Overview

We provide systematic Financial Planning using 6 steps Financial Planning technique, to provide best Risk to Reward ratio, and generate maximum return for our client at minimum risk You can recall the six steps by memorizing the acronym, EGADIM: 1. Establish the goal/relationship 2. Gather data 3. Analyze data 4. Develop a plan 5. Implement the plan 6. Monitor the plan Step 1: Establish the Goal / Relationship The purpose of establishing the goal or relationship is to form the foundation or purpose of planning itself. Step 2: Data Gathering How far along are you in your goals? Do you have any money saved yet? Do you have life insurance? Do you have a will? Do you have children? If so, what are their ages? Your Dreams about Home / Car / Vacations / Hobbies. Step 3: Data Analysis Based on the data will arrive at some basic assumption, and time available to accomplish your goal with respect to your risk appetite. How long you can accumulate Retirement corpus. When your kids require money for Higher Education. Step 5: Implement the Plan It takes discipline and desire to put it into action. You may begin to wonder what may happen if you fail. This is where inaction can grow into procrastination. Step 6: Monitor the Plan This is why the plan needs to be monitored and tweaked from time to time. Think of what can change in your life, such as marriage, the birth of children, career changes and more. It's called "financial planning" for a reason: Plans evolve and change just like life. Bottom Line As describe above is the 6 steps of financial planning technique apply to each and every individual, to any area of Personal finance including Insurance Planning, Tax Planning, Cash Flow (Budgeting), Estate Planning, Investment & Retirement Planning. We know you are busy in your routine and not aware about the market dynamics so Shree Balaji FinServe will provide all the latest information along with necessary changes.