The best military strategies win because they were pre-planned. No General can maintain a winning record by impulsively taking decisions that could have a long-term impact. The same analogy applies to any sport you practice, and any human achievement that you admire. Planning is necessary for long-term success. And you can define the success of your life with Financial Planning.

But before you plan, you must have a good idea of the current scenario as well as your long-term objectives. Therefore, the first step to attaining your life’s goals is Financial Assessment, which is, How much of your income needs to go into fixed expenditures as well as variable ones, resulting in how much money you can actually save. Once you have these figures, you move on to Financial Planning.

Briefly, there are a lot of financial products that you can invest in. But you must choose only those that deliver your long-term financial goals, such as a vehicle, a home, old-age security and so on. Approach a financial services company, who have experienced professionals to assist you in selecting the right plan for your life.

Once you have figured out the plan --- how much of your savings go into insurance, mutual funds, pension plans and so on --  you can be worry-free for the rest of your life. Not only is your present covered, your future is secure too. Whatever happens next won’t bother you, because it’s all covered under your plan. Get ready to savour your successes, one after another!

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If you want insurance go to an insurance provider, for mutual funds go to a mutual fund house, for stock markets go to a stock broker. Then there are loans. Too many offices and hassle, isn’t it?

Now what if we told you there is a one-stop shop for all your financial needs? It is true, and the best part is, it is cheaper in the long run to work with a financial services company than all the agencies mentioned earlier.

What do they offer?

• Insurance: They can offer products from a wide variety of insurers, both in life and general insurance categories.

• Mutual funds: You will be suggested the best mutual funds suited specifically to your financial requirements.

• Stock broking: You can operate your trading and demat accounts and get related services from a single point.

• Portfolio management: Let professionals decide where best to invest your capital across different asset classes.

• Loan management: You don’t need to meet different lenders for the best loan. Through the loan providers associated with them they offer what you need- student loan,    housing loan, vehicle loan, personal loan etc.

• Debt servicing: You are guided on how to allocate regular payments to service your debt and track your credit score.

• Investment Advisory: If you’d like to be actively involved with your finances but need expert opinion, they guide you.

All the financial services under one roof provided by professionals- get rich easy.

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If you are the scion of an Arab Sheikh, you won’t be reading this. But you are not. Which means that you don’t have a seemingly endless supply of money to your bank account. Therefore, you must be very careful with what you do with that money.

Spend it on a holiday, sure. Buy luxury items, why not?

And what happens to your medical bills? What about your retirement?

Well, now that you’ve come back to earth, how should you be investing in your future needs?

First off, you need to approach a Financial Services Company. There, you will be financially assessed, based on your income potential and likely expenses. Once you visit a Financial Services Company, nearly all your financial needs and goals will be met; they do offer those many options.

In broad headings, this is what you get under the umbrella of Financial Services in India:

● Investment Advisory --  They do the thinking about what is the best investment for you
● Insurance -- Life or general insurance, pick from offerings of multiple insurers
● Mutual funds -- High-returns or safe investments, you get to choose the mutual fund that suits your style

Apart from these, you can also trade in the stock markets, have your entire investment portfolio managed, finance your loans or service your debt. Just a small fee and your money woes are forgotten. Not a Sheikh, but you’ll be rich enough, soon.

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There are two kinds of people in this world: Those who have dreams, and those who have goals. Dreams seldom come true. Goals, if properly planned for, are always attainable. You are working not just for your present welfare, but to secure your future too. If you do not measure your expenditure and savings today, you will be forced to live an austere life in old age. So, be sensible in how much you save and how you invest.

But is there a method to calculate the necessary savings and find the best investments? Yes, there is. It’s called Financial Assessment.

Financial Assessment in India is carried out by Financial Services companies, mostly. But, any qualified finance professional can easily chart up your financial history, your future goals and give you the options of financial decisions that you need to make.

Technically speaking, what financial assessment entails is:

• Cash Flow Management: Managing your cash requirements for your fixed and variable expenses in such a way that you   save regularly.

• Investment Analysis: Discovering the investment avenues which maximize your returns while minimizing tax outgo.

• Future Planning: Your savings, investments and expenditures shall be rationalized according to your future goals - house, vehicle, retirement plans etc.

Remember the story of the grasshopper that did not plan for winters, making merry in summers while the ant toiled? Be the ant. You’ll be happier in old age. Get a financial assessment done.

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