financial planning | wealthymatters

Financial Planning And Wealth Management

November 14, 2019 Leave a comment

wealthymatters Financial planning and wealth management are terms used quite interchangeably by the financial services industry, perhaps because from their point of view,either way. it’s just sales of financial products and services to generate revenue for their businesses.

But as a consumer it makes sense to make a clear distinction between the 2 terms.Personally,l’m of the opinion that the latter can delegated but never the former,at least the value based part. Read more of this post

Filed under Tidbits Tagged with financial planning, money mindfulness, money mindfulness workshop, personal finance, postaday, wealth management

Financial Planning And Investment Planning

June 12, 2018 2 Comments

Financial Planning is the process of meeting one’s life goals through the proper management of personal finances.

Sound financial planning involves 6 steps :

1.Establishing short, medium and long term life goals.

2.Tabulating assets and liabilities.

3. An evaluation of the current financial position to assess the distance to goal achievement.

4.Developing a plan that shows the way for achieving different goals

5.Implementing this financial plan

6.Monitoring and reviewing this financial plan at least yearly and making adjustments when needed. Read more of this post

Filed under Theory, Tool Kit Tagged with asset allocation, capital protection, Central Government Health Scheme, Contingency Fund, diversification of investments, estate planning, financial goals, financial planning, financial planning industry, insurance planning, investment planning, postaday, risk profile

The Ameriprise India Financial Intelligence Index Survey

June 27, 2013 Leave a comment

In this survey,an early start, goal-based planning and willingness to seek professional advice have made Mumbai investors the most financially intelligent in the country. Mumbai investors scored 5.8 on a scale of 10, the highest among the six cities, in this study conducted by TNS India on behalf of financial planning firm Ameriprise India. Delhi ranked second on the Financial Intelligence Index with a score of 4.5, followed by Hyderabad, Pune, Bengaluru and Chennai . The study gave equal weightage to five parameters: the age at which you start investing, portfolio diversification, long-term horizon, goal-based investment and seeking professional help. Nearly 700 upwardly-mobile investors with an annual household income of 12.5 lakh and in the age group of 28-45 years responded to the survey. Read more of this post

Filed under Paper Assets, Tool Kit Tagged with age at first investment, Ameriprise India Advisory Services, financial advice for couples, financial advice for women, financial assertiveness, financial confidence, Financial Intelligence Index, financial planning, financial planning firm, goal based investment, goal-based planning, long term horizon, long term investment, portfolio diversification, postaday, professional advice, retirement planning

Free Financial Plan

April 23, 2013 Leave a comment

wealthymatters Whether you decide to DIY or hire a financial planner,there is no denying that you can benefit by going through the process of defining yours goals,establishing a time frame,generating numbers to fulfill those goals, focusing on your risk taking appetite and ability,your incomes and expenditures,assets and liabilities etc.

Nowadays its common to get calls from assorted fund houses and advisory businesses offering to draw up a free financial plan for you.You could try them out as long as you can withstand sales pitches and walk away without buying products and services of dubious value which you don’t need.Fee based financial planners too offer a free first consultation and might give you a sketchy plan as an incentive to hire them.

If you are looking for a planner you will be forced to kiss all the frogs around before you find one who will do.Even then as you progress wealth wise and experience wise you will outgrow your planners and advisers For you, going out to meet these advisers is a must.However, if you are upto to do a DIY plan you could just use the link :Here and save yourself a lot of time and hassle.Most free plans are unlikely to be better than this.And this one is a good starting place and will give you some fast answers.

Filed under Tool Kit Tagged with advisory business, asset, defining your goals, expenditure, Fee based financial planners, financial planner, financial planning, Free Financial Plan, fund house, Income, liability, postaday, risk appetite, risk taking ability

Be Hands-On In Money Matters

April 23, 2013 1 Comment

wealthymatters Every day,these days,scores of businesses are opening shop in the financial advisory space.Their siren call is ‘Listen to us!Give us your money.Then relax,take it easy or go off and make more money.We will ensure you get rich and have have a great worry free life.Your family will never want for anything in this life.’Each of them have propitiatory tools and processes that they claim are magic wands that will ensure your financial well being.

The problem here is that personal finance is fundamentally personal and varies from person to person.There is a huge value component that these companies gloss over.Most of them will tell you that you need to build a corpus for your children’s education and marriage,your retirement and to take care of providing for health care.Many have readymade numbers for these goals.A few more will throw in planning for a home purchase,car purchase and perhaps a foreign vacation.But is this what you really want?Perhaps you want multiple homes in multiple locations?Maybe you wish to build them yourself,with your own hands.Log cabins anybody?How many of these plans allow enough flexibility for you to be yourself and do what you really want to do?Since it’s plans that are being sold,do planners really want to go beyond the cookie cutter variety and put in more effort?Do they have the competence to dish out advice for unique goals? Read more of this post