Why do Financial Planning and who need it?

Many people think that financial planning is only for a small number of very wealthy families.

Lets see why planning is needed and how is helps.

I believe all of us agree that any resource which is available in limited quantity and we have to maintain a balance in supply and demand, planning come into play, be it money, water, space, health, life, relationship, etc.

If you want to accomplish some thing with limited resource, within a limited time period and the cost of failure is huge, again we planning can be of great help, like we do for our annual exams, job interviews, etc.

If you want to prevent any undesirable outcome, where there is a probability of facing some, planning helps like, vacation, travel, house building, etc.

Planning is the best way to prepare for future,

Planning makes any journey, smooth and worth enjoying,

Planning identifies problems and points the way to solutions,

Planning help in prioritizing, thereby helping us to do first thing first,

Planning helps in coordination of parts, in working for a single goal,

Planning helps in educating and helping people in understand the benefits,

Planning helps in smooth transition from one phase to other.

Now personal finance is a subject most of us care for but most of us fail to plan.

I hope all of us will agree, that if we work hard 8-10 hours a day and 5-6 days a week to earn money; it does make sense if we sit down for at least 3 hour a month or 3 hours every 3 month to take stock of what comes in and where it goes.

Try to make it a regular activity to sit with your financial planner regularly and talk about your dreams, goals, plans and concerns.

You will see a lot of clarity coming to as many issues that had been bothering you for so long.

Your knowledge about the complexities of financial world will increase and so will be your confidence of attaining most of the goals in your life.

A written Comprehensive financial plan is a document which will take out the uncertainty factor and bring in confidence with respect to understanding the priority of your goals and achievability in terms of time value of money.

Most of us will find that our current resources and their allocation are not matching with our needs and goals.

Financial planning can be very helpful in understanding our net worth and under-performing assets.

Financial planning can point to the gap and suggest re-balance assets allocation to align it with your needs and goals.

Financial planning is an efficient tool in optimizing the return of your portfolio.

Financial planning will also give you a reference point to regularly monitor the progress of your portfolio with the desired outcome.

To put it more simply financial planning concerns all of us and the more time we give to understand it the more our life will become easy.

So contact a certified financial planner today make him your best friend and spend some time with him, all married people should include their spouse in financial planning sessions.

We at Neoledge Planners LP are committed to the cause of Financial Freedom for our clients with the help of Financial Planning as a tool.