How Can A Financial Planner Help You Meet Your Life Goals?

Posted on by Chandan Sanwal

The journey of life gets accomplished when all dreams and wishes are fulfilled. While you work hard every day to ensure you lead a comfortable life, fulfilling all the desires would require extra financial assistance. Thus, it is imperative to plan finances as the expenses are increasing in the world. If you are facing trouble with the right allocation of your money, a financial planner can assist you to do so. With a financial planner by your side, you will be able to manage your financial portfolio.  


Financial planning is required because you cannot predict the future. There can be unseen situations which might hamper your life. To ensure that you are prepared for every circumstance, a financial planner’s help is required. There are reputable financial advisory firms like FinEdge who can assist you in achieving your life goals.

What Does A Financial Planner Do?

A financial planner, also known as an advisor, helps you organize your finances and plan the investments decisions to predict how prepared you are for your life goals. Together, you and your financial advisor will cover many topics, such as your saving plans, insurances, and tax planning. The professional, with his understanding, will also help you determine your budgeting and saving procedure. After making you familiar with your financial health, your planner will follow these steps:

  1. Plan A Financial Questionnaire 

The financial planner works by comprehending the complete picture of your assets, liabilities, income and expenses. He will ask you about your future income sources on the questionnaire while also including your current and expected investments. With all this information, the planner will be able to understand your risk-taking capacity and tolerance. Further, the professional with the initial assessment will examine other financial topics such as your insurances and taxes. Once, your present financial position is determined, he will then move ahead with future projections.

2. Create a Financial Plan

After processing all the information, the financial planner will formulate a comprehensive plan. The key findings of your present financial status are then summarized, and your goals are determined. With the analysis of your risk tolerance and current economic issues, a plan gets formulated. This plan will incorporate the expected net worth and income at different life stages. Further, it will provide you with the stimulations of potential best and worst-case retirement scenarios and various other possibilities.

3. Plan Action Steps

He will then set an asset allocation that fits both your risk tolerance and risk capacity. In this manner, your financial portfolio will cover up various asset classes. If you are more risk-averse, the plan will concentrate on government bonds, money market holdings and others. Else, if you are risk-tolerant, your plan will comprise of stock and corporate bonds and even invest in real estate. This allocation will consider your age as well.

4. Regular Monitoring of the Financial Plan

Once the investment plan is in place, your financial planner will regularly update you with statements for your portfolio. Additional regular meetings will also be planned by the advisor to discuss and review your goals and progress. It will help if you confront your financial planner on facing a significant change in life. He will also advise changes in the portfolio when there is a change in the government tax rules. For instance, if you have plans to buy health insurance but do not know much about Section 80D of Income-tax, he will let you understand its tax benefits.

Setting life goals is one way to drive yourself towards achieving them. Hence, an extensive financial portfolio is required to reach your life goals. As you grow, you might start a family, and then you might have plans for your child. Further, there can be plans for your retirement as well. Therefore, it is a wise decision to have a financial planner who will guide you and plan according to your requirements. Reliable financial advisory firms like FinEdge have a credible team of financial planners who will help you achieve your life goals. With the help of an advisor, you will be able to prioritize your goals one by one and successfully achieve them.



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