My earlier posts were related to the need for financial planning. Now to take it further, lets discuss on Insurance which is very much important as much as the need for financial planning.My earlier posts were related to the need for financial planning. Now to take it further, lets discuss on Insurance which is very much important as much as the need for financial planning.Lets start with the discussion on Life Insurance. Everyone must be aware that life insurance is basically to cover your life risk. This risk of your life is covered by an Insurance company which does so through you subscribing for a policy and judiciously paying premiums from time to time. Now understanding this, everyone will have a question in mind as to "why do i require a life Insurance?" or "when do i require life Insurance?". To understand this please have a look at this short video available on you tube which i came across on this subject.

Read more: Why life insurance is needed?

Source: The Times of India August 21, 2017

Many people dream of being financially independent. As the grind of earning money dominates our lives, a permanent reprieve from this is obviously the kind of freedom that most of us desire. There are degrees of financial freedom, and the ultimate degree is not having to earn at all for the rest of one's life. Obviously, apart from those with large inheritances (or those whose burden we taxpayers are committed to carry all our lives) it takes most of us an entire working life to reach that stage.

However, if you save and invest to a plan, lesser degrees of financial freedom can be achieved earlier in life, and can be just as meaningful.

For salaried people, achieving some kind of freedom early in life is even more important now than it was a few years ago. India is clearly passing through a job crisis. There are a number of urban middle-class people who have suddenly lost their jobs. Youngsters are finding their first jobs difficult to find, or have to settle for low-quality employment. Middle-level executives in their 40s and 50s are being shunted out because employers think they can be replaced at lower cost. Not just that, those who have jobs feel shaky about them, and find that they are unable to negotiate any improvement in their position, either with their current employer or a potential future one.

Read more: Start saving early if you want to be free

Hi all. Continuing on my earlier post on financial planning, this post provides a short summary on financial planning exercise in 5 steps. 

Before an individual takes an investment decision he has to clearly identify the goals, time frame, the age factor and his risk appetite.Based on this the asset allocation i.e. the proportion of Debt and Equity will be decided.

Read more: Financial Planning Exercise in 5 Steps

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.

Read more: Financial Planning