It is a well known fact that a financial planning exercise is not just about numbers but about the discovery…of what you can do with your money. Your financial plan, if done well, can truly change the pace of your life.
I am sure you have read my post on 50 decisions you can make with a financial plan. Today, let me tell you about some interesting discoveries in the recent financial plans that I had the opportunity to work on.
An ex-colleague of mine realised that they have she and her husband were focused too hard on savings. With the newly minted plan, a great realisation dawned. It helped them see that they could relax a bit, take a few more days off, travel and yet will be able to reach they goals. This allows them to live a more joyous present.
One NRI gentleman, to his astonishment, found out that he is holding an equity heavy portfolio for no good reason. He is on the verge of retirement and as the plan suggests, needs ZERO equity for his goals, thanks to his savings over the years. Of course, the choice to invest in equity remains and he will allocate some. But he doesn’t need a 70% exposure. This gives him tremendous peace of mind. (None of his previous advisors told him that!)
The market ticker doesn’t have to dictate the quality of his sleep anymore.
Yet another client was able to take a small but significant personal decision. During the course of financial planning, he realises that he has surplus cash flows (over and above his regular expenses and savings). This now permits his family and him a little luxury. From now on, they will fly business class. Super!
These are small stories but you see how in each case, the individuals can make the present time more joyous, by casting away their money worries. That’s the power of financial planning.
Frankly, every single time I am involved with a realisation to the client, it makes me feel out of the world.
That’s what my note to you today is about.
I want to work with you to help you ‘see’ the possibilities that exist and how you can get your money to fulfil you financial goals and more.
This is a simple 3 step process.
1 Download this goal planning workbook. It has 6 sheets. Use it to enter all the relevant details about your money. I have added comments wherever required. Even if you are able to reach 80% of it, great! The rest can be figured out.
2 Send the sheet to me along with any additional information you think is useful or any big questions you have on your mind. I will use your inputs to share a plan with you. It includes a comprehensive dashboard of everything that matters to you with regards to your money and your goals.
The key areas that we will look into are:
- Your current financial status – Networth & Liabilities
- Your cash flows – income, expenses, savings
- Your emergency funds and protection via insurance (Life, Health and Accident/Disability)
- Your goals, how much you need to save, what are the overall success chances of achieving those goals (determined through analysis of 100s of scenarios)
- The savings gap, current savings allocations including your tax savings
- [Hidden Benefit] You and your spouse can finally align on the subject of money! 🙂
3 We will then get on a call to discuss and help you ‘see’ the plan and what are the key steps you need to take to secure your financial future OR reach your financial goals, faster.
When I say see, expect to make discoveries similar to those mentioned earlier in this note.
You can use the plan and the understanding to work diligently to achieve your goals, make your current life better including living through all the experiences you have desired.
And, that’s it.
If you have not done a financial planning exercise recently (including a review), this could be the best time to do it.
The core purpose of this exercise is to prepare the framework and structure based on which you will select your investments. As I have been saying, this structure is the most important thing.
Is there a cost to this exercise?
Well, let’s invert the question.
“What is the value I will get?”
And if you can get a handle on the value, you will realise that the cost is nothing.
You must also read this: 50 decisions you can take with a financial plan.
Coming to the fee question, personalised planning and advisory services come at a much larger cost but not in this month of December 2019.
Happy New Year 2020 – in advance. 🙂
So, here are 2 options you may use to make the most of this opportunity:
You can subscribe to Insider Plus and as an additional benefit go ahead with this exercise. This is Rs. 10,000 plus taxes.
As you would know, Insider Plus also gives you one full year of access to all my research and recommendations. Here are the details.
You need NOT pay anything now. Yes, really! Let’s do this exercise. Once we have completed and you have realised the value from it, you can go ahead and then subscribe to Insider Plus.
If you don’t see any value, so be it… No payment, no obligations!
I am sure though that you will derive a lot of value.
Now, I am ready to see you win and be joyful. Are you?
Note: Financial Planning is an ongoing process. While this exercise will provide you with a one time plan, you need to revisit your plan at least once a year to account for any changes.
This offer is applicable only for the month of December 2019. While asset allocation is included, there is no existing portfolio review. You can opt for other services for a portfolio review.