Welcome to Beyond Money

FINANCIAL LIFE PLANNING

Financial Planning is defined as “Financial Planning is the process of meeting life Goals through the proper management of finances.”


One of the important and critical steps in the process of Financial Life Planning is Goal Setting.  It needs holistic approach to discover aspirations as well as need to adopt the life style which will be sustainable in longer term. One needs to think about non financial things affecting the lifestyle. It is about simplifying the lifestyle, spending quality time with family, changing own habits, nurturing the hobbies. During this process one understands money and the meaning. Money no more remains the end but becomes means to leave a sustainable and fulfilling lifestyle. Other financial goals can include buying a home, saving for your child’s education or planning for retirement. Financial Planning is important as each financial decision affects other areas of finance.


Financial Planning helps to organise finances, improve cash flow, lower personal income tax, plan for retirement, plan for children education, improve performance of the portfolio, enough insurance with minimal cost etc.


In India stock broker, insurance agents and mutual fund distributor etc act as Financial Planners. Most often they are more interested in selling a particular product under broader spectrum of Financial Planning. However, Financial planners is the person who helps to set and achieve their long-term financial goals  through investments, tax planning, asset allocations, risk management, retirement planning and estate planning etc. He may consult various intermediaries for certain matters, but he the one who provide an integrated service to the client to help him to achieve his goals. Bases on the fees there are three types of Financial Planners viz. fee only planners, commission only planners & fee and commission planners.


The financial planning process consists of six steps as below

  • Establishing the relation
  • Data Gathering and Goal setting
  • Identification of financial problems
  • Preparation of written alternatives and recommendations
  • Implementation of agreed recommendations
  • Review and revision of the plan

Various services covered under Financial Planning are, 

  • Investment planning : Planning, creating and managing capital accumulation to generate future capital and cash flows for reinvestment  and spending
  • Child Education and Marriage : Make necessary provision considering inflation for education fees and marriage expenses.
  • Retirement Planning : Planning to ensure financial independence at retirement.
  • Risk Management and Insurance Planning : Managing cover for Life Risk, medical expenses, householder and vehicle risks etc,
  • Cash flow and Liability Management : Maintaining and enhancing personal cash flows through debt management and lifestyle management.
  • Tax Planning : Planning for reduction of tax liabilities and freeing up of cash flows for other purpose.
  • Estate planning : Planning for intergenerational transfer of wealth and management of trust, writing of wills etc.

Here#39;s a fundamental view on the market from Motilal Oswal’s Gautam Sinha Roy Watch the interview of Gautam Sinha Roy of Motilal Oswal Mutual Fund with CNBC-TV18#39;s Anuj Singhal and Surabhi Upadhyay where he shared his readings and outlook on the market and specific stocks and sectors.
Fri, 21 Jul 2017 16:09:28 +0530


R Sukumar R Sukumar of Franklin Templeton Investments said that in this market, one could look for stock ideas which are undervalued.
Thu, 20 Jul 2017 10:47:31 +0530


Will see much better earnings growth in FY19-20: Ashwini Agarwal “Globally we are interested in large domestic markets. We have operations in Indonesia, Saudi Arabia and now we have launched a fund in India and we would like to do such kind of things in other countries. We are interested in local markets where operations are scalable,” Ashwini Agarwal, Co-Founder Partner of Ashmore Investment Management India LLP told CNBC-TV18.
Wed, 19 Jul 2017 19:00:02 +0530


Rajeev Thakkar Midcap IT companies that are in research, engineering services, digital space will benefit, said Rajeev Thakkar of PPFAS.
Wed, 19 Jul 2017 16:28:41 +0530


S Krishna Kumar S Krishna Kumar of Sundaram Mutual Fund said that the market could still see a positive bias but one needs to keep an eye on earnings trajectory.
Tue, 18 Jul 2017 11:42:49 +0530


Nilesh Shah In a CNBC-TV18 exclusive, Nilesh Shah of Kotak Mahindra AMC says that markets are not at an all-time high in terms of valuations. He also adds that there is froth in certain sections of the market.
Mon, 17 Jul 2017 08:23:35 +0530


Manish Sonthalia There is a correction which is overdue for this market and the sooner it comes the healthier it would be for the market, said Manish Sonthalia, Head Equities-PMS, Motilal Oswal AMC.
Fri, 14 Jul 2017 19:00:38 +0530


Video: Market view of UTI MF’s V Srivatsa Watch the interview of V Srivatsa, EVP Fund Manager at UTI MF with Prashant Nair and Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Thu, 13 Jul 2017 12:21:37 +0530


Market expecting a rate cut down the line: UTI MF Retail inflation has seen a sharp slowdown in June while May industrial output has come in at 1.7 percent. In an interview to CNBC-TV18, Amandeep Chopra, Group President and Head of Fixed Income at UTI MF assesses the impact on the bond market.
Thu, 13 Jul 2017 11:27:03 +0530


Why you should make a balanced mutual fund a part of your portfolio If the investor takes position in equity through balanced funds, they get to realise equity growth potential and lower fund volatility.
Thu, 13 Jul 2017 11:14:33 +0530


Market to be rangebound for 6-12 months; stay away from telecom: DSP BlackRock The fund house believes that a big upside in indices from this point is difficult, but does not expect any major correction due to good macros
Thu, 13 Jul 2017 10:44:16 +0530


Stable macros will continue to support Indian market: Axis MF Sluggish corporate earnings which have been a concern for the market could see a strong revival in the second half of FY18 that#39;s the expectation which Axis Mutual Fund is working with.
Tue, 11 Jul 2017 15:32:47 +0530


Q1 earnings to be lower on GST shock; auto, corp banks to be hit: Birla Sun Life AMC Mahesh Patil of Birla Sun Life AMC believes that a recovery could be seen in the coming quarters. On retail sentiment, he said that SIP flows are seen at around Rs 6,000 crore a month.
Tue, 11 Jul 2017 11:10:36 +0530


Here is how to switch MF investments from regular plan to direct plan We will explain not only how, but also why and when it is wise to switch your investments from regular plan to direct plan.
Mon, 10 Jul 2017 15:12:31 +0530


Renuka Ramnath RBL Bank is well poised to capture growth opportunities and has a great niche in the segment they are present in Renuka Ramnath, Founder CEO, Multiples Alternate AMC.
Fri, 07 Jul 2017 16:47:29 +0530

Video Box