“a Comparative Study of Personal Financial Planning Awareness and Its Degree of Implementation Among Age Groups.”
Abstract
Financial planning may mean different things to different people. For one person, it may mean planning investments to provide security during retirement. For another, it may mean planning savings and investments to provide money for a dependent's college education. Financial planning may even mean making career-related decisions or choosing the right insurance products. In reality Financial Planning is the process of meeting financial goals through the proper management of finances.
It is generally seen that people have a misconception that financial planning is about saving more and spending less but that is not the case, it is more about saving the right amount so that future goals can be met.
The objective of financial planning is * To ensure that the right amount of money is available in right hands at right point of time in the future to achieve the desired goals and objectives. It * Provides direction and meaning to your financial decisions. * It allows you to understand how each financial decision you make affects other areas of your finances. * Financial planning and investments can be undertaken by anyone with a clear assessment of one's inflow of funds and the goals that need to be achieved from time to time.
Keywords:
Financial planning, wealth management, investment instruments, real estate
Introduction
Financial planning is achieving your financial goals in the most efficient manner. The broad areas of financial planning include - | | | 1.2. | Investment planning -Your wealth will only grow over time if you have invested it in assets. Investment planning deals with the kind of investments an individual should invest in to get the best out of his wealth. In this the risk and return profiling of an individual is done based on his life stage, spending requirements with respect to his income and wealth, time horizon and liquidity requirements and various individual specific constraints. Investment Planning is
Financial planning may mean different things to different people. For one person, it may mean planning investments to provide security during retirement. For another, it may mean planning savings and investments to provide money for a dependent's college education. Financial planning may even mean making career-related decisions or choosing the right insurance products. In reality Financial Planning is the process of meeting financial goals through the proper management of finances.
It is generally seen that people have a misconception that financial planning is about saving more and spending less but that is not the case, it is more about saving the right amount so that future goals can be met.
The objective of financial planning is * To ensure that the right amount of money is available in right hands at right point of time in the future to achieve the desired goals and objectives. It * Provides direction and meaning to your financial decisions. * It allows you to understand how each financial decision you make affects other areas of your finances. * Financial planning and investments can be undertaken by anyone with a clear assessment of one's inflow of funds and the goals that need to be achieved from time to time.
Keywords:
Financial planning, wealth management, investment instruments, real estate
Introduction
Financial planning is achieving your financial goals in the most efficient manner. The broad areas of financial planning include - | | | 1.2. | Investment planning -Your wealth will only grow over time if you have invested it in assets. Investment planning deals with the kind of investments an individual should invest in to get the best out of his wealth. In this the risk and return profiling of an individual is done based on his life stage, spending requirements with respect to his income and wealth, time horizon and liquidity requirements and various individual specific constraints. Investment Planning is