Understand the basics of Financial Planning, need for financial planning and common mistakes made in financial planning.To know more or speak with a financial planner visit: www.karvyonline.com or call us on 18004198283.

1. Basics of Financial Planning

2. Most common dreams in life are buying a dream home, a car, children’s
education, retirement, world tour, etc.
To convert these dreams into reality one needs effective financial planning.
Financial planning helps:
• Define and prioritize financial goals
• Analyze sources of earnings & expenditures
• Provide a clear road map on how to achieve our financial goals
• Channelize investment across asset class to meet goal

3. Prioritize Goals
Realise Source of Income
Understand Investment
Avenues
Invest Across Various
Instruments
Ideal
approach to
Financial
Planning

4. Introduction to Financial Planning
An ideal approach to Financial Planning includes:
• Writing the goals
• Realizing the realistic source of incomes
• Exploring and understanding on various sources of investments and its
merits and demerits
• Plan investing across various investment options, keeping in view the
priority of goals
The key to successful investment is starting early, investing regularly and
giving investment time to grow.

5. Need for Financial Planning: A comprehensive financial plan covers
tax and retirement planning, children’s education & marriages,
emergencies, insurance, major purchases and other financial goals and
thus, enables better-informed financial decision making which result
into efficient use of money and has the following benefits:
Balanced
Inflow and
Outflow of
Cash
Financial
Stability
Profitability
Reduced
Financial
Uncertainty

6. Common mistakes made while approaching Financial Planning:
Not setting measurable goals
Confuse financial planning with investing
Make a financial decision without understanding its affect on
other financial issues
Wait until a money crisis to begin financial planning
Expect unrealistic returns on investments
Think that financial planning is the same as retirement planning
Think that financial planning is only for the wealthy

7. The best approach towards Financial Planning is consulting a Financial
Planner.
A Financial Planner takes one’s financial situation and goals in
consideration and helps figure out how to meet life goals.
Financial Planner devises and recommends customised financial plans.
Financial Plans recommended by Financial Planners ideally include
budgeting, saving, tax planning, investments, insurance and retirement
planning.

8. One is the focus of the financial planning process and to achieve the
best result from the financial planning, one needs to avoid common
mistakes and consider:
Setting Measurable Goals
Understanding The Effect Of Each Financial Decisions
Re-evaluating Financial Situation Periodically
Planning and implementing as early as possible
Have Realistic Expectations

9. Open an Account in 15 mins Visit: www.karvyonline.com
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