Financial Goal Tracker

A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, childrens education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.

Having a financial plan is like having a travel plan - it identifies where youre going, how and when youll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life.

Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much of trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience of the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.

Do you need financial plan?

Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepared for it. An effective financial plan will make sure that you are financially prepared to deal with the unexpected events and stormy times. If you dont have one, youre more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met. A good financial plan can alert you to changes that must be made to make sure a smooth transition through lifes financial phases, such as decreasing spending or changing asset allocation.

By developing a financial plan you and your family:

  •         Will have a better understanding of your current financial position.
  •         Determine attainable retirement, education, insurance, and other financial goals.
  •         Review goals, funding strategies, and alternatives to balance all goals.
  •         Have the necessary financial resources set aside to fund your goals as they occur.
  •         Reduce the effects of unexpected events such as disability, premature death etc.

You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavorable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyze your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.

Risks of not having a financial plan:
You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.

You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.

You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.

You might become a victim of mis-selling and build a corpus of investment products that neither suits your financial needs nor your risk profile.

You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for.

Tips for Effective Financial Plan

  •  Be realistic with your investment returns; dont plan to outperform the markets.
  •  Account for market risk and dont assume the same return to repeat every year.
  •  Dont forget to plan for inflation, taxes and your financial planners fees.
  •  Review your financial plan regularly to see if you are on track or need any changes in the plan.

The need for financial plan is all the more very important in the turbulent economic times of today. If you dont have one till now, dont delay any more and Get it Now. Dont be self-satisfied that you will be okay whatever happens. Face the reality. Unless you develop a financial plan early, it will be too late.

Portfolio Login


What explains buoyant MF inflows amid negative news flow? Thanks to popularity of SIPs, individual investors now hold a higher share of MF assets at around 53 percent of total AUM as of December-end
Tue, 11 Feb 2020 18:32:22 +0530


Ideas for Profit | HDFC AMC posts strong performance in Q3, should investors buy? NULL
Wed, 22 Jan 2020 09:31:05 +0530


Mutual funds add 68 lakh folios in 2019 However, the pace of growth in folio numbers dropped in 2019 as compared to preceding three years. Industry experts attributed the trend to decline in investors account in debt oriented schemes as they were spooked by credit events in fixed income market.
Tue, 21 Jan 2020 15:14:07 +0530


BSE, NSE shut today on account of Mahashivratri The BSE Midcap and Smallcap has outperformed the benchmark indices with a gain of 0.40 percent and 0.51 percent, respectively.
Fri, 21 Feb 2020 07:20:13 +0530


Taking Stock: Volatile week on D-St; Sensex fall more than 150 points, Nifty holds 12K Momentum on the upside shall pick up on a strong close above 12150 levels, suggest experts.
Thu, 20 Feb 2020 16:25:24 +0530


Taking Stock: Bulls regain control after 4-days of pain, Nifty reclaims 12,100 levels Traders can make use of dip to create fresh longs with a stop below 12030 levels on a closing basis and look for an initial target of 12178.
Wed, 19 Feb 2020 16:52:19 +0530


Taking Stock: More than 250 stocks hit 52-week low; Nifty fails to hold 12K Nifty formed a bearish candle which looked like a ‘Hammer’ kind of pattern.
Tue, 18 Feb 2020 16:28:55 +0530


Taking Stock | Moody#39;s downgrade spoils the mood; indices falls for 3rd day in a row After witnessing a positive opening, the market benchmarks slipped in the negative soon and traded in the red for the most part of the session, eventually settling with losses.
Mon, 17 Feb 2020 16:35:39 +0530


Market Headstart: Nifty likely to remain under pressure; telecom, bank stocks to be in focus FPIs sold shares worth Rs 704.92 crore, while DIIs bought shares of worth Rs 219.54 crore in the Indian equity market on February 14, provisional data available on the NSE showed.
Mon, 17 Feb 2020 07:39:31 +0530


Taking Stock | Supreme Court raps telcos for not paying up; Sensex falls below 50-DMA The apex court#39;s stance weighed on financial stocks also because of their exposure to the sector.
Fri, 14 Feb 2020 17:03:13 +0530


Taking Stock: Nifty slips below 12,200 weighed down by macro data, Coronavirus fears Intraday traders can consider long position if Nifty sustains above 12232 levels.
Thu, 13 Feb 2020 16:38:09 +0530


Taking Stock: Indices rally for 2nd day in a row; Nifty50 reclaims 12,200 levels If the index closes below 12,144 then a fresh leg of downswing shall unfold with initial targets of 11,990.
Wed, 12 Feb 2020 16:32:04 +0530


Taking Stock: AAP sweeps Delhi Assembly Election; Nifty closes above 12,100 Traders are advised to wait for at least a strong close above 12138 levels before initiating fresh longs.
Tue, 11 Feb 2020 16:26:13 +0530


Taking Stock: Coronavirus concerns weigh on D-St; Nifty falls for 2nd day, but holds 12K Positional traders are advised to create fresh shorts on a breach of 11950 levels on a closing basis and look for a target of 11770.
Mon, 10 Feb 2020 16:39:28 +0530


Taking Stock: Indices break the 4-day winning streak; Nifty ends below 12,100 Broader markets outperformed as the SP BSE Midcap index rose 0.44 percent while the SP BSE Smallcap index gained 0.75 percent.
Fri, 07 Feb 2020 16:43:09 +0530


Taking Stock: RBI#39;s accommodative stance, liquidity measure boost sentiment; Nifty above 12,100 Short term weakness shall be expected on a close below 12084 levels and in such a scenario initial target can be towards 11950 levels
Thu, 06 Feb 2020 16:27:31 +0530


Taking Stock: Sensex back above 41k, Nifty reclaims 12,000; time to buy? Experts are of the view that there are plenty of opportunities to enter on dips in this market as the fundamentals still remain sound.
Wed, 05 Feb 2020 16:35:30 +0530


Taking Stock: Market recoups Budget Day losses! Investors’ wealth rises nearly Rs 3 lakh cr Sectorally, the action was seen in consumer durables, metal, Oil Gas, energy, and realty stocks
Tue, 04 Feb 2020 16:36:16 +0530


SBI#39;s credit card business IPO to open on March 2 The company plans to issue new shares worth Rs 5 billion and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, showed.
Thu, 20 Feb 2020 11:45:03 +0530


SBI Cards IPO might be launched on March 2, offer price may be Rs 745-775 per share: Report A report noted that SBI is likely to raise Rs 2,780-2,880 crore with this IPO.
Tue, 18 Feb 2020 17:57:19 +0530


SBI Cards IPO gets SEBI nod; launch by February end The offer for sale includes up to 3,72,93,371 equity shares by SBI and up to 9,32,33,427 equity shares by CA Rover Holdings.
Tue, 11 Feb 2020 16:26:03 +0530


ITI withdraws Rs 1,400-cr FPO due to prevailing market condition The Rs 1,400-crore public issue was subscribed 62 percent despite extending the subscription period twice since its opening, and reducing the price band to Rs 71-77, down from Rs 72-77 earlier.
Wed, 05 Feb 2020 18:12:49 +0530


ITI FPO subscribed 57% on 8th day, retail portion fully booked After the issue, government shareholding in the company will reduce to 74.96 percent from 90 percent.
Mon, 03 Feb 2020 19:46:22 +0530


ITI extends FPO closing date to Feb 5, keeps price band at Rs 71-77/sh The issue has received bids for 9.8 crore equity shares against offer size of 18.18 crore shares, the exchange data showed.
Fri, 31 Jan 2020 15:23:56 +0530


ITI FPO subscription remains unchanged at 49% on 4th day The Rs 1,400-crore further public offer (FPO) has received bids for 8.86 crore equity shares against offer size of 18.18 crore shares, as per data available on the NSE.
Wed, 29 Jan 2020 21:21:51 +0530


ITI follow-on public offer subscribed 49% on third day The reserved category for retail investors has seen subscription of 92 percent and that of qualified institutional buyers 49 percent and non-institutional investors 16 percent.
Tue, 28 Jan 2020 18:49:34 +0530


ITI FPO#39;s closing date extended to Jan 31; price band revised to Rs 71-77/sh The company, in consultation with merchant bankers, extended the closing date for FPO by three more days.
Tue, 28 Jan 2020 16:36:44 +0530


ITI FPO subscribed 9%, retail category subscription at 50% on Day 2 The government#39;s shareholding will be reduced to 74.96 percent, from 90 percent currently after the issue.
Tue, 28 Jan 2020 08:52:01 +0530


ITI sets price band at Rs 72-77 per share for Rs 1,400cr FPO The funds raised through FPO would be utilised for funding its working capital requirements as well as repayment of existing debt.
Wed, 22 Jan 2020 19:43:40 +0530


ITI follow-on public offer opens on Jan 24, may raise Rs 1,600 cr The company in its BSE filing on January 19 said the meeting of the board of directors of the company is scheduled on January 22 to consider and approve price band for FPO.
Mon, 20 Jan 2020 15:36:50 +0530

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