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Goal Based Planning

A good plan makes the actual task completion a better and easy job if it has been done right. We all can agree that goal based planning is not something which can be achieved academically and one needs to be really organized and determined to do so. Goal based planning helps you determine different aspects and difficulties which you might encounter on the way. If you know how to invest your money, ithe risks involved in it, and necessary measures you may need, then obviously the outcome will be as per your desires. On the other hand if you blindly follow a person or an organization without meticulously planning about it, then chances are you might be at loss. Thus, goal based planning not only help you get a better outcome of your work but also makes the whole process enjoyable.

Investing money requires a lot of goal-based planning, but people generally do not want to take it up until the actual time passes. But, for those who do and align it with specific goals – like at certain age you decide to retire or at certain age you decide to buy a house – this planning surely helps you to stand against those who do not give much importance to it. Perhaps just as importantly, goals-based planning allows you to look past the distractions of short-term economic woes and keep your focus mostly on those goals you are hoping to achieve 10, 20 or even 30 years down the road. So get in touch with our financial advisor today and let him know all the aspects & desires. He will carefully investigate and observe your financial terms and then help you decide on the goals accordingly.

How goals based planning works:

Generally, the large corporate financial firms which provide help in planning your future will focus on a few major goals like owning a house, buying your favorite car or getting your life insured. But, in reality, goal-based planning is way more than just your future home or car. It is looking at the small details your expectations. Our financial managers help you exactly in deciding your goals and how you can achieve them. Our main focus in goal based planning is to determine what you have today and how can you, with little effort and planning, achieve something more tomorrow, even if it sounds vague presently.

it can be a difficult challenge to work from a blank piece of paper and write those first few sentences of your financial planning story. Questions which include – “What are some of the essential economic goals you wish to gain?” or “How do you envision your retirement lifestyle?” would possibly initially be daunting. But through asking more personal questions and by cautiously being attentive, you can make a good plan. A purpose after retiring or touring the world post retirement is merely a starting point. Meaningful planning probes deeper into detailed aspects such as places you wish to tour, how many journeys you would like to take each year, and who could be journeying with you.

After you decide on all the greater tangible underlying desires, it will become a lot simpler to then assist you and prioritize which ones are your vital needs, which can be essential needs, and what are aspirational needs. The goals-based planning technique carefully evaluates all the diverse (and occasionally competing) desires you could have.

Better knowledge of your needs help you devise better plans:

Goal-based planning is not about randomly deciding to get something out of your league and screw up the other possibilities — they are called midlife crisis. A good goal-based plan is to determine what you have, what you may incur in future at best and then devising your plan with the help of an expert to get the desired output when the time arrives. So it is absolutely necessary to make sure you and your advisor are very clear about your different aspirations. The more accurate the analysis is the better the planning will be. This plan will help you decide on which projects you need to save more financially. Depending on the funding needs of different plans and their priority, you can make amendments to your planning when necessary:

  • You may decide to increase your current savings rate if the plans are grand;
  • You may also decide upon scaling down the scope or magnitude of one or more goals;
  • You could change your investment portfolio allocation to reflect a higher rate of return (along with a higher degree of risk) to provide a greater likelihood of success; or
  • Perhaps you have other assets that you wish to sell to fund currently unattainable goals.

Most of the firms lose the ability to look into the future and help their clients get the best possible outcome on their current financial condition. Thus, set your goals and start working on them, so that we can help you answer these questions,. What you could do? What you should do? What is the priority of the task you want to do? These questions will always help you determine the right choice and our services will be an added bonus.

Disclaimer: We are a financial distribution company and have tied up SEBI Registered Investment Advisors for Financial Planning services.