Investment planning

Investment planning is the process of identifying your financial goals and devising a strategy to achieve them. It involves aligning your goals with your financial resources and risk profile to find the best investment products that suit you.

Investment planning doesn’t end with investing and also includes monitoring the investments at regular intervals. Simply put, an investment plan will help you achieve your financial goals by guiding you throughout your investment journey.

Importance of Investment Planning

Inculcates the habit of saving:
An investment plan will help inculcate the habit of saving. By helping you schedule your investment regularly, the investment will increase your financial discipline.

Offers financial security:
Having an investment plan provides financial security for the future. In case of any adverse events, you and your family have your investments to lean back on.

Increases financial awareness:
An investment plan increases your understanding of your current financial situation. It will help you evaluate your financial position and helps you find the best investment product that will suit your situation.

Helps maintain and improve the standard of living:
In times of an emergency, your investments can come in handy. For example, if you lose your job, you can use your investments to pay your bills until you find a new one. Even if there is no emergency, you can use the returns from your investments to fulfil your financial goals, such as buying a car or house.

Manages income and expenditure efficiently:
With an investment plan, you can manage your income and expenditure. For example, you can create a budget which will help in planning your expenditure and savings ahead of time.