Financial Planning

Have you done Financial

Planning ?

Story of Dr. Joshi(Name Changed on request)

Yes , I have done it.

My Father manages my

Finances.

I know everything.

“So Confident but

confused”

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Dr. Joshi , What are your goals in

life ?

Goals

• Very General and

Confused answer

• Polluted ideas not clear

thought

• All ignorant Goals

• No clear cut strategy on

how to build practice.

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We have done audit of Dr. Joshi’s Portfolio and we got some serious

mistakes which can directly hamper their goal

• Lack Of Clarity about Goals.

• Inadequate Insurance

• Majority Of Investment in Real Estate

• Too many loans

• No Clarity on Personal Finance and Practice Finance.

• No proper accounting and tax planning

Mistakes

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Risk of being casual

• Cash flow problem –Income

is coming one way and going

from other way - EMI, Taxes,

Expenses.

• What if something happens

to you???

• Have you created specific

plans so that your family

doesn’t suffer?

• Are you creating more assets

or liabilities?www.nirajnanal.com 5

• Why Insurance?

• Managing loss due to

medical emergency

• Not for tax saving and

returns

• Human life value

Risk Management &

Insurance Planning

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• Higher Life

Expectancy

• Lifestyle inflation

• Rising nuclear

families

• Rising medical cost

Retirement Planning

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• Identifying and Quantifying a

Goal

• Impact of Inflation

• Importance of Asset allocation

• Managing Risk

Investment Planning

Identify Quantify Plan

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• Proper Accounting

• Impact of fooling Taxman

• Weak Balance sheet

• Cash can not be investment

• Estate Planning

– Will

– Trust

Tax Planning & Estate Planning

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1. Select a Qualified Financial Advisor.

(Preferably a CFP,CWM)

1. Identify your Financial goals

2. Take a holistic View

3. Simplify your financial life!!!!

4. Manage your Emotions

5. Have a written Financial Plan

Action Plan

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• Timing is every thing when it

comes to implementation.

• Written action plan to Dr.

Joshi.

• Dr. Joshi has taken

responsibility of execution in

excitement and when we have

checked it after three month

they have not executed it

• Late in Execution Late in

Goals

• Support for execution to Dr.

Joshi to get his goals.

Support

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• Clarity About his Goals

in Life

• Direction about his

Future

• Confidence about his

Financial Health

• Dr. Joshi got peace of

mind because of

Execution Support.

What Dr. Joshi got ?

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