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Review on Review Financial Plans IndianmoneyFinancial planning is a process of meeting financial goals through proper money management. Financial goals could be short term like going on a vacation, mid-term like buying a car or long term like retirement or buying a house. Financial planning helps achieve strategic goals and objectives.
Take a look at financial planning thumb rules. One of the first rules of financial planning is Pay Yourself First. Save a part of monthly income before spending. As income rises make sure to save more. Follow the 50-20-30 rule. About 50% of your income should go for living expenses, 20% for savings for medium/long term goals and 30% for spending like travel and vacation.
Want to know more on financial planning? We at IndianMoney Review will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
What to consider in financial review?
1. IndianMoney.com Reviews advises you to update financial advisor on life changes: Your financial advisor must know your important milestones to make the right financial decision. If you are newly married, this calls for a financial plan review. Your financial advisor will draw up a new plan or reform the current financial plan.
2. IndianMoney.com advises you to check your investments: Check if investments are giving returns in line with the financial plan. If investments are not performing up to standard, then decide where to allocate the money. Asset allocation is very important in a financial plan.
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Created on Nov 16th 2018 02:04. Viewed 199 times.
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