ithoughtplan Profile picture
Feb 9 8 tweets 6 min read
Just a month into the new year and we already see some new myths floating around Financial Planning.

In this thread, we aim to debunk some of these myths & take a look at how financial planning can help you, the reader! (1/n)

#financialplanning #FinancialFreedom #MythVsFacts
Myth #1 Financial Planning is Only for Rich People

At their core, a good Financial Planner helps YOU achieve YOUR GOALS. Everyone has goals, not just rich people.

A good financial plan will help map your goals & help make your 'plan' a reality. (2/n)

Myth #2 I am too old/ too young for a Financial Plan

Age is no bar. You are never too young or too old to have a proper financial plan in place. Planning can help people build wealth over a period. (3/n)

#FinancialFreedom #financialplanner #retirementplanning
Myth #3 Just Plan Once & It's Done!

Your needs and desires can change over time. And with that, so will your plan.

Your Financial Plan needs to be designed in such a way that it accommodates such changes. (4/n)

#planforthefuture #financialgoals
To achieve this, a proper review of your plan is needed at least once a year.

This allows you to track your goal progress, as well as any other changes that are required to get you back on track. (5/n)

#investmentreview #financialgoals
Myth #4 Financial Planning is Not Worth the Cost

A good financial plan is worth its weight in gold.
It can help you save the cost of making the wrong decision and locking your money into bad investments such as ULIPs and money-back policies. (6/n)

#insurance #ULIPs
Planning gives you direction and lays out your options. You can allocate money responsibly by determining and prioritizing your goals. (7/n)

#retirementplanning #financialplanning #FinancialFreedom
If you find this thread useful, retweet it and help us reach more people like you. (8/n)

#financialplanning #financialgoals #FinancialFreedom #finances #savings #personalfinance

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with ithoughtplan

ithoughtplan Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ithoughtplan

Nov 14, 2022
To all of you who are new to the workforce… Congratulations!!! You have secured your first job.

But are you confused about how to best use your current salary? (1/n)

#salary #cashflow #payday #money
Most people complicate things. It is only natural when there are so many investment products to choose from. That need not be the case.

Here are some simple tips for someone just starting! (2/n)

#equity #fixedincome #gold #realestate
#1 Start Building an Emergency Fund

This should be your first priority. In case of emergencies, you shouldn't be left empty-handed.

Having 3-6 months of expenses set aside will be optimal. (3/n)

#emergencyfund #savings
Read 16 tweets
Oct 31, 2022
Have you ever wondered how much you need to save for your retirement? Ever wonder if you will make it or fall short?

Over 600+ clients have benefited from our Financial Planning engagement!

Here are FIVE ways financial planning can help you! (1/13)

Before we begin, financial planning is a very personalised process. Every person's need is different. That is why we aim to craft tailor-made financial plans to meet each individual's needs. (2/13)

#financialplanning #personalfinance #savingstips
#1 Achieving Your Goals

Managing your finances in a way through which we can help you meet your goals is the crux of the planning process.

Proper planning can help you accomplish goals that you thought were far out of reach! (3/13)

#financialplanning #financialgoals
Read 13 tweets
Oct 26, 2022
Have you bought a car on the occasion of Diwali?🧨 While purchasing a car is an enjoyable process, choosing the correct insurance often becomes confusing.

Here is a short #thread on 7 things you should consider before buying #CarInsurance. (1/n)
#1 Should you take insurance from the tie-up dealer or with an outside agent?

Insurance from the dealership is often more expensive than when individually purchased. The reason is the dealer passes on the commission received on selling #insurance to the customer. (2/n)
✅What You Can Do: A prudent thing to do would be to check outside before going ahead with your dealer. This can also help you to negotiate better prices with your dealership. Policy bazaar is a great place to compare quotes from different insurance providers. (3/n)

Read 14 tweets
Apr 19, 2022
Travel is back on the table! With restrictions easing off, most of us are now determined to plan our next exotic vacation.

We have our bucket lists ready, a list of places to see, things to do, and cuisines to savour. But what about insurance? (1/8)

#insurance #travelinsurance
Travelling on a budget is not easy. We know from practice that we need to set aside money for unforeseen expenses. But, when travelling to a foreign land, could we take an extra step to be a little more prepared? (2/8)

#travel #financialplanning
Why should you take travel insurance? It safeguards the interests of the travellers on foreign land.

Imagine falling sick, meeting with an accident, or even losing your luggage & passport. As glum as it may sound, it is essential to prepare for emergencies. (3/8)

Read 8 tweets
Feb 13, 2021
What are the objectives of #lifeinsurance?
Why is #lifeinsurance important?
How much #lifeinsurance do I need in India?
Read 7 tweets
Jan 19, 2021
Smriti was always an organised person, yet her finances were all over the place!
#Tax was her nemesis.
Paid more #TDS than required
Rushed her tax saving investments
This time on Essence of Planning, we’re showing you how financial planning changed Smriti’s life for good!
She started by preparing a #Financial checklist of things review financially. How many things have you crossed off? Comment your answer below!
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!