Each one of us needs "Finance" at variuos stages of our life, and to ensure that we have the money available a the right time. We need money at the time of Education of daughter or sun, Marriage of a daughter or sun, medical emergency, or retirement etc. This is achieved by doing Financial Planning.
A Financial Planner is someone who uses the financial planning process to help another person determine how to meet his or her life goals. The key function of the financial planner is to help people identify their financial planning needs, their present priorities and the products that are most suitable to meet their needs.
The financial planner normally possesses detailed knowledge of a wide range of financial planning tools and products, but the planner's major role is to help clients choose the best products for each need.
The planner can look at all of client's needs including budgeting and saving, taxes, investments, insurance and retirement planning. Or, the planner may work with his client on a single financial issue but within the context of his overall situation.
The variuos stages of life for which financial planner helps determining the financial planning is as below.
1. Childhood Stage
2. Young Unmarried Stage
3. Young Married Stage
4. Young Married with Children Stage
5. Married with Older Children Stage
6. Post-Family / Pre-Retirement Stage
7. Retirement Stage
Reference http://www.amfiindia.com
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| Author: SHOBHA SINGH 27 Dec 2008 | Member Level: Gold Points : 1 |
Thanks Nilesh for a good finencial planning knowledge.Without a finencial planning any one not make a good life.
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| Author: Mala 29 Dec 2008 | Member Level: Diamond Points : 2 |
Hi Nilesh,
Yes financial planning is very important for every person to have a secured life while his living and also if he/she is not living with the family. All that matters in life is to be happy, enjoy a good life, have good schooling etc. The financial planings such as Insurance, Banking & Other investments helps a person drastically whenever he needs money.
Money is required in various walks of life. We cannot predict that we need the money now or we dont need it. We cannot predict our future and our health to always be good. We may sometime go wrong also. Hence proper investments will be very helpful in such circumstances.
Make it a point right now and start investing money for you and your family right away.
Best regards,
Mala.
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