Hi All, This is my first post on the topic of financial planning. I will be posting similar informative posts, videos etc related to the subject. Hope you all find it useful.

Financial planning is the pre-requisite before executing any investments. Financial planning involves identifying various goals or requirements that are likely to come up during the lifetime be it Holiday trip, Children's education, Own Marriage, Children's marriage, Retirement, Buying a car or house, and many more. Identifying the goals and listing them down is very important to develop a financial plan, this will require a dedicated time to think over the requirements of the future. The goals can be short term or long term. Once the goals are identified, the goals needs to be prioritized based on its time horizon and necessity. Once the process of identification and prioritizing is completed one has to plan for the funds that will help him/her achieve these goals, This will involve identifying the balance surplus available after deducting all the expenses from the earnings. Based on this surplus and the risk profile of the individual the investment needs to be made in various investment avenues available.The journey doesn't end here, these investments needs to checked at various interval the performance in line with the plan.

I am sharing a very good short video from DSP Blackrock on the subject of financial planning.

Hope this was informative. Stay tuned for similar updates.