Well about 30 years ago this question in the US would have met with a ‘Are you kiddin…who needs one?’

However a new set of finance professionals have made it necessary to have a financial plan. Preferably made by a professional for a fee, and sounding very great.

Chances are if you are an Indian investor you will not have a financial plan….hey nobody in your family EVER had one. Why do you need it?

You need it because –

– you are not a government servant, so do not have a nicely indexed pension

– you have no clue whether your house will appreciate so much that it becomes a nice investment nest for you to sell and live off that

– your kid(s) may not be in a great career which will allow them to look after you or your spouse

– your kid(s) may be dependent on you far, far longer than what you think

– you may not have kids!

– you may be supporting a parent or a challenged sibling

——there could be many reasons. Far more importantly a financial plan need not be made by a professional, it can be made at home by you yourself. Just get started.

It is always nice to know how your life is going to look over the next 10, 20 or 30 years….it might force or propel you into action.

Do not worry even in the more advanced countries the situation is not much too better….

Read on


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