What is Financial Planning?
Financial planning is a road-map to estimate your current and future financial position and thereby enabling you to achieve all your goals in a systematic manner.
The process of financial planning encompasses all the processes of identifying your financial goals and your risk-return needs and investing in the right products to help you achieve your goals.
Questions you should ask yourself while building a plan:
- What is my current net worth?
- What are my goals?
- How much money do I need and when?
- How much risk can I take?
- Where should I invest? - Stocks, Fixed income, Real estate, Commodity, Cash.
