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Plot no. 129/1 Industrial Estate Phase 1, Chandigarh


  • Nitika Sharma

What is Financial Planning?

Financial Planning is estimating your future funds required in order to fulfill your goals. It involves earning, saving, spending & investing. The process generally involves evaluating your current financial situation, identifying your goals and then developing and implementing relevant steps.


Financial planning is holistic and broad, it encompasses a varied number of services. Financial planning is a broader term than asset management. Asset management solely involves managing investments for a client. It includes choosing appropriate mutual funds, stocks, bonds and other investments.


Financial planning has a number of objectives to look forward to: 

  • Tax Planning: Helps clients address certain tax issues. Tax Planning helps you figure out how to maximize your tax refunds and minimize your tax liability.


  • Estate Planning: Estate planning seeks to make things a bit easier for your loved ones after you.

  • Retirement planning: You presumably want to stop working someday. Retirement planning helps you prepare for that day. They ensure that you’ve saved enough money to live the lifestyle you want after retirement.

  • Education Funding Planning: If you have children or anybody who is dependent on you, you would want to have a plan for their future studies. Maybe your children would want to go abroad for studies, maybe they would want to do a good certification course that is also expensive. You need to have a good future planning for any upcoming scenario and be prepared for it beforehand. 

  • Contingency Planning: Financial contingency planning means planning ahead to manage the risks arising from events like natural disasters, pandemics or issues that cause changes in your circumstances.

  • Investment Planning: You need to have a one stop solution for all your investment needs related to investments. Investment Planning helps with your investment portfolio by mapping out how much you should be investing and in which types of investments.


It is very important to put together a financial plan for you and your family. It highlights the overall steps you’ll have to take in order to achieve the goals set by you.


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