Personal financial planning is imperative for everyone, be it an individual or an industrial house. The basic principles of finance are applied to decisions which cover future risks and investments. It can be defined as a way for investors to chart, prepare for and enjoy the series of life events they are likely to encounter.
Why should financial planning be done professionally?
- It is no longer a simple task with simple implications. Financial planning involves complete and complicated procedures.
- It plays a major role in defining your goals, objectives and priorities. It also makes qualitative and quantitative decisions about your money.
- They analyze the various sources of income and means of investment besides designing a plan to meet your short term and long-term goals.
- It provides you with meaningful savings and investment plans, retirement planning, tax management and estate & insurance planning.
At PK Chopra we tell you how to deal with your personal financial plans by concentrating on three steps:
- Assess A specialist and a professional is definitely needed for this task as he compares your income and expenditure till date, prepares a personal cash flow statement and also compiles a balance sheet.
- Decide We help you to decide your goals and objectives that would yield maximum profit and involve reasonable investment.
- Plan waysIt includes increasing income through wise investments and reducing unnecessary expenses. Assistance from investment advisors, financial planners, lawyers and accountants is given.