Factors Affecting Financial Planning

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A STUDY ON FACTORS INFLUENCING FINANCIAL PLANNING OF URBAN INVESTORS ABSTRACT: This paper examines the behavior of a professional investor from metropolis region (Mumbai) focused on the factors that drive the financial planning of an individual, it assesses the factors that surround the decision making of an individual with regards to influential factors like friends, media etc. and other factors that drive the investment decision. The study was carried out on professionals to check their investment portfolio and avenues invested by them with regards to the risk factor and return factors, the sample data received through interviews was 80 and was carried out in Mumbai. The study revealed that the financial planning of professional investors…show more content…
For lifestyle with the average age of the working population, people in their 20s and early 30s have more disposable income to invest in long-term investments like mutual funds. For personal we have the planning of the futures like buying a 2nd home getting married etc. Social and economic policies can also influence your financial planning to a huge extent. These policies define how you create and maintain wealth, as well as how much you have to pay by way of essential expenditures, taxes and…show more content…
Various statistical tools were used ranging from descriptive statistics, Chi-square test, t-test, p test etc. a. Sampling Size:- The Basic sampling procedure for the study, we have made the decision to carry out 80 respondents and they were selected on randomly within criteria that they should be professionals. The study was carried out in Mumbai as a small scale b. Sampling Sample:- Probability kind of sampling is used where it is known which if the units will be picked to be sampled, and where some of the units have a probability of being chosen. c. Data type and Source :- The data used includes primary sources collected through the collection of data from working professionals through Google forms, the secondary sources used are for creating the questionnaire and the process of executing the study PROPOSED RESEARCH HYOPTHESIS: Based on the response received following hypothesis are formed to conduct test which include a p-test, t-test, chi-squared I. Ho: Less that or equal to 50% of the respondents who does self-financial planning rely on friends / relatives as a source of investment
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