With a little help from Bajaj Capital, you too can give yourself the Financial Assessment edge!
Financial Assessment is a unique software-based simulation that takes a holistic view of your life-long financial needs and charts a personalized investment solution to help you meet them. Interested to know more, please get in touch with Bajaj Capital Relationship Manager.
Everyone does! Because, everyone has a right to dream. And realizing dreams is easier when you work towards it.
Here' is how Financial Assessment are prepared:
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The process begins with identifying your needs
- creating a personalized Snapshot.
- The Snapshot gives you a graphic account of all your financial requirements, at every stage of your future life.
- Based on the Snapshot, our Relationship Manager helps you to carry out scheme selection.
- Once you select the schemes, we help you in efficient execution
A Financial Assessment session takes just 15 minutes but gives you benefits of a lifetime.
A Relationship Manager works for you. His or her loyalty should be to the client, not the product(s) he is trying to sell. The Relationship Manager should be in a position to help you to invest in products that match your needs.
Have a budget. Determine what you actually spend each month. There are fixed expenses like rent, loan repayments, etc. every month about which we can do little. The variable items such as food, clothing and entertainment are often what get away from us. Use your discretion to contain these variable expenses to start saving.
It is hard to apply a rule of thumb toward savings, because it varies with age and income level. Ten percent is a good start. If you find that is too high for you, don't let that deter you. You can start by putting a little aside each month and then slowly increasing it.
Financial Assessment is a common sense approach to managing your finances to reach your life goals. It cannot change your situation overnight; it is a lifelong process. Remember that events beyond your control such as inflation or changes in the stock market or interest rates will affect your Financial Assessment results.
A Financial Assessment should include your goals and objectives, investment , cash flow, retirement , tax and insurance needs, to achieve the desired objective.
Evaluating your insurance needs is part of personal Financial Assessment. Insurance takes care of your unpredictable needs and as these needs can arise at anytime, insurance is extremely important.
It is important that Financial Assessment is tax efficient. The Financial Assessment should help you in minimizing your tax liability.