a) Overall Financial Health Scorecard: A Scorecard is generated based on your awareness and capability to manage finances. This will further help us categorize you in an appropriate Hierarchy of Financial Freedom.
b) Current Income Expenses: Evaluation of your income/ expense section provides the current annual income and expenditure statement.
c) Current Balance Sheet: An individual’s balance sheet is provides an overview of assets across various classes. It provides an excellent-bird-view of individual’s financial situation and trends that are likely to develop in the future.
d) Capital Allocation: Your assets are broadly classified across four types of capital such us:
- Consumption - owned residence, gold, etc.
- Liquidity and Contingency - savings bank accounts, liquid plus funds,
- Goal Based Investments - ULIPS, child plans, retirement plans, PPF and EPF
- Wealth Building Investments – equity, mutual funds, real estate, private equity funds, real estate funds, etc.
e) Goal Driven Investments: This step indicates the goals that you have decided to achieve and your preparation towards achieving those goals.
Your report assess your financial health by taking into consideration your income, expenses and net worth (assets minus loans) and puts them into perspective when compared to your stated goals and objectives. Needs or deficiencies are identified, and recommendations are included to illustrate how you may improve your arrangements.
No comments:
Post a Comment