The most important aspect of Financial Planning is to estimate financial goals and link them to the savings capability of the investor and accordingly suggesting an investment plan that would lead to achieving the goal.  Financial planning ensures that a person has the right amount of money at the right time as and when financial need arises in future. It is a process that helps an investor find out various ways through which he can reach his defined and desired goals. Financial planning helps not only to meet future financial expenditure but also involves protection of self and family against any future contingencies. Financial Goals may be short term as well as long term. While planning for our goals, we need to assess the impact of inflation. Longer the term higher will be the affect of inflation. For instance, the value of Rs.1cr today is equivalent to Rs.4.60cr 20 years from now at 8% inflation.