Financial Planning

In simple language, financial planning is management of financial resources & its deployment to take care of ‘current’ and ‘future’ needs of an individual or a family.

At Bonvista Financial Planner’s, we believe that successful financial planning process should have a perfect blend of theory and practical issues.

Financial Planning  involves analysis and planning in following areas.

Networth Analysis:

This involves analysis of your assets (something which you have) and liabilities (something which you owe). In this exercise we help you to understand your current financial standing (worth).

Cash Flow Analysis :

The process of cash flow analysis helps measuring current position on money ‘coming in’ and money ‘going out’. This process also helps in finding future financial requirements. Cash flow analysis helps you in understanding your current expenses and saving structure. This exercise also gives you an idea of future expenses and money that you will be able to save for your future.

Financial Ratios :

You can co-relate this exercise with Blood Sugar Check-up or Blood Pressure Check-up.

We help you understand whether your current loans are within the limits, whether your current savings are adequate, whether you have sufficient funds available with you in case of an emergency.

Risk Appetite :

We help you understand your thinking towards risk taking in context of investments.

We help you understand in what asset class, should you invest.

Goal Analysis and Goal Planning :

    

This part is “core” of a financial plan. We help you get clarity of various goals in your life, the period required for each goal and money required for each goal.

The next part of this exercise involves helping you understand the current funding available for each goal, how much more to be saved each month, how inflation will affect this goal, in which assets or in how many installments you should save money for each goal.

Insurance Planning : 

We help you understand current situation of your insurance policies, how much insurance you need, and what kind insurance policies you should buy.

Taxation :

With the help of our associates who are ‘Tax Experts’ we help you planning your taxation.

Succession Planning (“Will” writing) :

This is most important area, but usually most neglected. We help you creating you succession plan.