“Hope is not a financial plan.”

~ Ric Edelman 

Financial Planning

Financial planning is a step-by-step approach designed to meet one’s life financial goals. Financial Planning Standards Board Ltd. (FPSB) defines financial planning as a “process of developing strategies to help people manage their financial affairs to meet life goals.” A financial plan helps you be in control of your income, expenses, and investments. It acts as a roadmap for life’s journey, helping you grow your money to accomplish your goals, such as education and marriage of children, purchase of a house, foreign travel, corpus for starting a business, and retirement.

Retirement Planning

It is said that retirement is your golden age as you are finally free from work-related responsibilities and stress. Retirement will give you the time to pursue your dreams and fulfil your bucket list, but all of this requires money and so will your day-to-day expenses. Our household and lifestyle expenses are an incessant, quintessential aspect of life. During the working years, you are actively earning a monthly salary to meet your expenses, but post-retirement, you need a pre-planned financial corpus to live comfortably. This is where retirement planning comes into the picture. Retirement planning is that piece of the financial jigsaw which will help you plan for a comfortable retired life.

Tax Planning

Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes.” While there is no room for getting away from taxes in totality, there are some legitimate ways to reduce the incidence and burden. The Income Tax Act, 1961 offers tax-saving deductions and exemptions, which can be used to bring down your tax liability. The right guidance can maximize your post-tax gains from investments as well as
plug leaks due to overlooked deductions from your taxable income. Tax planning is thus a very important aspect of financial planning. We help you create a customized plan that will allow you to make the most of your income and investments from the taxation point of view.

Risk Management

Life is full of surprises and while you cannot avoid mishaps and unpleasant events, you can definitely prepare to handle them better. At FinFix®, we believe that risk management is one of the most crucial, yet overlooked, aspects of personal finance. Thus, it’s important to understand and measure the sources of risk and take steps to manage and minimize them, using quantitative and qualitative factors in the assessment process.

Investment Planning

While it is common wisdom that part of one’s earnings needs to be saved and invested wisely to augment wealth and help achieve different financial goals, how many of us implement this effectively? There are multiple reasons for not being able to do so. We at FinFix® believe that since every individual is different, a fitting investment strategy has to reflect and leverage on the differences. We not only develop a comprehensive investment plan based on your risk profile, investment horizon, investment objective, and return expectations but also constantly monitor and tweak your investments in order to provide a suitable trade-off between risk and return.

Cash Flow Management

Are you financially prepared to face a job loss, reduction in salary, or a large unexpected expense? Life is uncertain and such uncertainties often pose a demand on your finances. One of the crucial aspects of financial planning is to be able to tide over a period of financial crisis or a monetarily challenging situation with relative ease. Such preparedness entails a proper cash flow strategy as an integral part of the whole exercise. At FinFix®, we help you monitor your income and expenses, identify leakages from your budget, create a corpus for unforeseen situations as well as explore various possibilities to create additional sources of income.