Financial Planning

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Goal-Based Financial Planning, as the name suggests is a process wherein your goals are assessed,  your existing investments are linked and a plan established to bridge the shortfall. When this plan is connected to your risk appetite, it provides a customized solution that is unique.

At its simplest it is a map to reach your goals.  Everyone wants to make and have more money but money is not the goal.  Money is a tool that enables you to reach your life goals.

Do you want to retire early so you can travel? Are you consumed with credit cards and want to live debt-free?  Do you want to ensure your children’s education is taken care of? These are life goals that require a financial plan to reach them.

Banconus’ Financial Planning Process:

Financial Plan Queries

A financial plan is a comprehensive picture of your current finances, your financial goals and any strategies you've set to achieve those goals. Think of it as a roadmap showing you how to build the financial freedom that you desire for yourself and your family. All you need to know is where you are today, and where you want to be tomorrow. The financial plan just connects the two.

A good financial plan has 5 key components - Your current net worth, Your Income and Expenses, Your Goals, Your Risk mitigation and Your Asset Allocation.

Asset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance, and investment horizon.

You work hard throughout your life building assets. And you do this to ensure financial safety and security of your loved ones. Estate planning simply refers to passing down your assets from one generation to another and it should be done by everyone.

Key Components of a Financial Plan

Lets see how we go about from where you are today to where you want to be tomorrow.

Just like a holiday plan starts with a destination in mind, a financial plan starts with the Goal. Uncovering of this may include a range of topics from life goals to feelings about risks to dreams about retiring. Goals are unique just like the individual and they include children education to travel to buying a retirement home to health. What are your life goals?

Data gathering includes understanding time horizon, risk and your current state of affairs. Many a time, clients don't have an overview of all their assets in one place. It is also important to understand who has access to this data.

The goals are clear as are the key assets, risks and timelines. As your Navigators, we devise a customized solution to meet your goals, that continues to evolve with your needs but remain within your capabilities and risk. We also implement the plan and monitor it regularly; after all when life isn't static how can plans be.