Uneza Lakhani Talks About Important Reasons Why Financial Planning is Necessary?


Uneza Lakhani Talks About Important Reasons Why Financial Planning is Necessary?
Uneza Lakhani Talks About Important Reasons Why Financial Planning is Necessary?
Spread the love

Everyone talks about financial planning, but what exactly is it, and why is it important? To begin with, Uneza Lakhani defines financial planning as a technique used to manage money, financial goals, and objectives in the long term. Financial planning tells you how you should invest your money to meet your financial targets. Many people prefer hiring an investment advisor or a financial planner for this. So, why is financial planning so important? Uneza Lakhani UAE has shared some pointers on why financial planning is so important.

  • Income Management – The first and most important thing about financial planning is that it will help you manage your income. You will be able to save money for the future, and you will be able to get returns on the money you are saving. Without financial planning, you will not be able to save money, and you may even spend more than you have.
  • Higher Investment Returns – Without financial planning or financial literacy, you may not know about the different asset classes. In such a case, you may not be able to gain the returns you need to manage your risk. Uneza Lakhani tells us that during the investment planning, you will be informed about different assets and how much you should allocate to each of these assets.
  • Risk Management – The next important point here is risk management. If you hire a financial planner, they can help you understand your risk appetite. Depending on your risk appetite, the investment plan will be framed. Uneza Lakhani Dubai shared some cases where people parked all their money in stocks or in a fixed deposit which often led to wealth destruction. Your investment risk will be managed by opting for a professional financial planning service.
  • Inflation Risk – We all face inflation risk, but your financial advisor can help you ensure that you are getting higher returns than inflation. This is especially useful to ensure that your wealth stays relevant even after inflation. A good financial planner can help you manage inflation risk with minor changes to your portfolio.
  • Long-Term Goals – The next thing that Uneza Lakhani talks about is meeting the long-term goals. You may have goals like buying a home or trying to save funds for your child’s education. Financial planning can make all these things very easy for you. You will be able to save money, and you will be able to plan for the long-term goals that you have set for yourself.
  • Retirement – Uneza Lakhani also mentioned that financial planning could help you plan your retirement. With proper financial planning, you may even be able to retire before the planned age. Moreover, if you have proper funds in place, you will be able to enjoy your golden period without any financial difficulty.
  • Financial Security in Emergency – Last but not least is that financial planning will help you create an emergency fund that can come to your rescue during an emergency. This could be a medical emergency, job loss, or anything else which may require immediate funds. You will not struggle with financials if you opt for professional financial planning services.
See also  Revitalizing Fiscal Strategies: The Appointment of a New Member to the 16th Finance Commission

Conclusion:

Financial planning should be an integral part of our lives. If you have deep knowledge of finance, you can plan the financials yourself; however, if you lack time to manage the investment actively, you can opt for professional financial planning services where a financial advisor will manage the funds for you. This can be fruitful since you are taking the services of a professional to manage your portfolio. You can also contact financial executives like Uneza Lakhani for support and guidance.


Spread the love

Sikander Zaman
writing is my profession, doing this from long time. writing for many online websites one of them is scoopearth