{"id":1472,"date":"2017-12-31T04:17:04","date_gmt":"2017-12-30T22:47:04","guid":{"rendered":"http:\/\/bltpindia.com\/wordpress\/?p=1472"},"modified":"2022-10-30T17:17:30","modified_gmt":"2022-10-30T11:47:30","slug":"start-financial-planning","status":"publish","type":"post","link":"https:\/\/bltpindia.com\/wordpress\/index.php\/2017\/12\/31\/start-financial-planning\/","title":{"rendered":"Start Financial Planning"},"content":{"rendered":"
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Wish You All<\/strong><\/em><\/span><\/p>\n

Happy and Prosperous New Year<\/b><\/i><\/span><\/h3>\n

Welcome 2018<\/strong><\/em><\/span><\/h2>\n<\/blockquote>\n

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”<\/p>\n

To support <\/b><\/h2>\n

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

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

After considering above points list your all the goals just like below<\/p>\n

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  1. Child Birth<\/li>\n
  2. Kids Education<\/li>\n
  3. Kids Marriage<\/li>\n
  4. Dream Home<\/li>\n
  5. Dream Car<\/li>\n
  6. World Toure<\/li>\n
  7. Retirement Planning<\/span><\/li>\n<\/ol>\n

    Out of all the above planning which planning is to be started first?<\/p>\n

    In my opinion Retirement Planning should be executed first when you get your 1st Salary or Income starts ( I mean as early as possible )<\/b><\/i><\/span> 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.
    \nOne more reason to start Retirement Planning first is that you need a huge corp<\/strong>us<\/span>. If you delay your retirement planning it will be harder for you to accumulate such a huge corpus.
    \nRemember 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<\/em><\/strong><\/span><\/p>\n

    <\/p>\n

    HAVE YOU PLANNED YOUR RETIREMENT LIFE?<\/b><\/h3>\n

    At Retirement age no one is capable of doing hard work to generate earnings for survival.<\/p>\n

    That is why everyone should start saving for their retirement.<\/p>\n

    Retirement Planning is nothing but engaging your money at work to earn for your Retirement Day<\/i><\/b>s.<\/span><\/h3>\n

    In the coming weeks we will be discussing Retirement Planning in 3 parts. Part 1<\/a>, Part 2<\/a>, and Part 3<\/a><\/p>\n

    IF YOU FEEL THIS USEFUL FORWARD THIS TO YOUR OTHER CONTACTS AND SUGGESTIONS TO ME.<\/p>\n

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