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Why financial planning?

Each individual has Dreams. A goal is a dream with a plan and a deadline

Each of your Goals in life would have a financial implication.

Hence, you would also need financial planning to achieve your Dreams be it an expensive vacation, owning a house, buying a car, your child attending a world class educational institution or building a corpus for retirement.

Financial planning

Contrary to popular belief, financial planning is not just investing. It is a process. It allows you to manage your finances in such a way that you link it to your goals. Financial Planning is a solution which converts your goals into action plans and provides the direction and discipline to achieve these goals.

Always remember "In the beginning of your career you will work for money, but after few years your investments will work for you” and We plan for it.

The Process of Financial Planning should help you answer three questions.
  • 1. Where you are today? Your current personal Balancesheet
  • 2. Where do you want to be tomorrow? Finances linked to your Goals
  • 3. How you will get there? The Asset allocation and Investment Strategy that will help you achieve your Goals

At NIMIT Wealth Management, we help you answer all 3 questions.

Financial planning is a journey not a destination..! So let us guide you through “Your Way to Wealth” .

Financial planning could help you:
  • Categorise your risk appetite
  • Put a number to your goals (what is achievable and what looks difficult)
  • Map your current and future cash flows to your financial goals
  • Map your existing assets to your financial goals
  • Make a statement of your net worth
  • Look at the adequacy of your insurance
  • Help you build a corpus for your retirement
  • Make recommendations for your portfolio
Why Retirement planning?

Retirement is an important reality for everyone. Most young people think retirement is a long way off. However, it is important to plan for your life post-retirement if you wish to retain your financial independence and maintain a comfortable standard of living when you are no longer earning.

Retirement Planning

A financial plan and retirement plan work together with each other. A financial plan helps you prepare for the life you want to live during your working years, and a retirement plan helps you prepare for the life you want after you retire. Whether you’re already retired, nearing or still have a long way to go to, there is a complex challenge of outliving your savings. Therefore, retirement planning is a key financial objective that you must opt for. The planning should cover your present lifestyle, prolonged existence, inflation, asset allocation, withdrawal rate, healthcare and so on, to ensure that your income lasts throughout your lifetime.

Retirement planning could help you:
  • Benefit from the returns on reinvestment – compounding effect
  • Plan for unforeseen expenses
  • Safeguard property and assets
  • Deal with transitions smoothly
Why Insurance?

The problem is that, in most cases, the expenses incurred after an accident, the death of a loved one, or a disability are beyond any savings or wealth that a person may have accumulated and it is for this reason that insurance is such an important component of your financial planning.

Different types of insurance protect you and your loved ones in different ways against the cost of accidents, illness, disability, and death.

We buy a cover to protect our Smart phone. Isn’t it Smart to buy Insurance for our Life and Health?

Our Life Insurance Analysis Report (LIAR– click to download sample report)   will give you an insight of your current insurance scheme deficits and adequacy of the life insurance held by you.

Insurance is such a thing that you need it most, when you don’t have one..!

At NIMIT Wealth Management we help you ascertain an insurance policy as per your specific needs.

Why Estate Planning?

For many people, it seems like they devote more time to planning a vacation or where to eat dinner than they do deciding who will inherit their estate. Sure, estate planning isn’t as fun as booking a trip or checking out restaurant reviews, but without it, you can’t choose who gets everything that you worked so hard for.

Estate planning isn't only for the rich. Without a plan in place, there could be a long-lasting impact on your loved ones, even if you don’t have a pricey home, large investment account or valuable art to pass on.

Estate Planning

Your estate is the combination of everything you own — your home and other real estate, current and savings accounts, investments, life insurance, car, furniture, personal possessions and so on. Estate planning fulfills your wishes by making a detailed plan of the division of your estate in advance (who, what, when, how and how much), amongst the ones you want to give after your demise. It protects your assets from going into the hands of unintended beneficiaries like your relatives, protects families with young children who are not ready to take the ownership and most importantly eliminates the family mess after your demise. However, estate planning is much more than just physical assets and also includes:

  • Name of the guardian and inheritance manager for minor children
  • Instructions for your care if you become disabled before you die
  • Protection of the loved ones during unexpected and unfortunate events of their lives
  • Minimize taxes, court costs and unnecessary legal fees
Estate Planning could help you
  • Ensure property goes to the right beneficiaries
  • Safeguard property and assets
  • Ease the burdens of your family

We believe one should pay taxes for the betterment of our Nation.

Tax Planning means making plans with specific purpose to ensure the availability of maximum benefits to the investor through correct selection of investment, making suitable programme for replacement of assets.

Proper tax planning is the basic duty every person should carry out religiously. We help you compare the advantages of several tax saving schemes and depending upon your age, tax slabs and personal preferences, decide upon a right mix of investments, which shall reduce your tax liability.

We believe that every penny saved is a penny earned.

We Do The Right Thing For Our Customers. Just Like You Do For Your Employees.

NIMIT Wealth Management FOR CORPORATE enables you to help employees plan their financial goals and be retirement ready. We interconnect various aspects of an employee’s financial life and help them achieve their goals.

Employees admit that financial worries have impacted their health, relationships, productivity, and time away from work.

NIMIT Wealth Management helps reduce financial stress by enabling employees to take control of their financial life.

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