Perta Thomson Partners

Every individual needs to realise the importance of financial planning in their life. With sound financial planning, they will be better prepared to tackle any financial roadblocks that may crop up at any stage of their personal or professional life. What are the Benefits of Financial Planning?  Income Management  Resourceful management of your income is one of the biggest benefits of financial planning . Better allocation of resources for the monthly expenditure and creating a savings kitty for the future are two major outcomes of resourceful income management. Smooth Functioning of Daily Operations Analysing spending habits, prioritising expenditures, and budgeting are the major components of financial planning . These help you to meet your varied commitments as and when they arise. Financial planning thus helps to ensure the smooth functioning of day-to-day operations in your business and private life.   Wise Investment Plans A good financial plan considers your f...

Retirement financial planning is often overlooked because people tend to think about it at the last minute. A lot of people only start thinking about how they will arrange for their retirement when the moment has arrived. Even though you may not want to think about your retirement, it’s something that you need to pay attention to from an early age in order to set yourself up financially for later on in life. Here are four tips on financial planning for retirement. Make a budget – The only way that you can figure out how much you can really afford is to budget. You should always make a budget before you set out to make any financial decisions. This is important because it gives you a guideline to follow and will help you avoid spending too much money. Save for retirement – People often say that it’s better to start early than late when it comes to investing for retirement. This is generally true, but you shouldn’t put too much pressure on yourself. You should always start saving for r...