Financial planning is a holistic process for reaching financial goals of an individual.It can be done by proper management of personal finance.Personal finance include all type of personal savings, investments and loans. Normally,people start to save with bank accounts,chit funds or post office schemes.Investments means putting money in shares,mutual funds,real estate or commodities such as gold.Financial goals are very important in financial planning.These are life needs such as buying a home or property, savings for children’s education and marriage, wealth creation , retirement planning etc. Professional Financial planning process consists of six major steps. 1.Collecting client's financial data about income,expense and netwoth . 2.Setting financial goals to fulfill ambitions. 3.Analysing current financial condition. 4.Creation of strategy to meet life goals. 5.Recomm...
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