Now people want to know what is best “Financial Advisor vs. Financial Planning,” we say Both. How? Well, Financial Advisor will give you the information about financial services that where you can invest but all the things you need to do it on your way.

Financial Planning is important for every individual, no matter what you do, what your profession is, but if you have a brief information of financial services you’ll double your money without losing your precious time.

If you have no Financial Knowledge or have no idea about how investment plans work, you can always hire a Financial Advisors and ask them about it. They’ll help you but beware from the wrong one. 

Now, we are going to share 7 easy steps of financial planning which will help you to make your future happier and healthier.

1. Goal Planning

Financial Guide

There are multiple types of Goals, and There are Long term goals and Short term goals, Smart Goals, and Career Goals, or Life Goals. It just doesn’t matter what your goal is but if you know your goal setting theory, then you’re going ahead in your life. Identify your goals and pursue them to live healthy and happier life. 


2. Investment Planning

Financial Guide

Know your limits, save your money to invest it in a better place. If you have financial knowledge, you can be a smart investor. Save your money and make SIP Investment or invest in Mutual Funds, or you can also make alternative investments. Once Warren Buffett said, Do not put your all eggs in a single shell. 

Look for the investment opportunity, it is right there, in front of your eyes, you just need to look with more attention. Long Investment is the Best Investment.


3. Risk Management (Insurance) 

Financial Guide

Learn how to manage your risk because if you can’t control it, you’ll be on the road and looking for hope. There are several risks, Market Risk, Operational risk and you need to understand what is risk management.

In simple words, Risk management means reducing the cost of being lost. Learn the Risk Management Process and secure yourself from having a significant loss.


4. Retirement Planning

Financial Guide

Prepare yourself for your old age. Every single person will turn to an age where they need proper support from wealth. No likes to depend on others, whether it’s a family or someone else. Isn’t it better when you support yourself in your old age?

Yeah, well it is. Make your best investment plans and find the suitable pension schemes for your future. Do not think that, “Yeah, I’ve got time, I’ll save later,” No you will not. You just blink an eye and Bamm!! You turn Old. 

Prepare yourself for better innings and to play long.


5. Create Future

Financial Guide

Now that you have an income source, it is a time where you create your future. Whatever you do now, will create your future. If you invest you’ll get rich in future, if you don’t, you’ll have just regular wealth, just like the others.

Don’t be like others, Be Your own. Do something new and make future full of money and happiness.


6. Tax Planning

Financial Guide

Be aware of the taxation system. When you earn you pay tax. There are Income Tax, Capital Gains Tax, Sales Tax, etc. Now people thought, it’s my money, why would I pay taxes? The answer to this simple question is, you use government services, that’s why you pay tax. 

Now you can save your tax amount by investment that money in ELSS funds and other government bonds and securities. Consult your Financial Advisor that how you can save taxes and get the maximum benefit of tax planning.


7. Review You Plan

Financial Guide

Now that you do your planning, it is time to review. Check once again that you haven’t missed anything. Fill your list with the plan that you need in the future. 

Sit back and think about the time you had nothing and reflect on the future when you’ll have everything. 🙂