Financial planning means taking a comprehensive look at the financial situation and making up a specific financial plan to reach the goals. Thus, the area of financial planning is quite vast. It often delves into several areas of finance, such as investing, managing taxes, savings, retirement, etc. Financial planning starts with the practice of putting together a plan, specifically regarding how you will manage finances and prepare yourself for all potential costs and issues which may arise. This process includes evaluating the current financial situation, setting out goals and then developing and executing relevant recommendations.
It is of utmost importance to frame a financial plan for choosing investments in line with the income, risk capacity, and goals. This should help you maintain balanced investment portfolio. A sound financial plan also helps in managing and accessing tax obligations at the start of a financial year. So, a financial plan can help in managing the finances in such a manner that individuals end up paying the least amount in taxes legally.
If you are being survived by children or other dependents who plan to pursue higher education, a financial planner can help you figure out necessary steps which can enable you to pay for their education.
Retirement planning focuses on your life after retirement. Finance professionals help in preparing a retirement plan which focuses on maintaining the current lifestyle of yours. They also factor in inflation and suggest certain investment options which can help you beat inflation.
Finance professionals help clients in addressing some common tax issues. They can help in figuring out how you can get higher tax refunds and reduce your tax liability.
Estate planning focuses on making life easier for your loved ones after you die. For example, preparation of will can be a part of the financial planner’s services. Estate planning can also help in figuring out any estate tax you might be subject to.
VSRK Capital has a basket of products suitable to the needs of an individual. We can work on customised plans which shall ensure long-term growth and capital appreciation. Our products include: Mutual funds, life insurance, general insurance, corporate deposits, PMS services, structured products, alternate investment funds and Pre-IPO or unlisted shares.
VSRK Capital can help in framing an investment strategy by using combination of various financial products which should help you achieve your goals (both long-term and short-term).
VSRK Capital can assist you in choosing an appropriate insurance plan according to your financial well-being. Including an insurance plan is also a part of financial planning. While for some individuals unit-linked insurance plans are beneficial, some prefer to separate insurance and investments. VSRK Capital can suggest you in making necessary choices.