1. Disciplined way towards Wealth Creation
Financial Planning is about Safeguarding your family against Risks and paving way
for a peaceful retirement life. Nothing complex about this, everyone does these
planning during the course of life. However if we add a little discipline in terms of
adhering to the stated plan, it would help us achieve the goal with ease.
 RISK MANAGEMENT
 INVESTMENT PLANNING
 TAX & RETIREMENT PLANNING
 ESTATE PLANNING
Risk Management:
You need to guard your family against the unfortunate risks that you might meet
with. The 5 must have tools are;
Life Insurance (for a fairly large sum through Term Insurance)
Mediclaim to meet hospitalisation expenses
Personal Accident Policy
Vehicle Insurance Policy
House Holders Policy ( against Fire/Burgulary)
Investment Planning
You have 5 different assest classes where you can invest your money to accumulate
wealth to meet different future goals;
 Fixed Income / FD / Post Office
 Stock Market
 Gold
 Real Estate
 ART

2. Out of the above assest classes, Stock Market investment has given the highest
annualsied return of about 18% over a Long term Investment Period. One also need
to have a judicious mix of investments into the above assests.
Tax and Retirement Planning
Normally most of our investment are driven by the Tax planning that we do at the
end of the year. It would be much rewarding if we start looking at Tax planning
right from the day one of the financial year.
One also needs to figure out the amount of money that would be required to
maintained the standard of living after the active earning years ie the years after
Retirement.
Estate Planning
This is mostly a legal work, making a safe way to pass on your accumulated wealth
to your next generation.
I am into handling the first 3 areas for my clients. I have just written about the
concepts and one needs to go thro' each area with your current status.
You can start doing a "GAP ANALYSIS / NEED ANALYSIS" on the areas of
financial planning explained above.
If you feel a discussion could be of use in streamlining your FINANCIAL PLANNING,
do write to me.
Regards,
S.Saravanan
www.mywisemoney.com