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Profit Plan Services Hyderabad, Cost Reduction services Hyd, Productivity Analysis Hyderabad, Investment Analysis services Hyd, Asset Analysis Services Secunderabad, Business Management Information Consulting service, Business Process Management Services, HRD Human Resource Management services India, Financial Management Service consulting Hyd, India
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Profit Plan Services Hyderabad, Cost Reduction services Hyd, Productivity Analysis Hyderabad, Investment Analysis services Hyd, Asset Analysis Services Secunderabad, Business Management Information Consulting service, Business Process Management Services, HRD Human Resource Management services India, Financial Management Service consulting Hyd, India

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FAQS

 
1. What is financial planning?
Financial planning is the process of managing your funds to achieve your desired goals in the required time frame. It involves analyzing your existing financial position, expected future cash flows, inflation and identified financial objectives to develop a comprehensive financial planning roadmap. This is aimed at making available the right amounts of funds at the right time in the future.

2. Why is a financial plan required?
A financial plan helps drive your financial decisions to a defined goal. It helps you determine how much to save today for the future you planned for, how much returns to expect on your savings and where to invest your savings to ensure you get the returns you desire.

3. What is the duration of a financial plan?
The duration of a financial plan depends on the goals that it sets out to achieve. It can cover
  • Short term, medium term and long term goals. Short term goals are normally targeted in a 1 – 3 year framework, for example a vacation abroad
  • Medium term goals fit into a 3-5 year horizon, for example, buying a home
  • Long term goals are achieved in a period of 5 years or more, for example retirement planning
4. What are the types of needs that I plan for?
There are various kinds of needs, some of which are listed below -:
  • Retirement
  • Child’s Education
  • Child’s Marriage
  • Asset purchase
  • Insurance
  • Investment
5. Who can draw up my financial plans?
You can make use of the skills of a financial planner who can help you with the financial planning process. A financial planner is aware of the range of investment and insurance products available for you to choose from and can suggest solutions that are in line with your needs, profile and situation.

6. What are the steps involved in financial planning?
Financial planning can be conducted in five basic steps:

Self analysis: “understanding you”
Before you begin your financial planning exercise, your relationship manager will analyse your present financial position and prepare your net worth statement, which will give a snapshot of your assets and liabilities.

Knowing and defining your needs
Once your current situation has been identified, your relationship manager will consider your future needs, in terms of the cash flows required for the future.

Identifying and defining solutions for your needs
Based on your financial requirements, the relationship manager will analyze the various investment opportunities available with their expected returns and identify those avenues that will possibly meet your expectations.

Facilitating a selection of appropriate financial solution
The relationship manager will share with you details of the investment opportunities identified by you and will apprise you of the risks and returns of each of those avenues so that you can make an informed decision

Providing updates on your portfolio
The relationship manager will provide you with regular updates on the performance of your investments. The financial planning process must be revisited regularly to factor in changes in your financial needs or underperformance of your investments.

7. Where can I invest my savings to get the desired returns?
Once you have determined how much you wish to invest, you need to decide where to invest. There are various investment options available depending on your risk – return profile. The various products available are:
  • Mutual fund schemes
  • Equities
  • Bank deposits
  • Bonds
  • Insurance Plans

8. What is my risk – return profile?
Every individual has their own risk taking capacity. Your risk-return profile is your level of risk tolerance. A high risk venture is normally associated with high returns. You could be one of the following three risk-return profiles or somewhere in between them:

  1. Conservative i.e. you take minimal risks ensuring your funds are secure. You prefer investing in post office deposit schemes, bank fixed deposits, government bonds
  2. Moderate i.e. you are willing to take some risks and prefer investing in mutual fund schemes
  3. Aggressive i.e. you are willing to take high risks and prefer investing in equity, commodities markets and you may even be speculating for returns.
9. Would a financial plan guarantee the achievement of my goals?
A financial plan can tell you what is required to achieve your goals, but it can not ensure you attain them. There are many circumstances beyond your control such as inflation, recession, political changes, your individual circumstances etc, which might hamper the achievement of planned results.

10.When should I start my financial plan?
The sooner you start your financial planning the better it is as it gives you more time to plan and gives your money more time to grow . Planning early increases your return possibilities while simultaneously reducing your risk.

How Do I?

11. How do I begin the financial planning process?
All financial plans begin with goal setting . You need to identify the time period for which you wish to plan and define goals in measurable units that you wish to achieve within this period.

The nature of the goals and the goals themselves vary depending on the individual. For a young individual who has started with his first job, the goal can be the purchase of a car. For an individual who has been working for the past few years, his goal can be the buying a house.

12. How do I allocate funds to various instruments?
Once you have identified the amount that can be invested, you need to know how much of those funds to put in the various kinds of investment options available.

Today, there is a wide array of investment options to choose from. The selection depends on your needs, profile and your individual circumstances.

13. How do I track my investments?
After investing, you need to ensure that you are getting the desired results from your investments . At regular intervals you need to track the performance of your investments .

For instance, in case you have invested in a mutual fund scheme, then the total value of your investments will be the product of the total units you have and the NAV of the units. The difference between this value and the amount you have originally invested will give you the returns on your investment.

 
 

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Profit Plan Services Hyderabad, Cost Reduction services Hyd, Productivity Analysis Hyderabad, Investment Analysis services Hyd, Asset Analysis Services Secunderabad, Business Management Information Consulting service, Business Process Management Services, HRD Human Resource Management services India, Financial Management Service consulting Hyd, India
Profit Plan Services Hyderabad, Cost Reduction services Hyd, Productivity Analysis Hyderabad, Investment Analysis services Hyd, Asset Analysis Services Secunderabad, Business Management Information Consulting service, Business Process Management Services, HRD Human Resource Management services India, Financial Management Service consulting Hyd, India
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