Welcome to TrueFinPlan
The need for financial plan is all the more very important in the turbulent economic times of today. If you don’t have one till now, don’t delay any more and Get it Now. Unless you develop a financial plan early, it will be too late. You may have several different financial goals you wish to achieve but to reach them at the right point in life; you need to have a financial plan in place at a very young age.
For more details, please contact query@truefinplan.in. Reach out to us for preparing detailed Personal Financial Plan.
About Us
TrueFinPlan is started by Gaurav Singhal who has 20+ years’ experience in Finance domain (while working in IT industry) with the sole purpose of reducing mis-selling of financial products and spread awareness on financial planning benefits & importance. He has done post graduate diploma in financial advisor from IIFB, India.
TrueFinPlan is a team of financial advisors who provide unbiased knowledge & guidance to busy working professionals, and business man to manage their financial goals. This results in securing the mid-term & long-term goals like retirement and child higher education.
TrueFinPlan has experienced Chartered Accountants (CA) Mr Mahaveer Jain. CA. Mahaveer Jain have vast experience in the area of Taxing, Bank audit, Due Diligence of Advances, TDS and GST.
TrueFinPlan has other experienced team members from mutual fund, insurance, and banking industry.
What is Financial Plan?
A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, children education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.
Start by working out your goals in life, in the short, medium and long term. Prioritise them, and think about the likely cost of those goals and when you will need the money, so you can start to plan your finances to work out how to achieve them. Don’t forget you also have to plan for some of the hurdles you may have to overcome too. It’s about getting organised; being in control of your finances rather than letting your finances control you.
Financial Planning covers all aspect of Financial Planning.
Such as Children's education, children's marriage, vacation, buying a home or car, etc.
What should be your retirement corpus to lead a happy retired life.
What's your human life value? What should be your cover? Which is the best one for you?
Funds for unplanned expenditures.
Proper tax planning will help you save tax, leaving more money in your hand.
Repay bad loans and take better control of your finances.
Investing in best suited invests to achieve your goals confidently.
Our wealth advisor are committed to guiding you in every step of your journey towards financial prosperity
Do you need financial plan?
Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepare for it. An effective financial plan will make sure that you are financially prepaBAD to deal with the unexpected events and stormy times.
If you don’t have one, you are more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met.
A good financial plan can alert you to changes that must be made to make sure a smooth transition through life financial phases, such as decreasing spending or changing asset allocation.
By developing a financial plan you and your family
- Will have a better understanding of your current financial position.
- Determine attainable retirement, education, insurance, and other financial goals.
- Review goals, funding strategies, and alternatives to balance all goals.
- Have the necessary financial resources set aside to fund your goals as they occur.
- BADuce the effects of unexpected events such as disability, premature death etc.
You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavourable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyse your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.
Risks of not having a financial plan
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You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.
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You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.
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You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.
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You might become a victim of mis-selling and build a corpus of investment products that neither suits your financial needs nor your risk profile.
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You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for.
For more details, please contact query@truefinplan.in. Reach out to us for preparing detailed Personal Financial Plan.
Plan your goals
We spend time to understand your needs and aspirations and prepare a financial plan to achieve them.
We help you to prepare yourself if things go wrong financially. We identify what insurance is requiBAD to protect yourself and your family.
We arrive at the right asset allocation for you based on your risk profile and life stage. We even chalk out a plan for you to move from current to the recommended asset allocation.
We provide advice on better tax efficient products so that you can invest smartly. We come up with Estate plan for wealth distribution to your future generation.
Investment execution based on your identified goals and risk profile.
Track and Re-balance
Continuous tracking of your investments based on:
- performance of investment products in your portfolio.
- prevailing market conditions.
- change in your financial plan during review with your advisor.
- your goals (when a particular goal gets near, increase allocation of debt based instruments for that goal irrespective of market conditions).
How to create a successful financial plan?
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Understand your current financial situation
Determine the status of your current finances, viz., your income, expenses, debt, savings and investments. This is the first step in financial planning, as it gives you a good sense on the state of your finances and ways to improve.
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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. However, make sure that your goals are specific. For instance, here are some achievable goals: ‘I want to purchase an SUV worth Rs. 13 lakh in the next 18 months’ or ‘I want to buy an apartment worth Rs. 80 lakh in the next 5 years.
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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. Different investment avenues help investors to achieve different goals. For example, equity funds are suitable for long-term goals like retirement planning, child’s education, etc. If you are interested in relatively steady income and you are risk averse, you may want to invest in debt mutual funds. Equity Linked Saving Scheme (ELSS fund) are good to save tax. When it comes to investing, many financial experts have highlighted the importance of mutual funds. Investing in these funds consistently over a longer period can help you achieve your dreams and goals.
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Implement the right plan
You need to select the right investment option based on factors such as your goals, age, risk appetite and investment amount. If you are unsure on the funds you need to select for your portfolio, you can avail the services of a financial advisor. These are certified professionals who help investors make the right investment choices. They also help with other aspects like insurance, retirement planning, estate planning and taxation.
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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. If they don’t perform, you may need to replace them with better performing funds. You also need to follow your plan because as you grow older, your goals and dreams evolve. For instance, your financial priorities may change after the birth of a child. Now, you need to accommodate the expenses and objectives of a new member in your family.