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Financial Planning

A financial plan is a series of steps or goals used by an individual or business, the progressive and cumulative attainment of which are designed to accomplish a financial goal or set of circumstances

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Financial Planning

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  1. Financial Planning

  2. Contents Introduction • Planning • Financial Planning (FP) • FP Process • FP Concepts • FP Misconceptions

  3. Introduction Planning Planning means looking ahead and chalking out future courses of action to be followed Financial Planning is the process of meeting your life goals through the proper management of your finances.

  4. Financial Planning Concepts Cash Flow Analysis (Current status) Current Asset Allocation & Networth (Current Status) Risk Profiling Emergency Fund Analysis Protection Planning Investment Planning for Goals Estate Planning Tax Planning Monitoring, Portfolio rebalancing & Review

  5. Financial Planning Concepts a) Cash Flow Analysis

  6. Financial Planning Concepts • b) Networth & Current Asset Allocation • Assets – Liability = Net Worth

  7. Financial Planning Concepts b) Current Asset Allocation Analysis

  8. Financial Planning Concepts c) Risk Profiling

  9. Financial Planning Conceptsd)Emergency Fund Analysis Maintain a Fund with 3 to 6 times of your monthly expenses in cash or near cash investments.

  10. Financial Planning Concepts • e) Protection Planning (Life Insurance) • Income replacement Method • Expenses replacement Method • Recommended Product: • Term Insurance

  11. Financial Planning Concepts • f) Investment Planning (IP) Process • A diversified financial planning strategy will not eliminate risk or guarantee success. But it does offer an approach to help protect your assets, reduce risk and potentially grow assets over time. ... But overall, your investment plan should be diversified.

  12. Financial Planning Concepts • g) Estate Planning • Estate planning involves making plans for the transfer of your estate after death. Your estate is all the property that you own. It can include cash, jewellery, cars, houses, land, retirement, investment and savings accounts, etc.

  13. Financial Planning Concepts • h) Tax Planning Nothing is certain but death and taxes Tax Saving Products : Sec 80C: ELSS, Life Insurance, NSC,PPF,EPF,5 year FD, Home loan Principal repayment, SrCSS,NPS Sec 80 D: Mediclaim Sec 24 (b): Home loan Interest

  14. Financial Planning • Common Misconceptions - Financial Planning is for the Rich - Insurance Planning is Financial Planning - Tax Planning is Financial Planning - I am young to think about Financial Planning - Confuse Financial Planning with investing

  15. Thank you customer.care@finstem.com www.finstem.com

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