Financial Planning

What is Financial Planning?

Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you be in control of your income, expenses, and investments such that you can manage your money and achieve your goals.

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For example, if you want to build up a corpus of Rs. 10 lakh for your daughter’s college education through investments, you need to grow this amount by the time she turns 18. Not a year later. This is where financial planning becomes essential.

Wealth Creation

The rise in the price of everyday items means that if you want to maintain or increase your current standard of living in the future, you need to create a sufficient corpus of wealth.

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Retirement Planning

Your retirement may be 25 or 30 years in the future. But that does not mean you plan for it when you retire.

To enjoy a happy and comfortable retired life, you need to start building your safety net right now.

Child's Education

Education has become very expensive, not only in India but across the world. And in future, this cost is only going to rise. This is why it is necessary to start planning from the moment your child is born.

Saving Tax

Every year, you are probably paying a substantial amount as tax. But you can now lower your tax outgo legally. By planning your tax in advance you can identify the best avenues to invest your money and reduce your taxable income.

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Increase your savings

It may be possible to save money without having a financial plan. But it may not be the most efficient way to go about it.When you create a financial plan, you get a good deal of insight into your income and expenses.

Enjoy a better standard of living

With a solid financial plan, you would not need to compromise your lifestyle. It is possible to achieve your goals while living in relative comfort.

Understand your current financial situation

We help you determine the status of your current finances, viz., your income, expenses, debt, savings, and investments. This is the first step in financial planning.

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Write down your

financial goals

Ask yourself: ‘what are the different financial goals I wish to achieve in life?’ Write them on a piece of paper. Don’t hesitate to put down any goal because no goal is too small or too big.

Look at the different investment options

There are numerous investment options available to investors. In the mutual fund market alone, you can choose from nearly 2,000 schemes. LFS will provide you with the best advise on the basis of your profile.

Implement the right plan

We help you to select the right investment option based on factors such as your goals, age, risk appetite and investment amount. 

Monitor your financial plan regularly

The financial planning process does not end once you invest your money. You also need to monitor how the funds are performing regularly.