Financial Planning for DIY Investor

Chirag Surti, PhD, is a college professor and financial planner who discusses the financial planning process and its role in managing and enhancing human and financial capital to achieve future goals. Chirag explains the lifecycle approach to financial planning, where human capital gradually converts into financial capital over time. He highlights various human and financial risks, including inflation, layoffs, loss of principal, disability, premature death, and longevity. He stresses the significance of understanding one’s income, financial needs, risk tolerance, and investment objectives.

He emphasizes the importance of a well-diversified investment portfolio of stocks, bonds, and alternatives to protect and grow financial capital, insurance in protecting human capital, the necessity of estate planning, and a comprehensive financial strategy.

He asserts that every financial problem has a solution, provided individuals understand how different financial components fit into their plans. He also warns against complex products with high commissions, encouraging individuals to carefully assess their financial goals, risk tolerance, and investment timeframes. Throughout the seminar, Chirag reinforces that strategic financial planning is essential for long-term financial security and effective risk management.