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Valueraj Associates Private Limited

Personal Associates for your Personal Finances

Comprehensive Financial Plan

Comprehensive Financial Plan

Comprehensive Financial Plan

Comprehensive Financial Plan can be very detailed and complex to such an extent that it can turn off you to understand and follow it. That’s why we want to keep it easy to understand, simple to implement and feasible for regular reviews. We call it Practical Financial Plan.

As depicted above, we develop a sequence of various sub-plans referred below as part of the overall Practical Financial Plan, which gives a roadmap for setting your personal finances on right track.

Before going further, we recommend you to refer our “Methodology” page. It helps in better understanding of this solution towards financial progress of your life.

Insurance Plan

There are always some risks lurking around you such as death, disability and illness. These events can disturb your investment plan and make you fail in achieving your goals. To protect from these risks, this sub-plan spells out the details on insurance types and respective covers you must buy to overcome these risks. Implementation of this sub-plan helps you achieve Financial Security in life.

Contingency Plan

Even though you are adequately protected by insurance plan for known risks, there may arise some unknown risks/emergencies that need immediate money. These emergencies can make you liquidate your long-term investments in a hurry and thus cause a distraction in achieving your goals. This sub-plan spells out the corpus to be invested aside just for meeting any emergencies in future. Implementation of this sub-plan helps you achieve Financial Stability in life.

Investment Plan

Every person/family would have some financial goals like House Purchase, Car Purchase, Children’s Education, Loan Prepayment etc. This sub-plan spells out a strategy to utilize your current investments to achieve your goals. If there are any deficits, it specifies how much to invest and how long to invest to fill these deficits and achieve goals. Implementation of this sub-plan helps you achieve Financial Confidence in life.

Retirement Plan

Every person should be prepared for eventual retirement and aspire to maintain same life-style as is prior to retirement. This sub-plan spells out the amount of corpus required at the time of your retirement so as to generate post-retirement income. It specifies the ways and means to achieve the corpus and to generate income. Implementation of this sub-plan helps you achieve Financial Freedom in life.

Tax Plan

The Income Tax Act provides several avenues that offer taxpayers a host of exemptions, deductions and rebates that help reduce the overall tax liability. This sub-plan spells out suitable sections/deductions that you can avail for tax saving. Implementation of this sub-plan helps you in optimizing tax liability and takes care of your tax compliance.

For designing Practical Financial Plan, we follow the process standardized by FPSB (Financial Planning Standards Board). It comprises of steps that include (a) establishing the relationship with you (b) collecting all relevant data on your family finances and goals (c) analyzing the data (d) developing the financial plan (e) implementing the plan and (f) monitoring the progress regularly. The flow chart below depicts the process followed by us.

When it comes to execution of Practical Financial Plan, as we are only Mutual Fund Distributors, our capabilities are slightly limited. For implementation of Insurance Plan, we only recommend suitable Insurance policies for you to buy them at your choice, as we are not Insurance Brokers. For implementation of Contingency Plan, Investment Plan and Retirement Plan, we use our Goals-Based Investment Solution. For implementation of Tax Plan, you have to just follow our recommendations on availing exemptions, deductions and rebates.

For your better understanding about this solution, we attach below a real-life example on Practical Financial Plan of Mr. Mahesh Gupta and family. Treat them as sample data form and sample plan.

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