Goal-based financial plans are in vogue. However, getting a goal-based financial plan
prepared by a planner or an advisor alone won’t guarantee achieving all your financial
goals. “A financial plan is like an itinerary given by a travel agent to you. You have to
take care of some operational issues to ensure a great holiday for you,” says Lovaii
Navlakhi, managing director & chief financial planner, International Money Matters.
For example, you have to get a visa on time or the air-ticket at the right price if you want
to make the most of your holiday. A financial plan also needs such fine-tuning from your
side. Most financial planners list people’s failure to get their goals right and
implementation and review of the plan as the main reasons why most plans fail to deliver
the goals.
Read the full article here