Step 4: Select the right financial planner
One reason why financial planning isn't quite as difficult as it seems is because your role in it is relatively limited. Apart from basic reading up on financial matters and keeping yourself updated on investment-related news, there is very little that can be expected from a lay investor.
The reason why you need to be relaxed about financial planning is because your partner needs to take all the heat on him. Your partner over here is your financial planner. He is the one who needs to sit down with you, draw up an achievable investment plan after considering your investment objectives, age and risk profile.
It is for him to recommend you at regular intervals what you need to do with your money and give you an update on your investments.
Image: A man sits beside an ATM counter of the State Bank of India in Kolkata. | Photograph: Deshakalyan Chowdhury/AFP/Getty Images
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