There are some very important goals and life changing events in life which have to fulfilled with due care. Sykes & Ray Financial Planners has identified some goals that are of paramount importance to many of us and offer specific solutions for clients to prepare themselves to achieve them. Below is the list of specific goals and some of the questions our Financial Planners will be able to answer for;
Going/Returning from Job Aboard
Children’s Education
- What is the cost of education today in India and abroad that I need to plan for?
- Will inflation affect the cost of education? If yes, how much?
- How many years of investment do I have to save for my child’s education?
- What are various loans that can be availed for education in India and abroad?
- How much money do I need to save each month for the undergraduate education of my child in India and abroad?
Children’s Marriage
- What is the cost of wedding today that I need to plan for?
- How will inflation affect the cost of wedding? If yes how much?
- How are the various wedding expenses distributed?
- How many years of investment do I have to save for my child’s wedding?
- What is the Future cost of wedding that I will need to plan for?
- How much money do I need to save each year for the wedding planning of my child?
Buying a Dream Home
- What is the future value of the dream home I want to buy?
- Am I having adequate investments to make the make down payment?
- How should I go about choosing a home loan?
- Will I have enough savings to pay Loan EMIs?
- Should I go for floating or fixed interest loan?
- What will be the total cost of buying house?
Debt Management
- How can I become debt free?
- Should I go for pre-payment of my loans?
- What is the healthy debt to asset ratio? What is my ratio?
- How can I avoid getting into a debt trap?
- Am I paying a minimal interest on all the loans?
Starting New Business/New Job
- What is the future value of corpus needed for my business?
- Am I financially prepared to become an entrepreneur?
- How will I run the family expenses during the start up period?
- How do I manage my taxes during the job to business transition period?
- How do I structure my salary tax efficiently in my new job?
- How will I channelize increased income from new job/promotion?
Going/Returning from Job Aboard
- How will my investments and accounts be taken care of during my absence?
- How will I transfer money between countries and between accounts?
- How will I invest in India from aboard?
- How will I file Income Tax returns during the transition period?
- Do I need to give any power of attorney manage my financials?
