In simple terms it is the process of making advance preparation for financial needs, that may and will arise in the future.
It is just like planning your journey using Google Maps. You can not only choose the most comfortable route, you will also know in advance how long it will take to reach your destination and if there are any congestions on the way.
Like how Google Maps helps you reach your destination faster and with less hassles, Financial Planning helps you achieve your life goals faster and convenient.
What it does?
It enables you to plan for both predictable and unforeseen events of your life.
A predictable event is one which is more likely to happen at a particular time in the future.
For Eg: Planning for Children’s college fees, Property purchase.
Planning for such events is more convenient than preparing for unforeseen circumstances, as you will already know how much you need and when.
However, inflation can make things difficult, when planning for medium to long-term goals.
Click here to know more about planning for predictable events.
An unpredictable event is the one, which can occur at any time, or it may not occur at all.
For Eg: Job Loss, Critical Illness, Disability or Death.
Being prepared for such events is particularly vital as their impact can be overwhelming.
Click here to know more how you can prepare for unpredictable events.
To know more about personal financial planning, feel free to call me on +97150-2285405 or arrange a Free Consultation.