Financial Planning is a step by step process that helps an individual to meet his goals of life through proper management of financial resources. Planning is a process for accomplishing purposes. It helps in forecasting the future and makes the future visible to some extent. It creates a bridge between where we are and where we want to go. Planning is looking ahead. Every individual wants to fulfill, their own financial needs & desire. We all know of inflation and how it affects our expenses, with each passing year. Financial Planning allows us to protect our-self & our loved ones from financial uncertainties, achieve our goals, plan for the best possible education for our children and retire with pride as and when we want.
Child Education is one of the biggest goals of parents these days because of the tough environment and high expenses involved. As a parent, your priority is your child's future and being able to meet your child's dreams and aspirations. The best asset you can give to your child in order to secure his future is a good education. As a parent we always want to see our child happy and healthy. There is no bigger joy than being able to meet your child's dream. Everyone will agree when I say providing a child with good education is not easy as it used to be earlier. You can start building your savings today and ensure a bright future for your child. So tomorrow when your child needs your support you don't have to depend on anyone else.
Retirement is the time when you would like to spend your days doing what you love - travel round the world, live in a farm house or give some charity. Given the high cost of living and rising inflation, employer pensions alone are not sufficient. Retirement planning has therefore become critical today. Life spans have been increasing due to better health and sanitation conditions in the country. However, the average number of years of employment has not been rising commensurately.
The result is an increase in the number of post-retirement years. Accordingly, it has become necessary to ensure regular income for life after retirement. Retirement Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards and enjoy your twilight years. Starting early helps save more. Hence we should start saving systematically to enjoy our retired life to the fullest.