In Finance India, we provide Indians with financial calculators designed specifically for Financial Planning, Mutual Funds, Retirement, Investment, Portfolio Rearrangement, Income Tax, and Online Portfolio.

The SIP delay calculator helps you calculate how much you will lose if you delay your SIP. It refers to the potential earnings that could have been made if the SIP had been made at the beginning rather than at the end of the investment period. To calculate this cost, multiply the average daily return over the investment period by the number of days of delay.

Who requires Financial Planning?

Some individuals might feel that they don’t need to plan or they know their finances better, or don’t have enough money. However, every person whether poor or wealthy requires Financial Planning like all rich and poor require medical treatment.

Why do individuals and families need to plan their finances?

There are no prevalent large-scale social security schemes in India, so responsibility increases to plan for emergency events, health & life cover, and retirement provisions. All sources of money need to be allocated in a prudent and disciplined way toward own needs, wants, and other spending requirements.

What is Financial Planning and where do we tend to make mistakes?

When you go to a doctor, he/she diagnoses the patient to understand the problem and then prescribe the medication. The doctor’s focus isn’t on the medicine (Cipla or Ranbaxy), the focus is on the problem and overall health of the patient. Similarly, a financial planner’s role is to understand your financial strengths and threats, and accordingly suggest allocation in each asset class and its product or schemes. Looking for products first and then trying to fit that product into your life isn’t the right approach. Looking at life first and at a later stage products must be looked at.

What should be our right approach?

We all do financial planning unknowingly and in an unstructured manner in isolation. We do fixed deposits, buy insurance policies, invest in stocks and mutual funds, buy real estate, and take loans. Any spending or investment decision that you make certainly impacts your overall financial life. Financial Planning is considering the impact of one decision on another, and utilizing resources in the best possible manner to achieve one’s financial aspirations.

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