What Does Financial Planning Mean?

During a recent discussion, which was held as part of the investor education and awareness initiative of Aditya Birla Sunlife Mutual Fund in association with Outlook Money, experts spoke about the importance of financial planning and the right ways to go about it. The experts who participated in the discussion were K.S. Rao, head of Investor Education and Distribution Development at Aditya Birla Sun Life AMC; Lovaii Navlakhi, Founder and CEO of International Money Matters Pvt. Ltd; and Harsh Roongta, a personal finance and tax expert. “Most people assume that financial planning is a highly complicated task. They fear that it involves taking ownership and action. All these factors lead them not to get bound to a plan,” said Rao, kicking off the discussion. Rao added that if people can get past these fears, they would realise that financial planning provides them a direction...