Have you heard one of the finance gurus talk about financial planning pyramid, but not sure what that means? Keep on reading this article to find out.
With the country making great strides on the economic ground, every individual salary earner is tending towards financial planning to secure their financial futures. Although financial planning is quite a known fact, the financial planning pyramid is not a term, most of us are familiar with unless you are from the economic background. Considering the same, Paisa Invest has dedicated this article to highlight the meaning of financial planning pyramid and how it can affect your financial future.
Let’s first understand the meaning of financial planning pyramid as such
What is Financial Planning Pyramid?
As the name suggests, the financial planning pyramid is a pyramid-like structure giving a defining the necessary steps to your economic plans to attain financial freedom. Beginning from a solid base inclusive of a written budget, short-term and long term goals, and future income and investments plans, the pyramid goes up to further elaborate financial steps.
The pyramid consists of five levels, namely, the protection of wealth, savings and accumulation of capital, diversification, speculation including tax planning, and finally, meeting goals.
How is the financial planning pyramid crucial to your financial future?
Financial Planning Pyramid empowers the investor to define at which level he or she is at their economic planning. It gives them a precise picture of what are they doing right and what requires correcting for them to reach their financial goals. It assists them in prioritizing and organizing their finances by initiating with a solid base formation to strengthen their economic plan for future progression and eventually reaching their financial ends.
However, solely defining your present financial situation and explaining the loopholes in the same is not going to help you enough with your financial future if you fail to take appropriate steps to meet the same. Often than not, lacking financial knowledge leads to inadequate measures taken by investors that ultimately fail their whole motive. That is where finding a professional financial planner in Kolkata can benefit you in a big way. A professional financial planner, proficient in their craft, can help you take a step further with your financial planning pyramid by identifying your current financial situation. They further suggest the adequate and necessary steps to be taken to meet your end goals.
Are you looking for a professional financial planner to take you further from the base level of your current financial planning pyramid? Contact Paisa Invest today to receive the specialist advice on your financial future and planning.