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Financial Planning Tools




Financial planning has become a necessity in order to have protected and safe future. This has resulted in the emergence of financial planning tool for easy and convenient financial planning. Various innovative financial planning tools are built which are highly relevant yet surprisingly simple guiding tools that help in building a complete financial plan for your life.
There are different financial tools available in order to identify the hierarchy of life for an individual like insurance, loans, savings, retirement and investment.



Minimum insurance needs calculator :

The Minimum Insurance Needs calculator is used to calculate the least amount of insurance cover you need to pay, to protect your family from financial mishaps in your absence. The calculations in this financial planning tool are based on a proportion of your family’s current declared expenses. The calculator envisages the minimum amount your family will need, which when invested in a financial product would fetch an interest income which is adequate to maintain these expenses in future.

Loan Calculator :


This financial planning tool is used to determine the monthly payment for your car loan or mortgage. The calculation is based on the number of months, the interest rate, and the loan amount you are borrowing.

Savings needs calculator :

The Savings Needs calculator is a financial planning tool that helps to estimate a rough expenditure required to fulfil your goals and objectives, whether it is a dream home or your child’s education and / or marriage. The most important point taken into account while calculating through savings calculator is that your expenses on your goals and aspirations will be on the future prices. You need to know that the approximate amount you would need in future before you plan on how to save. The savings calculator includes inflation rates in arriving at the future figure you need to reach to meet your goals, thus making it easier for you to compute your savings requirements to achieve those figures.

Retirement planning calculator :

Most of the people are ignorant about retirement when they are young and healthy. A retirement savings plan is the last thing on their mind. You need to start looking out for a retirement savings plan before it is too late. The Retirement Needs calculator is a very helpful financial planning tool for a steady income to ensure a well planned lifestyle post retirement. It is very rightly said that, “when you have silver in your hair, you should have gold in your pocket”. One should not worry about the financial needs during your retirement years. Hence, a careful estimate of the amount you would need to meet all your needs post retirement can be done through retirement planning calculator.

Investment needs calculator :

The Investment Needs calculator helps you to arrive at your dream number by using the simple yet powerful concept of compounded growth to bring a disciplined and regular income through your investments. This financial planning tool can help you plan your way to conquer the requirements acknowledged by you in the Savings and Retirement Needs calculators.


 
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