Main Areas of Financial Planning
May 16, 2009 by: adminWhy do people need financial planning? Well, money is the basic requirement of every individual and this is why people need financial planning. But in broad sense, people need financial planning for following areas:
1. Children Marriage
2. Children Education
3. Emergency Provision
4. Wealth Creation
5. Old Age
The insurance companies normally invest money through mutual funds for wealth creation and extend insurance cover themselves. Wealth creation, insurance cover and tax benefits are the financial instruments for today scenario. Also financial planning without risk management is just meaningless and therefore the importance of insurance comes into figure. If you invest money and at the same time, unfortunately an accident or any member of your family got serious illness, then insurance is the only thing that can save you and your family financially.
