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INTRODUCTION TO FINANCIAL PLANNING PDF

Wednesday, September 11, 2019


INTRODUCTION TO FINANCIAL PLANNING. Financial planning is the process of managing your finances in line with your life goals. Life goals can. A holistic financial plan not only involves investing money and building your Financial planning is an important life skill to help you plan for your future and. Establishing your goals in life – over the short, medium and long term. 2. Working out what assets and liabilities you have – and recording this information in.


Introduction To Financial Planning Pdf

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Introduction to. Financial Planning. By Madhupam Krishna. Madhupam Krishna is SEBI Registered Investment Advisor and Founder of TheWealthWisher. Introduction to Personal Financial. Planning. OVERVIEW OF PERSONAL FINANCIAL. PLANNING. Imagine yourself trapped in a maze filled with twists and turns. Personal Financial Planning. CHAPTER ONE. Introduction. Personal financial planning is the process of gathering and analyzing financial data to develop a.

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Financial planner

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Introduction to Financial Planning 2. Certified Financial Planner Module 1: Introduction to Financial Planning 3. Introduction to Financial Planning 4. The Financial Planning process involves 6 steps: Establishing and 2.

Establishing and 1. Monitoring the 1. Monitoring the 3. Introduction to Financial Planning 5. Developing and 5. Developing and 4.

Analysing and 4. Analysing and 6. Implementing the 6. Introduction to Financial Planning 6. A tax return is a good basis to cover all aspects.

Note also any employer-provided perquisites. Using the budget form, try to isolate discretionary from non-discretionary expenses. Developing Strategies The following things need to be kept in mind: An analysis of client risk tolerance involves an evaluation of four risk concepts: Implementing and monitoring the financial plan Implementing the plan: Financial planning review The following issues can be expected at this step: Need for financial planning review Regular reviews are necessary for: Steps in the financial planning review The review process should take the following steps: The type of benchmarks to be used is important.

Certification requirements Modules: The certification covers six India-localized course modules as follows: Module 1: Introduction to Financial Planning Module 2: Risk Management and Insurance Planning Module 3: Retirement Planning and Employee Benefits Module 4: Investment Planning Module 5: Tax Planning and Estate Planning Module 6: Candidates have a maximum of seven years to complete the certification process.

For certification, you are required to meet the following four initial certification requirements known as the four "Es". Code of Ethics and Rules of Professional Conduct.

Financial transparency and planning

As such, the Rules set forth the standards of ethical and professionally responsible conduct expected to be followed in particular situationsCertified Financial Planner Module 1: Rules of professional conduct There are a number of rules of professional conduct that have been set for CFP Candidates. These relate to the following broad categories: However, no definitive standard for evaluating risk tolerance has emerged.

The client may be underinsured because of simple procrastination or ignorance of the nature of the risks they face. The clients willingness to incur financial risks. Cash disappears quickly and if you dont write down everything you spend it on, youll have a distorted look at your spending.

Without goals, your budget is just a pair of handcuffs. This may identify expensed you may not have been aware of when you werent tracking your spendingCertified Financial Planner Module 1: Why do people keep cash? Cash for day-to-day routine transactions such as buying daily groceries. Keeping cash as a precaution against unforeseen events and emergencies. Keeping cash for investing in securities when the right time arises.

A minimum balance is needed to avail of bank accounts, credit cards, ATM cards, personal loans etc. Financing of Personal Assets Following are the main types of personal assets financing instruments: Mortgage Loans There are six different types of mortgages: Types of Mortgages Mortgage by Mortgage by Usufructary Usufructary English English Simple Mortgage Simple Mortgage conditional sale conditional sale Mortgage Mortgage Mortgage Mortgage Property stands Property stands absolutely absolutely Possession stands Possession stands transferred to the transferred to the transferred transferred mortgagee with aa mortgagee with Involves Involves to the mortgagee to the mortgagee covenant to repay covenant to repay A mortgage without A mortgage without an ostensible sale an ostensible sale and rents and profits and rents and profits the mortgage the mortgage the transfer of the transfer of to start with to start with from the property from the property money on aacertain money on certain any property.

Types of Mortgages Mortgage by deposit Mortgage by deposit Anomalous Mortgage Anomalous Mortgage of title deeds of title deeds The security for the The security for the A simple mortgage A simple mortgage money is intended money is intended giving an added right to giving an added right to to be created by to be created by take possession in take possession in deposit of the deposit of the case of defaults of case of defaults of title deeds or papers title deeds or papers payment becomes an payment becomes an of the property..

A short-term lease. The possession of asset returns to the owner or the lessor at the end of the lease term. Generally for a longer period. GDP GDP is the measure of total value of final goods and services produced in the domestic economy each year.

For living standards to rise in India, GDP must grow at a faster rate than the population. This way, there is greater quantity of goods and services per person. The following information is available for an economy. Types of Inflation Result of aasteady increase in aggregate demand Result of steady increase in aggregate demand Demand Pull Inflation Demand Pull Inflation for goods and services when the economy for goods and services when the economy is unable to adequately fill this demand.

Result of aahigher cost factor of production Result of higher cost factor of production Cost Push Inflation Cost Push Inflation being passed along to the consumer being passed along to the consumer in the form of higher prices. Producers exerting aastrong influence on Producers exerting strong influence on Administered Prices Administered Prices the price of the product because the price of the product because of aalack of competition.

Inability to solve the simultaneous problems of Inability to solve the simultaneous problems of Stagflation Stagflation economic stagnation and inflation economic stagnation and inflation through the use of monetary and fiscal policies. This occurs when high rates of inflation This occurs when high rates of inflation and high rates of unemployment happen and high rates of unemployment happen simultaneously. Fiscal policies of the government Fiscal policy deals with spending, borrowing and taxes and has a major influence on raising debt and on interest rates.

It is based on revenue and outlays, revenue income from taxation, sale of government assets and borrowings. Goals of fiscal policy goals include: Monetary policy acts upon interest rates and these in turn affect the level of investment undertaken in the economy. Interest rates on secured loan will be less than that of on the unsecured loans. Besides these, we have speculative stocks - Stocks of new, small firms whose chances for success are not great mining stocks, etc.

An investor should not place money in these stocks if they cannot afford to lose it during bad times. To provide for personal risks such as premature death, sudden disabilities, medical emergencies and so on.

Introduction to Financial Planning 7. Introduction to Financial Planning 8. How to make Financial Planning work: Introduction to Financial Planning 9.

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Introduction to Financial Planning Personal Details Personal details should include the following: Identify what is real and which has been estimated. Also a temporary "parking place" for funds to be invested elsewhere in the near future. Analysis of relevant information Personal Details: The main points to consider are: Analysis of relevant information Financial Details: A tax return is a good basis to cover all aspects.

Note also any employer-provided perquisites. Using the budget form, try to isolate discretionary from non-discretionary expenses. Developing Strategies The following things need to be kept in mind: An analysis of client risk tolerance involves an evaluation of four risk concepts: Implementing and monitoring the financial plan Implementing the plan: Financial planning review The following issues can be expected at this step: Need for financial planning review Regular reviews are necessary for: Steps in the financial planning review The review process should take the following steps: The type of benchmarks to be used is important.

Financial Planning Concentration

Certification requirements Modules: The certification covers six India-localized course modules as follows: Module 1: Introduction to Financial Planning Module 2: Risk Management and Insurance Planning Module 3: Retirement Planning and Employee Benefits Module 4: Investment Planning Module 5: Tax Planning and Estate Planning Module 6: Candidates have a maximum of seven years to complete the certification process.

For certification, you are required to meet the following four initial certification requirements known as the four "Es". Code of Ethics and Rules of Professional Conduct. As such, the Rules set forth the standards of ethical and professionally responsible conduct expected to be followed in particular situationsCertified Financial Planner Module 1: Rules of professional conduct There are a number of rules of professional conduct that have been set for CFP Candidates.

These relate to the following broad categories: However, no definitive standard for evaluating risk tolerance has emerged.

Also read: KAPLAN QBANK PDF

The client may be underinsured because of simple procrastination or ignorance of the nature of the risks they face. The clients willingness to incur financial risks. Cash disappears quickly and if you dont write down everything you spend it on, youll have a distorted look at your spending. Without goals, your budget is just a pair of handcuffs.

Financial Planning for individual

This may identify expensed you may not have been aware of when you werent tracking your spendingCertified Financial Planner Module 1: Why do people keep cash?

Cash for day-to-day routine transactions such as buying daily groceries. Keeping cash as a precaution against unforeseen events and emergencies. Keeping cash for investing in securities when the right time arises.

A minimum balance is needed to avail of bank accounts, credit cards, ATM cards, personal loans etc. Financing of Personal Assets Following are the main types of personal assets financing instruments: Mortgage Loans There are six different types of mortgages: Types of Mortgages Mortgage by Mortgage by Usufructary Usufructary English English Simple Mortgage Simple Mortgage conditional sale conditional sale Mortgage Mortgage Mortgage Mortgage Property stands Property stands absolutely absolutely Possession stands Possession stands transferred to the transferred to the transferred transferred mortgagee with aa mortgagee with Involves Involves to the mortgagee to the mortgagee covenant to repay covenant to repay A mortgage without A mortgage without an ostensible sale an ostensible sale and rents and profits and rents and profits the mortgage the mortgage the transfer of the transfer of to start with to start with from the property from the property money on aacertain money on certain any property.

Types of Mortgages Mortgage by deposit Mortgage by deposit Anomalous Mortgage Anomalous Mortgage of title deeds of title deeds The security for the The security for the A simple mortgage A simple mortgage money is intended money is intended giving an added right to giving an added right to to be created by to be created by take possession in take possession in deposit of the deposit of the case of defaults of case of defaults of title deeds or papers title deeds or papers payment becomes an payment becomes an of the property..

A short-term lease. The possession of asset returns to the owner or the lessor at the end of the lease term. Generally for a longer period. GDP GDP is the measure of total value of final goods and services produced in the domestic economy each year.

For living standards to rise in India, GDP must grow at a faster rate than the population. This way, there is greater quantity of goods and services per person.Without goals, your budget is just a pair of handcuffs. Number of Years m: Are you sure you want to Yes No. It also describes how to use the web-based tool www. The main points to consider are: We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads.

Type is the number 0 or 1 and indicates when payments are due. Introduction to Financial Planning 3.

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