Are you confusing Tax Planning with Financial Planning?

Sanjeev Govilla

Are you confusing Tax Planning with Financial Planning?

The tax season is upon us. We, and almost every financial advisory company in the country, receives numerous calls from people about the ‘the best’ tax-saving opportunity right now.

Somewhere tax saving is considered the best form of financial planning and in fact, all that is there to it. Is it so? Is your financial responsibility towards yourself and your family over with saving tax for the year?

May not be so.

This episode of Money Guru, telecast yesterday (5th Feb 2020) on Zee Business, deals with the aspect of Tax Planning Vs Financial Planning in comprehensive details. Our CEO, Col Sanjeev Govila (Retd), is the financial expert featured in the show explaining these aspects. The show covers the following aspects:-

1. Role of Tax Planning in your Financial Planning.
Understand the significance of financial planning for wiser tax planning that is in-sync with your life goals.

2. Life Goals for which Financial Planning is necessary.
Goal Planning for Life Protection considering the necessity and need for protecting your loves ones through Insurance for Life, Health and even term plan.

3. Power of Compounding and to how you can make Rs 3 Crore by allocating Rs 5000 each month.
Understand the categories of funds, risk appetite and the funds that are most appropriate as per your investor profile.

4. How to strike a balance between savings and investments in case of a new job or career shift? 
Understand the dynamics of Tax Saver Funds in your portfolio and how relevant it is for savings and investments in different life phases.  Similarly the scope of Small Cap, Mid Cap and Large Cap vis vis savings and investments.

Watch the complete video here,

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