Goal Based Financial Planning

If you would like to plan for a single goal only we can help you plan for it. We can create customized plans for you for the following goals –

Retirement Plan

“I’m not retiring from life, just a job”
Retirement-Planning

While retirement may seem like something which is in the distant future to many, it is never too early to plan for retirement. Needless to say the earlier you start the easier it is. The retirement plan for our previous generation was us – their children. They were secure and assured of being taken care of. With changing family dynamics the same does not hold true for us, as even if we want our children to be our support during our golden years, they may not be in position to support us. Given this, it is important that we have a plan to be self-sufficient in our sunset years, to make sure they are also our golden years. With increasing life spans it is quite possible you may end up living nearly one third of your life post retirement. How do you intend to fund this? Planning for such a period would not only involve planning for your finances it would be equally important to plan for ways to keep yourself occupied. At Finwise we work with you closely to understand how you plan to spend your retirement days and design your investment plan accordingly. As part of creating this plan, it is important to factor for the ever increasing inflation and for astronomical medical expenses which seems to be climbing at much higher rate than inflation. Failing to plan accurately and adequately may leave many of us in a lurch just when we expect to live the life we have always dreamt of.

To create a Retirement Plan for you, click here.

Insurance – Life and Health

Insurance-Planning & Contingency-Funds“It’s very easy for trusted companies, to mislead naive customers and life insurance companies are trusted” – Daniel Kahneman

“Life is what happens to you when you are busy making alternate plans”. No matter how well we plan there are a few events which are beyond our control like loss of job, ill health, accident, loss to physical property due to unforeseen circumstances and the biggest of them all is loss of life. We at Finwise will help you identify areas of potential concern and develop a plan to reduce the risk of financial loss as part of insurance planning. We help you understand the exact amount of life cover required and the best options possible so that you are neither over insured nor under insured. There are hundreds of policies some with very misleading names, most of us don’t take the time to read the fine print before signing the dotted line. As a result there is a huge mismatch between our expectations from the product and what it delivers. We help you choose products specific to your requirements from a wide plethora of choices available in the market.

To create an Insurance Plan for you, click here.

Investment planning

Investment-Planning“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen

Most of us approach investment planning in a very adhoc way. While most of us do set aside a part of our income towards savings we do not spend time to understand the suitability of the product for us in terms of risk and time horizon. Further we do not have the investment mapped to our goals or an asset allocation plan. Given this, needless to say we rarely review our investments, leave alone rebalance them. At Finwise we understand your goals, your preference for different asset classes, risk tolerance, time horizon and chalk out a plan to help you achieve the goals. We stick to asset allocations mutually decided while making the plan and review and rebalance the same annually. This brings in a lot of discipline to our finances and gives clarity as to how you are progressing.

We help you plan for specific goals like
  • Your children’s higher education or marriage
  • Buying a second house
  • Buying the bigger car
  • Vaccation

The cost for goal based planning will Rs. 5000 per plan. The process followed would be

  • Understanding your goal and ascertaining the corpus required to achieve the goal
  • Arriving at the investment approach to achieve this goal within the required time frame and
  • Recommending product-based solutions for the same.

This will be a plan-based engagement and will end once the plan is handed over to you. While it is not compulsory to implement the plan through us, we can help you implement the plan if desired. To reach us for goal based planning click here.