Financial planing approach is keeps on changing as per the needs and requirements of an individual or a family.
The needs and the requirement of an individual change as per their changes in life cycle and change in family structure.
There are normal situations in the life cycle which keeps on changing the needs and requirements.
These normal situations are as follows :
1. Young unmarried without responsibilities.
2. Young married couple with one working member.
3. Young married couple with both working.
4. Couple with newly born child.
5. Couple with growing children and loan.
6. Couple with working children.
7. Couple nearing retirement.
8. Retired.
But there are some situations which requires special approach.
1. Young unmarried with financial responsibilities.
2. Married with one member disabled.
3. Critically ill married couple. ( now a days such marriages are happening ).
4. Couple with physically challenged child.
5. Couple with critically ill child.
6. Couple without children.
7. Widow / widower with children responsibilities.
8. Divorcee with / without responsibilities.
So as the situation changes there is a change in approach for financial planning. In this series of articles we will be discussing about these different cases one by one.
So keep reading this approaches may be useful for you.
About the author :
Ashish Ramesh Bhave is a CERTIFIED FINANCIAL PLANNER, focused and specialized in financial planing for individuals and families.
The needs and the requirement of an individual change as per their changes in life cycle and change in family structure.
There are normal situations in the life cycle which keeps on changing the needs and requirements.
These normal situations are as follows :
1. Young unmarried without responsibilities.
2. Young married couple with one working member.
3. Young married couple with both working.
4. Couple with newly born child.
5. Couple with growing children and loan.
6. Couple with working children.
7. Couple nearing retirement.
8. Retired.
But there are some situations which requires special approach.
1. Young unmarried with financial responsibilities.
2. Married with one member disabled.
3. Critically ill married couple. ( now a days such marriages are happening ).
4. Couple with physically challenged child.
5. Couple with critically ill child.
6. Couple without children.
7. Widow / widower with children responsibilities.
8. Divorcee with / without responsibilities.
So as the situation changes there is a change in approach for financial planning. In this series of articles we will be discussing about these different cases one by one.
So keep reading this approaches may be useful for you.
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