Financial planning

Financial Management       

Financial planning is the process of defining our financial goals, such as knowing when we will need to use our money, what for it will be used and then laying out a plan of action with specific steps we need to take to achieve those goals.

A financial planner is a professional who helps us to organize our finances, projects the results of our savings and investments so that we can see how well we are prepared for retirement.

A financial planner helps us make decisions with our money that will help to reach our financial goals as efficiently as possible. An experienced financial planner can usually help to improve the quality of the financial decisions we make.

They  gather our personal and financial data and use this data to create projections that show when and how we can accomplish our goals. These projections are based on a set of realistic assumptions about inflation, investment returns, how much can be saved, and how much can be earned and can be spent.

Financial planners can also help client remain disciplined about their financial strategies. They should be promising good advice across a range of issues, not just investments.

A good financial planner genuinely cares about being able to give you the best advice possible.

A good financial planner makes the recommendations that we need based on our specific goals and situation, without regard for any other factors.

Financial planners advise clients on how best to save, invest, and grow their money without making loss.

Aiyan Thiruvalluvar says 

வாரி பெருக்கி வளம்படுத்து உற்றவை

ஆராய்வான் செய்க வினை. (512)

आय-वृद्धि-साधन बढ़ा, धन-वर्द्धक कर कार्य ।
विघ्न परख जो टालता, वही करे नृप-कार्य ॥ (५१२)

Explanation by Scholars 

Let him do the work who can enlarge the sources (of revenue), increase wealth and considerately prevent the losses.

வருமானம் வரக்கூடிய வழிகளை விரிவாக்கி, வளங்களையும் பெருக்கி,  இடையூறுகளையும் ஆராய்ந்து நீக்கிட வல்லவனே செயலாற்றும் திறனுடையவன்.