Financial Planning through Mutual funds | Khasnis Prime Wealth
Rahul Khasnis Financial outlining has taken the front seats in everyone’s life in recent years. Let us take a deeper look into what financial outlining is in-depth, why it is important, and how one can execute it.
What is Financial Outlining?
One can achieve the individual goals and vision with a step-by-step approach known as Financial Outlining. Financial Outlining in general terms helps you to manage your income, expenses, and investments such that you are capable enough to achieve your desired financial goals.
The one thing that connects the above statement is Money. To efficiently manage and achieve the goals you need adequate money at the right time of your life. This is why Financial outlining is essential.
How to execute?
Financial Outlining involves a number of steps that help one achieve desired goals at the right point of life based on the individual financial capabilities. This systematic approach can be understood well with a financial outlining pyramid.
Steps For Achieving Financial Outlining as Per Planning Pyramid
- Personal Accident Cover – Life is uncertain and accidents are unavoidable. So, to prepare for such unprecedented times a personal Accident Cover goes a long way. If we meet with an accident this policy will protect you from redeeming your investments
- Mediclaim/ Health Insurance- Health is wealth and hence one cannot take it lightly. A good health insurance plan can provide financial assistance in case of any major health issues.
- Term Life Insurance (Life Insurance) – While you work hard to secure your and your loved one’s future, sometimes things are not within control. A well-researched life insurance plan can cover you even in your absence.
- Growth plans- After taking care of the negative possibilities of life, growth and wealth creation come next. There are a number of strategic investments one can make based on personal preferences to create wealth and grow financially.
- Emergency funds – Many times we face uncalculated risks such as health problems, natural disasters, accidents, etc leading to a financial crunch. This is when emergency funds come to the rescue.
- Pension Planning- With increasing age comes to a responsibility of a sound lifestyle after retirement. Pension planning at an early age with strategic investments can help you to live a peaceful retired life.
- Will Planning- Your wealth deserves to be treated the right way. Let the next generation enjoy the fruit of your hard work with thoughtful will planning.
All of these steps when followed religiously can help one attain financial freedom and a better lifestyle.
The process and how do we help you in it?
The financial outlining process involves a number of steps. Let us understand them briefly.
- Review the client’s situation
- Establish and define the relationship with the client.
- Collect the client’s information.
- Analyze and assess the client’s financial status
- Develop recommendations and present them to the client.
- Implement the client’s financial plan recommendation
At Khasnis Prime Wealth we mindfully indulge in the comprehensive financial outlining process of each of our clients.
Financial outlining through mutual fund investments
After having a complete understanding of the financial outlining process and how to achieve financial freedom, we need to have a clear picture of the instruments available for the same. There are a number of instruments like debt, equity, or even gold in which one can invest and grow substantially.
One of the popular instruments is Mutual fund investment. Due to the flexibility and diversification that it offers, it has gained quick popularity among Young professionals. At Khasnis Prime Wealth, we analyze your financial capabilities and vision to recommend the best mutual fund investments that align with your financial goals at every phase of your life. Be it your dream property, child education, marriage, or retirement. We strategize the investments as per your preferences and goals.
