User:Gpathela

Financial Planning is a comprehensive service that looks at all aspects of an individuals investment needs through a highly structured approach. The service is ideal for individuals who seek advise from the very beginning of their decision making process.

Financial Planning does not look at products. It is a planning and budgeting exercise. It first looks at your situation, understands you and your financial aspirations and articulates these into numbers. Before it advises a product, it seeks answers to questions like:

* At current inflation, how much would higher education cost 12 years from now, and how much do I need to save every year to accumulate this

* If I need 1 lakh today to manage my personal expenses, how much would I need 15 years from now when I retire

* How much of insurance cover do I actually need

Financial Planning is probably the most important aspect of investments. It helps you understand and appreciate the importance of starting early, managing your risk and having a structured approach rather than make ad-hoc investments.