Financial Planning And Investment Planning Redefined

As soon as I started working, I realised the importance of investment planning and tried to find out about ways and means to investment my meagre earnings. As my investment journey was set in motion; I realised that I set out on a trip that was without any direction, without a goal, and without a destination. I made investments without understanding the product, purpose or concept of the vehicle. Friends argued with me about how difficult it would be to understand about investments, but very few actually knew how the entire gamut of financial planning worked. I first realised that investment planning without a well-thought-out financial plan does not yield the desired results. 

The general notion among novice investors like myself is that financial planning and investment planning are the same things, but, financial planning is the larger spectrum that includes investment planning. Without any doubt, investment planning plays a very important role in a successful financial plan, but it is not comprehensive in itself. However, it is imperative to understand the difference between the two, to truly improve your financial health. 

In layman terms, financial planning is a professional and realistic plan of organising money for the entire cycle of your life. This realistic financial plan is the evaluation of your current financial situation and a forecast of your future financial situation, that enable an advisor to plan your savings, expenses, taxes, term insurance, investments, asset, and last but not the least retirement. A good financial plan will enable you to achieve your short, medium and long-term financial goals, and will have to be revisited and altered at important junctions in your life. 

In simple terms, investment planning is a systematic and consistent plan to allocate your resources to maximise the returns. This consistent plan is the structured method to continuously allocate the funds to investment vehicles even when the growth isn’t as much as forecasted, that enables an advisor to act on behalf of you and execute a pre-decided investment structure factoring in risk, diversification, and returns. A good investment plan will enable you to make decent profits even during market volatility and establish a good base for your financial plans. 

The next question one would ask is when the right time is to start planning your finances. I would say it is TODAY, no matter what your age is. With every passing year there will be new challenges and with every passing decade, there will be new expenses that have not been accounted for. Both investment planning and financial planning are customised solutions and the most appropriate way to move ahead confidently would be to seek professional help. The way forward would be to work with a certified advisor to analyse your financial life, access your risk appetite and decode the best plan that will help you live your life the way you ought to.

Don't take your financial health lightly, it is as important as your physical and emotional health. 

Until next time,
~ Heena

Aegon Life: A joint venture between Aegon – world’s leading financial services and Bennett, Coleman & Company – India’s leading media house, Aegon Life Insurance launched its pan-India operations in July 2008. Armed with a vision to be the most recommended new age life insurance company, Aegon Life adopts the power of global expertise by leveraging digital platforms to bring transparent solutions, and to prioritize customer needs. Our financial planning and investment solutions include term life insurance plans, pension plans, unit-linked insurance plans (ULIPs), health insurance plans, child education plans, and more.

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Bags That Compliment Your Festive Wear

India is a country of traditions where every festival, every occasion, every celebration is a multi-day affair; some with super intricate rituals and numerous functions. And those are the days when we throw caution to the wind and indulge in the extremes, be it elaborate decorations, sumptuous food, crazy music or traditional fashion. Ethnic wear and Indian celebrations go hand-in-hand. However, most people make the mistake of de-accessorising ethnic wear, which ultimately ruins the entire look. Fashion trends come and go, but the staple look always remains the same - a great outfit, complimented with beautiful traditional jewellery, flattered by some gorgeous heels and completed by designer handbags. 

As a fashion stylist, I would at times compromise on things other than a handbag, but I know for a fact that only a perfect, outfit-appropriate hand accessory can do justice to an ensemble and make the person an iCynosure of the occasion. Not many think about a handbag when the outfit in itself is so enchanting. The easiest thing for anyone would be to dig into the pool of handbags, that you think will be complimentary and head out. But that sure isn't going to make any heads turn. You need to know which type of bag you shall need and when to carry it to look like an ace in the fashion game. 

Potli Bag - Old World Charm
The potli bag has undergone some serious changes from the days our great-grandmas carried them until today. With new twists of embroidery and embellishments, the simple ladies carry purse has now taken the fashion world by storm. Perfectly complimentary with a saree, choli and even anarkali, the potli bag is now the most sought-after bag during Indian celebrations. The craze can be seen with every celebrity carrying designer potli bags and flaunting them away. 

Clutch Bag - Lets Box It
A clutch bag has come into the spotlight for its structured shape, eased utility, effortless manageability, and overpowering appeal. The clutch bag steals the show at every occasion, especially when in multi-coloured hues or single toned in gold or silver. Perfectly complimentary with semi-modern traditional wear such as salwar kameez, half saree, etc; one can buy clutches online from numerous designer stores. One can even get a clutch personalised to redefine their individual style statement.

Minaudiere - Tiny Royal Wonder
The most modern yet most un-apt bag that works wonders with traditional Indian outfits is the new age minaudière. The cute little royal wonder is the first choice of a true blue blood fashionista, that will take you from good to great. Perfectly complimentary with modern ethnic wear like saree gowns, cape sarees, lenghas, etc; a minaudière though a bit too small to fit in all that you may need is a great way to show off your personal style and strut like a pro. 

Do you agree with me? Let me know in the comments which are the types of bag you like to carry with your ethnic wear and why? 

Until next time, 
~ Heena 

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