Rs. 9 lakhs) So click & send your financial worries to the experts at www.MyFinPlanner.com & let them do what they are best at
