Question 1

What is financial goal planning?

Accepted Answer

Financial goal planning is the process of determining how much money you need to save and invest to achieve specific future milestones like buying a home, funding education, marriage, or vacation.

Question 2

How do I set realistic financial goals?

Accepted Answer

Set SMART goals: Specific (education for kids), Measurable (Rs. 25 lakhs), Achievable, Relevant, and Time-bound (10 years). Prioritize goals, account for inflation, and align with your income and risk tolerance.

Question 3

What is inflation impact on future goals?

Accepted Answer

Inflation erodes purchasing power. At 6% inflation, Rs. 10 lakhs today will cost Rs. 17.9 lakhs in 10 years. When planning goals, always account for expected inflation to calculate the true amount you'll need.

Question 4

How should I prioritize my financial goals?

Accepted Answer

Prioritize by urgency and importance: (1) Emergency fund, (2) Insurance, (3) High-priority goals (kids' education), (4) Medium goals (home), (5) Aspirational goals (vacation). Align with timeline and allocate investments accordingly.

Question 5

What investment strategy works best for goal planning?

Accepted Answer

Match strategy to goal timeline: Long-term (10+ years) - 70-80% equities; Medium-term (5-10 years) - 50% equities; Short-term (< 5 years) - debt/stable funds. Start early to benefit from compounding.

Goal Planner

Awaiting inputs

Be part of a trusted platform built on clarity and support