Financial service sector is very vast and complicated.Banks,Insurance companies,Stock brokers and NBFCs are offering large number of financial products.Which are best suited for our finncial goals and needs?Is there any hidden charges?Each person is expecting optimum satisfaction.But,often result end in diappointment.Why?because,you are not having a good financial advisor.
We are spending a lot of time for shopping,movies,travelling and other entertainments.Bills may be paid by debit card or credit card of yourself .Ok,what's about future?Having enough fund for Childrens higher eduction,Marriage,Buying a new car or property..etc?Still,you are not started to save for retirement corpus?If so,you need a Financial advisor.
A professional financial advisor can assess your netwoth and prepare personal financial report.It will show you the real picture.You can select a term assrance plan after understanding your human life value.This is a great precaution against unexpected happenings.It will safeguard your dear ones.Another important thing, you need an emergency fund of at least 3 months total expenditure.Otherwise,you cannot manage unforeseen financial calamity in any form.Rising Medical bills are reminding us about the importance of adequate Health insurance.Still now, 2008 world recession is existing even after the collapse of many banks;so you need secure savings deposits.
Some new business areas may grow or boom in near future.Think about amazing rise shown by Google,facebook,Amazon and Apple.In India,Wipro created value in millions for it's shareholders.Warren Buffet,Peter Lynch ,Ambani ,Rakesh junjunwala etc .......No investors are built in a day.Asset allocation and Portfolio preparation is not an easy job.You may be in trouble by investing at wrong avenues.
All these things are crucial for achieving financial freedom in life. So,find a Practising and Fee based Personal financial advisor .
Finally, formulate your own financial plan and execute it for better future.