Start Financial Planning

Wish You All

Happy and Prosperous New Year

Welcome 2018

Let us all take a new year resolution on this new year day that “We all will learn and educate others about Financial Literacy by which we will have a Happy & Prosperous living in our life”

To support

Financial Education Week (FEW) is an independent, not-for-profit national initiative, we have started this Financial Literacy Mission a little contribution from our side.
Financial Planning is an ongoing process to help you make sensible decisions about money that can help you achieve your goals in life.

From where we should start financial planning execution? Before starting financial planning one should consider following three aspects
Before starting financial planning one should ensure that he/she has sufficient Emergency Funds which is equivalent to you 6 to 12 months take home Salary / Income. If not having then accumulate your Emergency Fund first.
Your next target should be to become Debt Free. If possible try to repay all your debt except Home Loan as early as possible.
Then be sure you have sufficient life insurance as well as medical insurance because this will help you to fight against financial disturbance generated by such events.

After considering above points list your all the goals just like below

  1. Child Birth
  2. Kids Education
  3. Kids Marriage
  4. Dream Home
  5. Dream Car
  6. World Toure
  7. Retirement Planning

Out of all the above planning which planning is to be started first?

In my opinion Retirement Planning should be executed first when you get your 1st Salary or Income starts ( I mean as early as possible ) because in all other goals you will have the option for using loan facility but for Retirement period there is no bank nor any financial institutions willing to offer you a loan.
One more reason to start Retirement Planning first is that you need a huge corpus. If you delay your retirement planning it will be harder for you to accumulate such a huge corpus.
Remember you will have to accumulate corpus which will last for your entire retirement life assuming that it would be as long as your earning period

HAVE YOU PLANNED YOUR RETIREMENT LIFE?

At Retirement age no one is capable of doing hard work to generate earnings for survival.

That is why everyone should start saving for their retirement.

Retirement Planning is nothing but engaging your money at work to earn for your Retirement Days.

In the coming weeks we will be discussing Retirement Planning in 3 parts. Part 1, Part 2, and Part 3

IF YOU FEEL THIS USEFUL FORWARD THIS TO YOUR OTHER CONTACTS AND SUGGESTIONS TO ME.

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