Planning is required by us in order to make things happen in the favorable way and this holds true for each and every aspect of our life. Starting from our daily routine and up to long term planning like planning for marriage of the kids and other important post job plans. There is a well said proverb in the English language that if you fail to plan then you plan to fail. We also know it very well that each and every thing which we need to have requires some money and with every plan there is a need to have a separate plan for the financial obligation or liabilities arising because of the root plan.
When I was studying a task to prepare a balance sheet for the life was allocated to all the class. Any balance sheet have two sides left side of any sheet compromises of assets that a person have and other side has the liabilities. While preparing a balance sheet for the life time we were allowed to consider our future incomes with a surplus of ten percent per annum as our assets and all the future liabilities were considered to be arrived with a fixed date. The biggest mistake all the students made was not to considered unplanned events to occur in the futures and were helpless to find the answers to any uncertain event that may happen in the future. Well purpose of stating this event here is to illustrate that life is a uncertain event and any financial planning may include this uncertainty in order to make this uncertain life a little bit certain.
Although it is possible to do financial planning by your self as you might have an idea of what you are going to have in the future but proper optimisation of all the present resources you have is very very very important and for this you may need to consult any financial advisor or financial planner. Any financial planner is a person that suggest the best possible investment plans to your assets in order to make them bigger. There are more then one ways to do so like investing money in different different ventures like investment in shares and debentures, in various trade options and in many other government investment plans. Many government investment plans allow certain amount of tax relaxation and few financial investments acts like tax shield to many of the enterprises or individuals.
Before asking consultation to any such financial planner or advisor be sure of your financial obligations you might have in the near future or in the far future. Any successful planning depends over the exact imagination of the future liabilities and obligations. Any financial advisor is very well aware of the fact that there is need to have surplus funds in the life as it is a highly uncertain venture and they often plan taking this fact in to the account. One more thing I want to share which is about a misconception there are primarily two basic reasons by which any person may seek financial planning Sydney either to plan his of her future financial obligations or to Increase the amount of the financial assets by seeking returns on the investment and both of these need separate strategies. While trying to secure the life it is important to invest in low risk ventures while neglecting the low return on investment values.