An emergency fund is a readily available source to help you solve financial crises due to unexpected reasons. This fund helps improve financial security by creating highly liquid cash to meet any emergency
We consider the family goals, dependent’s and family expenses, family income, liabilities, assets and on this available information, come to a specific coverage amount so that client is neither under insured or over insured.
Data gathering , Goal mapping, Risk assessment, Asset allocation, Portfolio Review
The objective of tax planning is to make sure there is tax efficiency. … Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success
EMERGENCY FUND PLANNING
Setting up a dedicated savings or emergency fund is one essential way to protect yourself, and it’s one of the first steps you can take to start saving. By putting money aside—even a small amount—for these unplanned expenses, you’re able to recover quicker and get back on track towards reaching your larger savings goals.
Without savings, a financial shock—even minor—could set you back, and if it turns into debt, it can potentially have a lasting impact. The amount you need to have in an emergency savings fund depends on your situation. Think about the most common kind of unexpected expenses you’ve had in the past and how much they cost. This may help you set a goal for how much you want to have set aside.
EMERGENCY FUND PLANNING
We’ve all experienced unexpected financial emergencies— an unexpected medical bill, a broken appliance, a loss of income, or even a damaged cell phone. Large or small, these unplanned expenses often feel like they hit at the worst times.
Setting up a dedicated savings or emergency fund is one essential way to protect yourself, and it’s one of the first steps you can take to start saving. By putting money aside—even a small amount—for these unplanned expenses, you’re able to recover quicker and get back on track towards reaching your larger savings goals.
Without savings, a financial shock—even minor—could set you back, and if it turns into debt, it can potentially have a lasting impact. The amount you need to have in an emergency savings fund depends on your situation. Think about the most common kind of unexpected expenses you’ve had in the past and how much they cost. This may help you set a goal for how much you want to have set aside.
INSURANCE PLANNING
While financial planning focuses on accumulating wealth, insurance focuses on risk management strategies to preserve it. It involves Evaluating risk and assessing different types of insurance, from health insurance, life insurance to property to disability insurances
INSURANCE PLANNING
While financial planning focuses on accumulating wealth, insurance focuses on risk management strategies to preserve it. It involves Evaluating risk and assessing different types of insurance, from health insurance, life insurance to property to disability insurances
GOAL BASED INVESTMENT PLANNING
Investments are not simply numbers on a screen; investments represent money that we set aside for some future purpose or goal. Are we investing with that purpose – with that goal – in mind?
Viewing investments through the lens of short-term performance offers a limited perspective. Risk is judged as the average amount of annual volatility. Portfolios are constructed to minimize this volatility for an expected annual return. Little thought is given to how and when the money is actually spent.
If the purpose of our savings is to pay for a spending goal such as a college education or an income in retirement, shouldn’t we focus on how well the strategy helps us meet our goal?
We Build a portfolio, including different investment vehicles, diversification and risk management.
Goal Based Investment Planning includes following-
1. RETIREMENT PLANNING-Planning for retirement is a way to help you maintain the same quality of life in the future. You might not want to work forever, or be able to rely on your children to survive. Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing investments vehicles.
2. TAX PLANNING- Tax planning is the analysis and arrangement of a person's financial situation in order to maximize tax breaks and minimize tax liabilities in a legal and efficient manner.Tax rules can be complicated, but taking some time to know and use them for your benefit can change how much you end up paying (or getting back) when you file.
3. CHILDREN’S EDUCATION AND MARRIAGE PLANNING- While it may seem a bit early to think about college, rising education costs are a fact of life. And it's never too soon to start saving and taking advantage of the power of compounding. Planning for children's marriage starts when the children are young. You must save and invest as early as possible to give the money the time to grow into a large corpus.
4. ESTATE PLANNING- Estate Planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker.
Estate planning covers the transfer of property at death as well as a variety of other personal matters and may or may not involve tax planning. The core document most often associated with this process is your will.
GOAL BASED INVESTMENT PLANNING
Goal-based investing (GBI) involves a us measuring client’s progress towards specific life goals, such as saving for children’s education or building a retirement nest-egg, rather than focusing on generating the highest possible portfolio return or beating the market. It is valuable because it helps us understand why we are saving in the first place.
Investments are not simply numbers on a screen; investments represent money that we set aside for some future purpose or goal. Are we investing with that purpose – with that goal – in mind?
Viewing investments through the lens of short-term performance offers a limited perspective. Risk is judged as the average amount of annual volatility. Portfolios are constructed to minimize this volatility for an expected annual return. Little thought is given to how and when the money is actually spent.
If the purpose of our savings is to pay for a spending goal such as a college education or an income in retirement, shouldn’t we focus on how well the strategy helps us meet our goal?
We Build a portfolio, including different investment vehicles, diversification and risk management.
Goal Based Investment Planning includes following-
1. RETIREMENT PLANNING-Planning for retirement is a way to help you maintain the same quality of life in the future. You might not want to work forever, or be able to rely on your children to survive. Retirement planning has five steps: knowing when to start, calculating how much money you’ll need, setting priorities, choosing investments vehicles.
2. TAX PLANNING- Tax planning is the analysis and arrangement of a person’s financial situation in order to maximize tax breaks and minimize tax liabilities in a legal and efficient manner.Tax rules can be complicated, but taking some time to know and use them for your benefit can change how much you end up paying (or getting back) when you file.
3. CHILDREN’S EDUCATION AND MARRIAGE PLANNING- While it may seem a bit early to think about college, rising education costs are a fact of life. And it’s never too soon to start saving and taking advantage of the power of compounding. Planning for children’s marriage starts when the children are young. You must save and invest as early as possible to give the money the time to grow into a large corpus.
4. ESTATE PLANNING- Estate Planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker.
Estate planning covers the transfer of property at death as well as a variety of other personal matters and may or may not involve tax planning. The core document most often associated with this process is your will.
