Being an Associate Financial planner Insurance and risk management undertake to assist clients in the financial planning space. This would involve identifying major financial goals and build a step by step plan and implement those plans to meet the set goals. This would involve need and risk analysis.
- Have you ever set up financial goals to be achieved in life?
- Do you know how much investment is required to achieve these goals?
- Do you know how much is real return on your investments after considering inflation rate and taxes?
- Do you know how much retirement fund will be required at retirement age to maintain your current lifestyle?
- Do you know how much Life Cover you have? Do you know adequacy of life cover taking into consideration your current lifestyle?
- Have you adequately insured your tangible assets?
- Do you know all available tax exemptions/rebates available?
- Do you periodically review your investments and also goals?
- If you don't have answers to these questions, you need a proper financial planning.
Financial Planning is the process of identifying and defining your financial goals, prioritizing them and achieving these goals with a clear, focused and a customized game plan. Financial Planning can help you achieve both greater wealth and financial security, while inadequate or improper planning can be disastrous. Financial Planning is an ongoing and continuous activity involving investment management, cash flow planning, retirement planning, insurance planning, tax planning and estate planning.