Why Financial Planning?
Financial Planning needs to be done because of its following advantages:
- A) Manages of the decay of purchasing power due to inflation.
- B) Helps in achieving pre-determined long-term and short-term goals.
- C) Preserves of capital.
- D) Maintains parity between risk and reward, i.e. proper asset allocation.
- E) Manages finances in a tax-efficient manner.
- F) Provides peace of mind.