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Answers Financial Planning Pvt. Ltd

Nasik, Nashik, Maharashtra

| GST  27AAJCA8057B1ZQ

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Answers Financial Planning Pvt. Ltd - Service Provider of financial planning service, mutual fund service & equity and derivatives service in Nashik, Maharashtra.

Nature of Business

Service Provider

Legal Status of Firm

Limited Company (Ltd./Pvt.Ltd.)

GST Number

27AAJCA8057B1ZQ

Financial Planning Service
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A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, childrens education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.

Having a financial plan is like having a travel plan - it identifies where youre going, how and when youll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life.

Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much of trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience of the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.

Do you need financial plan?

Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepared for it. An effective financial plan will make sure that you are financially prepared to deal with the unexpected events and stormy times. If you dont have one, youre more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met. A good financial plan can alert you to changes that must be made to make sure a smooth transition through lifes financial phases, such as decreasing spending or changing asset allocation.

By developing a financial plan you and your family:

    Will have a better understanding of your current financial position.
    Determine attainable retirement, education, insurance, and other financial goals.
    Review goals, funding strategies, and alternatives to balance all goals.
    Have the necessary financial resources set aside to fund your goals as they occur.
    Reduce the effects of unexpected events such as disability, premature death etc.


You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavorable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyze your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.

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Mutual Fund Service
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Mutual Fund Service

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Mutual funds are a type of certified managed combined investment schemes that gathers money from many investors to buy securities. There is no such accurate definition of mutual funds, however the term is most commonly used for collective investment schemes that are regulated and available to the general public and open-ended in nature. Hedge funds are not considered as any type of mutual funds.

Mutual funds are identified by their principal investments. They are the 4th largest category of funds that are also known as money market funds, bond or fixed income funds, stock or equity funds and hybrid funds. Funds are also categorized as index based or actively managed.

In a mutual fund, investors pay the funds expenditure. There is some element of doubt in these expenses. A single mutual fund may give investors a choice of various combinations of these expenses by offering various different types of share combinations.

The fund manager is also known as the fund sponsor or fund management company. The buying and selling of the funds investments in accordance with the funds investment is the objective. A fund manager has to be a registered investment advisor. The same fund manager manages the funds and has the same brand name which is also known as a fund family or fund complex.

As long as mutual comply with requirements that are established in the internal revenue code, they will not be taxed on their income. Clearly, they must expand their investments, limit the ownership of voting securities, disperse most of their income to their investors annually and earn most of their income by investing in securities and currencies.

Mutual funds can pass taxable income to their investors every year. The type of income that they earn remains unchanged as it gets transferred to the shareholders. For e.g., mutual fund distributors of dividend income are described as dividend income by the investor. There is an exception: net losses that are incurred by a mutual fund are not distributed or passed through fund investors.

Mutual funds invest in various kinds of securities. The various types of securities that a particular fund may invest in are mentioned in the funds prospectus, which explain the funds investments objective, its approach and the permitted investments. The objective of the investment describes the kind of income that the fund is looking for. For e.g., a "capital appreciation" fund generally looks to earn most of its returns from the increase in prices of the securities it holds rather than from a dividend or the interest income. The approach of the investment describes the criteria that the fund manager may have used to select the investments for the fund.

The investment portfolio of a mutual funds investment is continuously monitored by the funds portfolio manager or managers who are either employed by the funds manager or the sponsor.

Advantages of Mutual funds are:

    Increase in diversification.
    Liquidity on a daily basis.
    Professional investment management.
    Capacity to participate in investments that may be available only for larger investors.
    Convenience as well as service.
    Government oversight.
    Easier comparison

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Equity And Derivatives Service
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When we buy equities, we start looking at the price next day or next week. For many who call themselves investors,ong run is 1 month. But do you think the management of the business of which we buy shares really looks at their business growth in such a short period.In equities, the rule of Farming applies. This basic rules states that -

 

  1. Keep watering it for it to grow.
  2. Wait for some time with patience.
  3. With passage of time, you will get fruits of your hard work and patience.

But when it comes to equities, we think that HAATHON MEIN HI SARSO UGTI HAI. We want good return in short time. How many of us really think of equities for long horizon? We keep Gold for generations. Grandparents go for bank fixed deposits for their grandchildren, but no one invests in share of banks, say HDFC Bank for their kid's marriage. And, no one plans to invest in equity mutual fund for their retirement.


Fundamental Investing & Speculation

Equity give you two kind of return, one is speculative and another is fundamental growth. 95% of the investors in shares are here for speculative gain, that is gain from the short term price movement of shares. They start TIMING THE MARKET rather giving TIME IN THE MARKET. This approach for short term gains is the real cause of loss. Investment for long run is not only rewarding but also beats inflation by a good margin and creates wealth. Now think of Indian business or Indian Economy for next month, you will be clueless but think of it for next 5 years, 10 years. We know that you are aware of the answer.


Risk Involvement

Now people call equity risky. Unfortunately risk is not understood by many investors. In short run, risk is in volatility of price of underlying asset i.e., how much it can rise and fall given a period of time. But in long run risk is not volatility but the risk is to maintain the purchasing power of your money. Look at the price of petrol in last 30 years (in below chart) and then compare it with your return in FDs, Gold, Endowment or Money Back Plans. Why people don't make money in Equities?


Just to give you comparison how equities have delivered returns over last 30 year, look at the graph below. The graph shows you how Rs. 100 invested in different asset class fared over last 30 years ending March 31st 2010.

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Fixed Deposit Service
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Fixed Deposit Service

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Fixed Deposit aka term deposit is an instrument by which one can deposit his/her savings for a prescribed period of time with a bank. When the period of deposit elapses, the depositor is entitled to the interest on the deposited amount. In some cases, the rate of interest on fixed deposits can be as high as 9.5%!

 

How to do it?

All you got to do is deposit your savings in a bank account of your preference and watch your money grow over time. Do remember to check with multiple sources regarding the various options available. There are a wide range of fixed deposit products available to suit a wide range of investor preferences. So choose the one that matches closely with your investment goals.


The Bankers View:

For banks, fixed deposits (or term deposits) represent a loan arrangement. In simple terms, the money deposited through such investments shall earn a said amount as interest, as per the existing norms and guidelines as set by the banking regulatory authority. The rate of interest on your fixed deposit is determined by many factors such as the location of deposit, the duration for which the amount is deposited as also the currency involved for making the deposit.


The Investors Take:

For starters, a fixed deposit is not a normal deposit that you do at your bank and then withdraw it as and when you please. But, it is a deposit that cannot be withdrawn in the specified period. Generally, these types of deposits are made for duration of 5 years. During this time, the amount remains in your bank account and is prohibited to be withdrawn for any reason whatsoever. Non-profit organizations, corporate entities and individuals alike, who wish to keep aside a stipulated sum for a particular period of time, most often than not, find that such deposits are the easiest way in attaining their objective. The icing on the cake is their money will earn a rate of interest that is shielded by any fluctuations in the interest rates that governs other type of investments. Such deposits are a good (if not the best) way to gain a return on investment which is a tad higher than a conventional savings account.


Trust Deposits:

Deposits that are made "in the name of one person, as trustee for another" are branded as "trust deposits."


Trust deposits are made for three basic reasons:
  1. Pose for the disposition of a domain after demise sans the use of a will or administration,
  2. Hide from others info of financial standing, or
  3. Escalate deposits where a prescribed limit is set upon single deposits.

Lastly, fixed deposits offer investors a relatively safe avenue for parking their funds, albeit at the risk of earning a slightly lower return on investment. At the end of the day, it is up-to the individual investor to decide for themselves whether they wish to pursue a high return-high risk approach or a relatively lower but largely safe investment approach.


Types of Companies offering Fixed Deposits
  • Financial Institutions
  • Non-Banking Finance Companies (NBFCs).
  • Manufacturing Companies
  • Housing Finance Companies
  • Government Companies
Features and Benefits
  • Company Fixed Deposits offer comparatively higher returns than banks.
  • Choose the best tenure for you from a wide range as per your convenience.

 

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Insurance Service
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Insurance Service

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Insurance provides financial protection against a loss arising out of happening of an uncertain event. A person can avail this protection by paying premium to an insurance company.

A pool is created through contributions made by persons seeking to protect themselves from common risk. Premium is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool.

Insurance works on the basic principle of risk-sharing. A great advantage of insurance is that it spreads the risk of a few people over a large group of people exposed to risk of similar type.

Definition

Insurance is a contract between two parties whereby one party agrees to undertake the risk of another in exchange for consideration known as premium and promises to pay a fixed sum of money to the other party on happening of an uncertain event (death) or after the expiry of a certain period in case of life insurance or to indemnify the other party on happening of an uncertain event in case of general insurance.

The party bearing the risk is known as the insurer or assurer and the party whose risk is covered is known as the insured or assured.

Concept of Insurance / How Insurance Works

The concept behind insurance is that a group of people exposed to similar risk come together and make contributions towards formation of a pool of funds. In case a person actually suffers a loss on account of such risk, he is compensated out of the same pool of funds. Contribution to the pool is made by a group of people sharing common risks and collected by the insurance companies in the form of premiums.

WHY SHOULD I BUY INSURANCE?

All assets have some economic value attached to them. No person can deny that there is also a possibility that these assets may get damaged/destroyed or become non-operational due to risks like breakdowns, fire, floods, earthquake etc. Different assets are exposed to different types of risks like a car has a risk of theft or meeting an accident, a house is exposed to risk of catching fire, a human is exposed to risk of death/accident. Insurance is needed because of following reasons:

Social Security Tool

Insurance acts as an important tool providing a sense of security to the society on a whole. It is the right of every human-being to have basic amenities like food, clothing, housing, medical care, standard of living necessary for his personal and family is well being, and right to security in case of unemployment, disability, sickness or any other circumstances out of his control.

In case the bread earner of a family dies, the family suffers from direct financial loss as family is income ceases. As a result, family is economic condition gets affected unless there are other arrangements to rescue the family from this situation. Life insurance is one alternate arrangement that offers some respite to the family from financial distress. Otherwise this family would have been pushed into the lower strata of the society, which would be an additional cost to the society. This is because subsidies would have to be given to the family so as to enable it to survive and enjoy the basic rights at par with other people. Moreover, a poor family is generally seen to have a large family size with family members being illiterate. This on a whole affects the society and is a cost to the society. Therefore, insurance compliments the state in social management efforts.

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