Live Market Watch
Financial Planning

A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, childrens education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.

Having a financial plan is like having a travel plan - it identifies where youre going, how and when youll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life.

Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much of trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience of the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.

Do you need financial plan?

Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepared for it. An effective financial plan will make sure that you are financially prepared to deal with the unexpected events and stormy times. If you dont have one, youre more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met. A good financial plan can alert you to changes that must be made to make sure a smooth transition through lifes financial phases, such as decreasing spending or changing asset allocation.

By developing a financial plan you and your family:

  •     Will have a better understanding of your current financial position.
  •     Determine attainable retirement, education, insurance, and other financial goals.
  •     Review goals, funding strategies, and alternatives to balance all goals.
  •     Have the necessary financial resources set aside to fund your goals as they occur.
  •     Reduce the effects of unexpected events such as disability, premature death etc.

You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavorable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyze your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.

Risks of not having a financial plan:

  • You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.
  • You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.
  • You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.
  • You might become a victim of mis-selling and build a corpus of investment products that neither suits your financial needs nor your risk profile.
  • You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for.

Tips for Effective Financial Plan

  •     Be realistic with your investment returns; dont plan to outperform the markets.
  •     Account for market risk and dont assume the same return to repeat every year.
  •     Dont forget to plan for inflation, taxes and your financial planners fees.
  •     Review your financial plan regularly to see if you are on track or need any changes in the plan.

The need for financial plan is all the more very important in the turbulent economic times of today. If you dont have one till now, dont delay any more and Get it Now. Dont be self-satisfied that you will be okay whatever happens. Face the reality. Unless you develop a financial plan early, it will be too late.

We at Aniraj Capital believes in the best practises and adopt the same for our enlightened clients , We always plan a comprehensive route to manage your wealth and achievement of Important financial Life Goals.

Schedule a Meeting With Us


Latest News

Future Xiaomi smartphones could feature 120Hz refresh rate display, 50x zoom The camera app menu includes support for a new telephoto sensor with up to 5x optical zoom.
Mon, 14 Oct 2019 16:15:11 +0530

Torrent Pharma Q2 PAT seen up 8% YoY to Rs. 220.3 cr: Emkay Net Sales are expected to increase by 9.4 percent Y-o-Y (up 2.5 percent Q-o-Q) to Rs. 2,073 crore, according to Emkay.
Mon, 14 Oct 2019 16:15:11 +0530

Ipca Labs Q2 PAT seen up 34% YoY to Rs. 160.2 cr: Emkay Net Sales are expected to increase by 12.8 percent Y-o-Y (up 11.3 percent Q-o-Q) to Rs. 1,125.4 crore, according to Emkay.
Mon, 14 Oct 2019 16:12:40 +0530

Granules Q2 PAT seen up 19% YoY to Rs. 72 cr: Emkay Net Sales are expected to increase by 13 percent Y-o-Y (up 10.3 percent Q-o-Q) to Rs. 656.4 crore, according to Emkay.
Mon, 14 Oct 2019 16:09:59 +0530

Glenmark Q2 PAT may dip 46% YoY to Rs. 132.8 cr: Emkay Net Sales are expected to increase by 2.4 percent Y-o-Y (up 13.8 percent Q-o-Q) to Rs. 2,642.7 crore, according to Emkay.
Mon, 14 Oct 2019 16:07:32 +0530

Ratan Tata to invest in Tork Motors "In the last few years, there has been a sea of changes in the attitude towards electric vehicles. This industry is changing rapidly and I place good value on the sound logic and the approach that the team at Tork Motors has taken," Tata Sons Chairman Emeritus Ratan Tata said in a statement.
Mon, 14 Oct 2019 15:59:05 +0530

Dr. Reddy’s Q2 PAT may dip 10% YoY to Rs. 455.9 cr: Emkay Net Sales are expected to increase by 9.7 percent Y-o-Y (up 8.4 percent Q-o-Q) to Rs. 4,167.1 crore, according to Emkay.
Mon, 14 Oct 2019 15:56:31 +0530

Divi’s Q2 PAT may dip 9% YoY to Rs. 363.7 cr: Emkay Net Sales are expected to increase by 5.4 percent Y-o-Y (up 16.5 percent Q-o-Q) to Rs. 1,354.7 crore, according to Emkay.
Mon, 14 Oct 2019 15:53:13 +0530

Indian buyers slash Malaysian palm oil purchases fearing duty hike: Traders Lower purchases by India, the biggest buyer of Malaysian palm oil so far in 2019, could lead to higher inventories and put pressure on Malaysian palm oil prices, but help rival Indonesia in raising its shipments to India.
Mon, 14 Oct 2019 15:52:03 +0530

Cadila Healthcare Q2 PAT may dip 23% YoY to Rs. 321.5 cr: Emkay Net Sales are expected to increase by 17.4 percent Y-o-Y (down 0.6 percent Q-o-Q) to Rs. 3,475.2 crore, according to Emkay.
Mon, 14 Oct 2019 15:49:58 +0530

Buy Infosys; target of Rs 880: Sharekhan Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 880 in its research report dated October 11, 2019.
Mon, 14 Oct 2019 15:49:10 +0530

Hold IndusInd Bank; target of Rs 1373: Arihant Capital Arihant Capital recommended hold rating on IndusInd Bank with a target price of Rs 1373 in its research report dated October 11, 2019.
Mon, 14 Oct 2019 15:48:53 +0530

Aurobindo Q2 PAT seen up 6% YoY to Rs. 675.1 cr: Emkay Net Sales are expected to increase by 18.8 percent Y-o-Y (up 3.7 percent Q-o-Q) to Rs. 5,645.7 crore, according to Emkay.
Mon, 14 Oct 2019 15:47:19 +0530

LT operationalises 2 units of 660 MW each at NTPC#39;s Khargaon, Tanda plants The operationalisation of these units has enabled NTPC to add 1,320 MW capacity to national grid and also demonstrated the company#39;s capabilities in executing complex power projects, LT said in a statement.
Mon, 14 Oct 2019 15:47:05 +0530

Asahi Songwon Standalone September 2019 Net Sales at Rs 71.61 crore, down 14.7% Y-o-Y NULL
Mon, 14 Oct 2019 15:45:18 +0530