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Financial Planning Objectives

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At some point in our mid-twenties, we all wake up, go to work, and pour our minds and hearts into it. And then, we end up doing that for the next thirty to forty years of our lives. We pursue this path to have a secure life, but our immediate focus shifts from that security to career growth and personal development. One of the key objectives of strategic financial planning is to bring back the focus on that security when we’re so caught in the present.

Now, in this article, we will explore the key objectives of financial planning like securing our financial foundation, creating wealth, and ensuring a comfortable retirement. By the time you reach the end, you will have learned why it’s better to have a financially planned future!

Achieving Financial Security

Feeling financially secure is one of the most basic needs of our lives these days. The cost of living is on the rise and so is healthcare and education. 

To attain financial security, we need to plan our lives accordingly. We need to assess our incomes and financial assets in such a way that we can cover both our wants and needs. This is one of the most basic objectives of financial planning. It helps us stay ahead of the economic uncertainties and inflation.

Creating Long-Term Wealth

Building long-term wealth is another one of the purposes of financial planning. To make sure our money grows, we should consider making strategic investment decisions. Generating wealth means to invest the earnings that we have saved and create a parallel income stream. The secret lies in choosing the correct stocks, real estates, and having retirement accounts! These investments grow exponentially, paving the way for a prosperous future! It’s like planting a tiny seed, nurturing it regularly and watching it transform into a mighty tree that would shelter our and our family’s future.

Meeting Short-Term Financial Goals

All of us have short-term dreams, be it buying a fancy car or planning a dream vacation to Bali! Objectives of personal financial planning also cover the need to meet our short-term financial goals. Setting clear goals and crafting a well-thought-out budget, helps us take control of our finances and save for our little dreams!

Both long term and short term are essential for our overall success, the former demands more patience and the latter gives us quick feedback to keep us motivated!

Tax Planning and Optimisation

The more the income; the more the taxes. Saving on our taxes and retaining our hard earned money is a superpower in itself, and it’s one of the most essential objectives of strategic financial planning. Smart tax planning strategies help us optimize our tax liabilities and save more of our income!

Once we find clever ways to reduce tax burdens, we can use these extra funds to achieve our life goals. This puts us in a stronger financial position.

Managing Risks and Uncertainties

Life is full of uncertainties and it’s practically impossible to anticipate each and every risk that we may encounter. But it’s easily possible to have some financial backup in times of need! We tend to lose our sleep during uncertainties and emergencies. The fear of recession; job market fluctuations; or unforeseen events can weigh heavily on our minds when we lack financial security. 

Having insurances, contingency plans and emergency funds can be our friends during such challenging times. Investing in such funds can help us go through emergencies with a lot more resilience without losing our sleep.

Planning for Major Life Events

An objective of investment planning revolves around the major milestones of our lives! Whether it’s getting married, planning for a child’s education, or buying a house, financial planning equips us to embrace these milestones with a smile on our faces! What could be more wholesome than cherishing the precious moments of our lives, knowing that we have taken all the necessary steps to turn our dreams into reality? At the end of the day, little wins in life are as important as the big ones! So, investing to achieve them is the right way to approach life.

Assessing and Adjusting Financial Goals

Sometimes our life takes a turn that we never would have anticipated. Life is dynamic and our goals and priorities change with time. An objective of strategic financial management is to assess our financial goals regularly. Our portfolio helps us keep a check on our goals and adjust the existing plans according to our new needs.

Seeking Professional Financial Advice

Creating a financial plan by ourselves is not impossible, but with our day-to-day responsibilities, it can be a little challenging. Having a trusted financial expert who can analyse our finances, create a personalised plan, and explain the objectives of financial planning, can be a blessing! 

Financial advisors let us relax in the backseat and help us invest in the stocks and funds that are right just for us. With their guidance we can pave our way to a secure future!

Also Read: How Can A Financial Advisor Help In Your Financial Planning Journey?


Navigating through life is challenging in itself, let alone navigating through financial worries. Financial planning helps us minimise these worries and helps us live our life in a more meaningful way. 

By securing our finances through budgeting, and planning, we can move towards a bright and prosperous future. The key is to have certain goals in life and craft a plan by yourself or with the help of a professional! 

It’s time to embark on a well-planned journey to a secure future!