WHY DO YOU NEED A FINANCIAL PLANNER?

FINANCIAL planning is not a perfect science. In fact, the jury is out on whether it is a science or an art. Also most people say “my parents never did it, so I do not need it”.

- PV SUBRAMANYAM

MONEY-WISE

For most people who are not obsessed about large cap, small cap, midcap, goal setting, asset allocation and such things… it is as painful an experience as visiting the dentist. Some people may prefer a visit to the oncologist!

What happens is when a customer/client/potential client comes to meet a Financial Planner, the planner talks to the client somewhat like this:

Planner: Where do you work and how much do you earn?

C: About 50L is the gross salary between my wife and me, and our take home is ₹2L and ₹1L, respectively.

Now the planner who has a lower income thinks that the client should spend ₹1L pm and save ₹2L pm…and that 1L should include the EMI.