Importance of Financial Planning and Record Keeping of your Financial Documents : Date 12.09.2009
Aadil Kadri is a Manager - Advisory, Continental Financial Services. From humble beginnings as an average academic and struggling salesman, this Indian Professional Financial Advisor has clawed his way to the top of his profession. Aadil is a qualified and result oriented Certified Financial Planner (CFPCM) from Financial Planning Standards Board (FPSB) - India. He has a strong business acumen in advising Individual and Corporate Clients on securing their Financial future based on their personal and professional goals.
Yogita.khatri:024827 : Hello Sir... Good Evening... Welcome to myiris live chat...
aadil.kadri:025810 : Good Evening Yogita
aadil.kadri:025816 :
aadil.kadri:025829 : Good evening
Pahal:025836 : Why one should go for financial planning? Why is it so important? (Especially with regards to low income group people)
aadil.kadri:025916 : Good Evening
aadil.kadri:030221 : Hi Pahal : Financial Planning is important for your expected and unexpected needs of your life.
Mridula:030217 : Hello sir, please suggest some good software which we can use for keeping records.
aadil.kadri:030319 : It does not matter whether we have low income or otherwise
aadil.kadri:030609 : What i normally advise my clients to keep records in a simple excel sheet which can be understood by your beneficiaries.
Mridula:030732 : Sir, could you please tell me about the financial planning process which one should follow?
aadil.kadri:030918 : Basically there are 6 steps of Financial Planning which one has to follow
aadil.kadri:031234 : Normally i meet clients ... understand his needs and then recommend him/ her solutions depending upon his/her objectives.
Mridula:031225 : What are those 6 steps sir?
Saakshi:031720 : How can I plan for tomorrow when I can hardly pay for today?
aadil.kadri:031954 : As per CFP guidelines : 6 steps are Establishing relationship , identifying and understanding his goals, Analysing his current situation, proposing him the solution, implementing the plan proposed and finally keep reviewing the solutions given.
aadil.kadri:032140 : Financial Planning is a continuous process and not one time event. It has to be reviewed at different phases / situations of life.
aadil.kadri:032443 : Hi saakshi, What you don't have you don't miss .... but what you are used to you cannot do without it. I think you need to see some Financial Planner who will help you to come out of the present situation.
naresh:032629 : What type of information do I have to provide to my financial planner for records keeping?
aadil.kadri:032910 : Saakshi ... I have not seen anyone going bankrupt by planning for tomorrow .... but yes i have seen lot of individuals who have not planned for tomorrow. I am sure a good Financial Planner will certainly help you.
aadil.kadri:033038 : There is a saying .... Do let your Doctor, Lawyer and Financial Planner know each and everything relating to the subject.
Manohar:032834 : Should children be also taught to do financial planning? If yes, should fiancial planning workshops be introduced in schools, at primary, seconday
aadil.kadri:033437 : Do let your Financial Planner know Financial related information i.e your existing insurance / investment plans.
aadil.kadri:033647 : Naresh ... This will help your financial advisor understand your mind set about money.
Dharmesh:033632 : What about people who belong to non-finacial background, like arts, science, medicine? How can they do financial planning? Should they seek services of professionals? Are the servcies of professionals affordable to ppl falling in low income groups?
aadil.kadri:034033 : Manohar .... Very Good point. In fact Sart talking to childrens about Financial Planning and its importance from age around 10 -12. Schools does teach about money but they do not teach how to make money with money.
aadil.kadri:034341 : Financial Planning is needed for every individual and best would be to hire a services of certified financial planner. The services of financial professionals are quite affordable.
Sonali:034516 : Did ppl start considering financial planning after `Rich Dad Poor Dad` got published? Was that bestseller and eyeopener for ppl about the need for financial planning?
aadil.kadri:034721 : It is like this ... if i am not well i will take an advise of a Doctor ... and i don't mind paying him the fees. Similarly if a doctor needs to manage his money ... he should approach a certified financial advisor.
Priyanka:034925 : Why should I spend time organizing and keeping my financial records?
aadil.kadri:035221 : Rich Dad poor Dad gives you some of the aspects of Financial Planning ... but it totally depends on case to case basis what is his risk appetite, goals and aspirations in life. One should not only follow the book because books does not know the present circumstances, assets , liabilities etc. of an individual.
Kothari:035513 : How long to I have to keep copies of my income tax returns? How long should I keep my tax records?
aadil.kadri:035607 : Priyanka : Keeping yourself organised with your financial records gives you a PEACE OF MIND. You are making the life of a person who are your beneficiaries EASY if you have kept good and uptodate Financial Records.
aadil.kadri:035654 : 7 years are the idle time to keep records of your Income Tax papers.
yogita.khatri:035756 : That is the end of chat session. Thank you for your time sir. Nice to have you on our live chat session...
aadil.kadri:035914 : But for all other documents 5 yrs are good enough depending upon the usage of financial documents.i.e Medical records : Keep it for Life time.
aadil.kadri:040036 : Thanks a lot Yogita.
yogita.khatri:035733 : We thank Mr. Aadil Kadri for answering all of your questions. Thank you all for participating in the live chat. We welcome you all to our future chat sessions.
Yogita.khatri:040227 : Thanks once again. Have a good day sir…
That is the end of the chat session for today.
Thank you all for logging in.
Till then its bye from us.
Aadil Kadri is a Manager - Advisory, Continental Financial Services. From humble beginnings as an average academic and struggling salesman, this Indian Professional Financial Advisor has clawed his way to the top of his profession. Aadil is a qualified and result oriented Certified Financial Planner (CFPCM) from Financial Planning Standards Board (FPSB) - India. He has a strong business acumen in advising Individual and Corporate Clients on securing their Financial future based on their personal and professional goals.
Yogita.khatri:024827 : Hello Sir... Good Evening... Welcome to myiris live chat...
aadil.kadri:025810 : Good Evening Yogita
aadil.kadri:025816 :
aadil.kadri:025829 : Good evening
Pahal:025836 : Why one should go for financial planning? Why is it so important? (Especially with regards to low income group people)
aadil.kadri:025916 : Good Evening
aadil.kadri:030221 : Hi Pahal : Financial Planning is important for your expected and unexpected needs of your life.
Mridula:030217 : Hello sir, please suggest some good software which we can use for keeping records.
aadil.kadri:030319 : It does not matter whether we have low income or otherwise
aadil.kadri:030609 : What i normally advise my clients to keep records in a simple excel sheet which can be understood by your beneficiaries.
Mridula:030732 : Sir, could you please tell me about the financial planning process which one should follow?
aadil.kadri:030918 : Basically there are 6 steps of Financial Planning which one has to follow
aadil.kadri:031234 : Normally i meet clients ... understand his needs and then recommend him/ her solutions depending upon his/her objectives.
Mridula:031225 : What are those 6 steps sir?
Saakshi:031720 : How can I plan for tomorrow when I can hardly pay for today?
aadil.kadri:031954 : As per CFP guidelines : 6 steps are Establishing relationship , identifying and understanding his goals, Analysing his current situation, proposing him the solution, implementing the plan proposed and finally keep reviewing the solutions given.
aadil.kadri:032140 : Financial Planning is a continuous process and not one time event. It has to be reviewed at different phases / situations of life.
aadil.kadri:032443 : Hi saakshi, What you don't have you don't miss .... but what you are used to you cannot do without it. I think you need to see some Financial Planner who will help you to come out of the present situation.
naresh:032629 : What type of information do I have to provide to my financial planner for records keeping?
aadil.kadri:032910 : Saakshi ... I have not seen anyone going bankrupt by planning for tomorrow .... but yes i have seen lot of individuals who have not planned for tomorrow. I am sure a good Financial Planner will certainly help you.
aadil.kadri:033038 : There is a saying .... Do let your Doctor, Lawyer and Financial Planner know each and everything relating to the subject.
Manohar:032834 : Should children be also taught to do financial planning? If yes, should fiancial planning workshops be introduced in schools, at primary, seconday
aadil.kadri:033437 : Do let your Financial Planner know Financial related information i.e your existing insurance / investment plans.
aadil.kadri:033647 : Naresh ... This will help your financial advisor understand your mind set about money.
Dharmesh:033632 : What about people who belong to non-finacial background, like arts, science, medicine? How can they do financial planning? Should they seek services of professionals? Are the servcies of professionals affordable to ppl falling in low income groups?
aadil.kadri:034033 : Manohar .... Very Good point. In fact Sart talking to childrens about Financial Planning and its importance from age around 10 -12. Schools does teach about money but they do not teach how to make money with money.
aadil.kadri:034341 : Financial Planning is needed for every individual and best would be to hire a services of certified financial planner. The services of financial professionals are quite affordable.
Sonali:034516 : Did ppl start considering financial planning after `Rich Dad Poor Dad` got published? Was that bestseller and eyeopener for ppl about the need for financial planning?
aadil.kadri:034721 : It is like this ... if i am not well i will take an advise of a Doctor ... and i don't mind paying him the fees. Similarly if a doctor needs to manage his money ... he should approach a certified financial advisor.
Priyanka:034925 : Why should I spend time organizing and keeping my financial records?
aadil.kadri:035221 : Rich Dad poor Dad gives you some of the aspects of Financial Planning ... but it totally depends on case to case basis what is his risk appetite, goals and aspirations in life. One should not only follow the book because books does not know the present circumstances, assets , liabilities etc. of an individual.
Kothari:035513 : How long to I have to keep copies of my income tax returns? How long should I keep my tax records?
aadil.kadri:035607 : Priyanka : Keeping yourself organised with your financial records gives you a PEACE OF MIND. You are making the life of a person who are your beneficiaries EASY if you have kept good and uptodate Financial Records.
aadil.kadri:035654 : 7 years are the idle time to keep records of your Income Tax papers.
yogita.khatri:035756 : That is the end of chat session. Thank you for your time sir. Nice to have you on our live chat session...
aadil.kadri:035914 : But for all other documents 5 yrs are good enough depending upon the usage of financial documents.i.e Medical records : Keep it for Life time.
aadil.kadri:040036 : Thanks a lot Yogita.
yogita.khatri:035733 : We thank Mr. Aadil Kadri for answering all of your questions. Thank you all for participating in the live chat. We welcome you all to our future chat sessions.
Yogita.khatri:040227 : Thanks once again. Have a good day sir…
That is the end of the chat session for today.
Thank you all for logging in.
Till then its bye from us.
