Financial Planning

I intend sending my children to premium institutes for higher education…

Should I buy that house I am eyeing for a long time, or should I continue to stay in a rented house?

Inflation is rising, will I be able to maintain the same lifestyle, after retirement?

I am the sole earner of my family, if I were to face a job retrenchment; will my children’s future suffer? What if I am no longer there, or I am incapacitated and not able to work?

If any of these resonate with you, then you already understand the need for financial planning and just need a good professional to hold your hand and walk with you.

We at Financial Radiance are committed to the process of financial planning and believe that a good financial plan is an integral part of a happy life lived in a state of peace and being at ease with money. Financial Radiance walks with you in your journey to your Financial freedom.

 

Financial Planning

A financial plan is the shared responsibility of the advisor as well as the client. Both need to commit themselves to follow a discipline and ensure that they do not deviate from the commitments made for achieving the optimum results.
The purpose of financial planning is to provide the right amount of resources/money, at the right point of time, in the right hands. In other words, one who is financially free has the ability to 1. Do what he wants to do 2. When he wants to do it 3. The way he wants to do it.
A financial plan is not limited to achieving only goals; it also takes care of the risks that a client is exposed to, while on the path to his desired goal or goals.
If you are an employee, you live with the risk of losing your job? if you are an entrepreneur, there is a likelihood of your business going through a prolonged slump? What if the main bread winner of the family suffers an accident or is invalid for a long time or suffers loss of life? These are uncomfortable thoughts, but if such a thing were to happen, it would take a heavy toll on the dependents and the person himself. Interestingly, these risks can be mitigated with simple, common sense ideas and financial plans.
The founder of Financial Radiance is a Certified Financial Planner (CFP) by certification. Comprehensive financial planning is a process which helps in achieving client’s goals through proper allocation of various resources.

Financial Planning involves a 6-step process:

  1. Identifying needs & objectives
  2. Data Gathering & compilation
  3. Analysing information & developing plan
  4. Plan presentation
  5. Implementation of the plan
  6. Review & Monitoring the plan