Plan to accomplish

Any kind of financial planning exercise essentially begins and ends with the user. It is a systematic process of identifying and recommending various investments avenues which will help realize his / her goals.

All of us work for money. But how many of us make money work for us? Making money work for us is perhaps one of the most important pillars of the personal financial planning process. Actually, making money work for you is not that hard task, provided sound financial and investment advice is taken. A blend of the different investment avenues can actually provide the right investment mix which can play an important role in providing a suitable financial buffer for later years. However, there can be no tailor made approach to get this benefit. The so called investment mix will differ from person to person and is actually function of a number of variables like income levels, marital status, investment outlook, levels of expenses, standard of living etc. Hence, it is very difficult to evolve a standard doctrine to effective financial and investment planning. At the most, a few standard gospels may be given.

To put the process of financial planning into the right perspective, we will have discussion on the same in later posts following with the help of a case. This case will highlight yet another dimension to the personal financial planning process.

The Case Study follows here. 

Double your income - Advice on how to double your income.