Specific need based Financial Planning

Specific need based financial planning is a methodology which is a different approach from the conventional investing methodologies, where financial performance is defined as a return against an investment benchmark. This approach results in focus of the investment approach shifting from achieving higher returns on the investment, or exceeding the market returns, to funding the one or some personal financial goals.


A person's goals may be short term security (the savings account), intermediate term portfolio for a child's education expenses and a longer term fund for eventual retirement. The emergency/ contingency fund should be invested in very short term low risk investments. The intermediate term fund should be longer and take more risk but only moderately. While the long term fund would likely own long dated bonds, stocks and other equity investments. Circumstances of the individual can satisfy the needs of the various goals or make those needs more aggravated.

For instance, a pension benefit or annuity can greatly decrease the need for a retirement fund while a scholarship eligible child can reduce the need for a college fund. An employment contract reduces the need for an emergency fund. A chronic illness might increase the need for an emergency fund.

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