Financial Planning is an ongoing process to help you make sensible decisions about money that can help you achieve your goals in life; it's not just about buying products but beyond that.
It might involve putting appropriate wills in place to protect your family, thinking about how your family will manage without your income should you fall ill or die prematurely, spending money differently, but it involves thinking about all of these things together i.e. your 'plan'. You can build a plan with the help of a Financial Planner.
Education | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
IIM - A | 19.50 LAC | 34.92 LAC | 62.53 LAC |
IIT | 25.00 LAC | 44.77 LAC | 80.17 LAC |
MBBS | 50.00 LAC | 89.54 LAC | 1.60 CR |
CAR TYPE | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
MARUTI SWIFT | 6 LAC | 10.74 LAC | 19.24 LAC |
I20 | 8.50 LAC | 15.22 LAC | 27.26 LAC |
HONDA CITY | 12.00 LAC | 21.49 LAC | 38.48 LAC |
ESSENTIAL GOODS | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
SALT | 17 RS PER KG | 30 RS | 55 RS |
PULSE | 130 RS PER KG | 233 RS | 417 RS |
WHEAT FLOUR | 240 RS PER 5 KG | 430 RS | 770 RS |
MILK | 52 RS PER LTR | 93 RS | 167 RS |
MEDICAL EXP | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
CONSULTATION | 600 RS | 1075 RS | 1924 RS |
HOSPITALIZATION | 3500 RS | 6268 RS | 11225 RS |
MEDICINE | 1500 PER MONTH | 2686 RS | 4811 RS |
HEART OPERATION | 3.00 LAC | 5.37 LAC | 9.62 LAC |
PROPERTY TYPE | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
2 BHK METRO | 50.00 LAC | 89.54 LAC | 1.60 CR |
3 BHK METRO | 1.00 CR | 1.79 CR | 3.20 CR |
2 BHK NON METRO | 30.00 LAC | 53.72 LAC | 96.21 LAC |
3 BHK NON METRO | 65.00 LAC | 1.16 CR | 2.08 CR |
MARRIAGE | TODAY'S COST | AFTER 10 YEARS | AFTER 20 YEARS |
---|---|---|---|
METRO | 30.00 LAC | 53.72 LAC | 96.21 LAC |
NON METRO | 20.00 LAC | 35.81 LAC | 64.14 LAC |
*Data is for references only, considering 6% inflation. All figure are in INR.
The process of financial planning should help you answer three questions :
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