nectar solutions personal financial planning
TRANSCRIPT
Welcome to a session
From
Nectar Solutions
On
Financial,Insurance & Tax Planning
Nectar Solutions
FINANCIAL PLANNING&
NEED FOR INSURANCE
The Pre –
Dependency stage
Earning Stage
Peak Earning
Smoothening stage
Secondary Dependency
stage
Life Cycle
FINANCIAL PLANNING
PREDICTABLEEVENTS
UNPREDICTABLEEVENTS
Children’s educationMarriage
Life goals: retire early,buy property, travelaround the world etc.,Provision for old age
DisabilityCritical IllnessUntimely Death
PREDICTABLE EVENTS
Specific purpose knownTime frame is known
Budget is known
Can be achieved through
Planned & appropriate savings strategyImplications of not planning :
FINANCIAL STRESS
SAVING IS ONE AND ONLY TOOL
STARTING IT EARLY IS THE KEY
UNPREDICTABLE EVENTS
Event may happen any moment or
may not happen at all
Can be achieved through
Investing in protection Implications of not planning :
DISASTROUS FOR DEPENDANTS
THUS PROVIDE AND THE SOLUTION IS ONLY ONE THAT IS
INSURANCE
FINANCIAL PLANNINGBASE RULE
Provide for unpredictable eventsUnpredictable events can happen any
moment - Provide for them early
Save for predictable events We know when they are going to happen and what amount will be
required
Start early – have a long term view
Birth Death
Income
25 60
Unmarried
Young married with children
Pre retirement
Married with older children
Retirement
Age
Life Cycle & Income
Birth Death
Income
25 60
Provisionfor
insurance
Life Cycle & Insurance need
Age
Young married with children
Unmarried
Birth Death
Income
25c 60
Pre retirement
Married with older children
Retirement
Provision
for pension
Life Cycle & Pension need
45
Age
When Do I Start Saving for Pension ?
Protection planning
No financial dependants Financial
dependants
Pay off debtsHealth care expenses
Maintenance of dependantsPay off debts
Children’s future care
Factors Affecting Protection NeedsAge
DependantsIncome
Assets & Liabilities
Liabilities & Property
Savings
Investments
ProtectionDecreasing Priority
Most people prioritize investments this way
Whereas your priority should be
Protection: Life Insuranceagainst unpredictable events
Savings : Short TermSavings : Long term
Investments : Short & Long
TermLiability
& propert
y
Decreasing Priority
Who is your family depending on?
YOU are the basis for building of income and prosperity
YOUR income decides your family’s lifestyle
Life cycle planning is aimed at providing income without the family having to dip into capital assets
What is Human Life Value?
A economic loss to the dependents due to loss of life of the bread winner is
called as the HUMAN LIFE VALUE
What is my Human life value ?
Gross earnings : 300000/- per annum
Personal Expenses : 50000/- per annum
Net cash flow to my family : 250000/- per annum
IF MY FAMILY HAS TO RECEIVE THE SAME AMOUNT AFTER ME WHAT IS THE SUM THEY SHOULD HAVE ?
Considering a Bank Fixed deposit rate of 6% they should have
250000 / 0.06
= 4166000/-
So my human life value to my family is 41.66 lacs
In Summary
Prioritize your investments
Cover the financial loss that the family may be put to, at any time
Move from pure risk protection to savings to growth investments
Financial Planning Strategy
Protection Investment
Pension Savings
Why Financial Planning with Nectar Solutions
Realistic promises and need based solutions
Customised solutions Commitment to customer Superior service levels Quality of advice
ACTION PLAN
1. Personalized Financial, Insurance and Tax planning
2. Individual Assistance on One to One basis
Thank you,With Regards Prasad Ashok JoshiFinancial ConsultantContact No. 09822821995What’s Up 09145274224E-mail ID: [email protected] [email protected] Welcome to the world of smart investing!NECTAR Solutions - The smart way to plan your finances.