This document discusses financial planning for individuals. It defines financial planning as thinking about future expenses and organizing investments to achieve goals and meet expenses. Financial planning ensures timely funds for expenses, optimum utilization of funds, and maximum returns from investments considering risk. The document outlines components of financial planning like investment, tax, education, insurance, estate, and retirement planning. It also discusses factors to consider like age, risk tolerance, income, goals and instruments like deposits, funds, equities, insurance and mutual funds for financial planning.

1. FINANCIAL PLANNING FOR
INDIVIDUALS
By-
Asish Patra

2. WHAT IS?
 Planning is the process of thinking about and organizing
the activities required to achieve a desired goal.
 Financial planning is thinking about the future expenses
and organising the investments to achieve that desired
goal and meet the expense.
 It is about where to invest keeping in mind the risk-taking
ability.

3. WHY?
 To ensure timely availability of funds for different
expenses.
 To ensure optimum utilization of funds.
 To get maximum possible return from the investments,
keeping in mind the risk factor.
 To convert dream into reality.

4. HOW?
1. Protect.
2. Plan
3. Prioritize Goals
4. Pass along Assets
Source – www.herlongganddoran.com

5. Components
 Investment planning.
 Income tax planning.
 Vacation planning.
 Maternity planning.
 Children Education planning.
 Insurance planning and risk management.
 Estate planning.
 Retirement planning.

6. Factors to Consider
 Age Factor.
 Risk-taking ability Factor
 Income quantity Factor.
 Income source Factor.
 Spending Patterns.
 Financial Goal Factor.

7. Instruments
 Fixed/Recurring Deposits.
 Bonds (Company/Government).
 Employee/Public Provident Fund.
 New Pension Scheme/ other Pension Plans.
 Equities/Commodities.
 Insurance(Life/General).
 Mutual Fund.
 Systematic Investment Plans.
 Derivatives (Stock/Currency).
 Reverse Mortgage.

8. Financial Planning Requirement
For Business Class For Salaried Class
 Contingent Future Profitability.
 Securing Resources of Income.
 Future expansion of Business.
 Securing present estate.
 Life Cover.
 Personal/Family Health concern.
 Children Education.
 Buying ofAssets.
 HolidayTrip.
 Children’s Marriage.
 SavingTax.
 Retirement/After quitting
Business.
 Contingent Employment (If
Private employee).
 Securing present estate.
 Tackle Inflation.
 Life Cover.
 Personal/Family Health concern.
 Children Education.
 Buying ofAssets.
 HolidayTrip.
 Children’s Marriage.
 SavingTax.
 Retirement.

9. ThankYou