Financial Planning: The Path To Wealth Creation

Hemant Kumar Singh, Founder & Director, Emerging Finacare Services Pvt Ltd When it comes to creating wealth over the long term, financial planning is an absolute necessity. Wealth creation refers to building wealth through a variety of methods using financial products while financial planning is the process of defining different financial goals, quantifying them factoring in inflation and having an investment plan to meet each of these goals. A financial plan can act as a guide for your future and will help you be in control of your earnings, expenditure and savings. Financial planning helps investors achieve their financial goals such as home purchase, children’s higher education, their marriage, retirement planning, estate planning and long-term financial security. At the same time, taking these steps will help an individual be better prepared for unexpected risks such as...