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Will : legal declaration of how a person wish his/her possession to be disposed after their death
“The early bird catches the worm”
The earlier you start planning your expenses and savings, the easier it would be for you to reach your financial goals. Take the goal of retirement at age 60 for example. Suppose you want a corpus of Rs.1 crore at age 60, you would need to save about Rs.7, 500 per month at an assumed growth rate of 8% if you are 30 years old.
Your monthly saving would have to go up to about Rs.18,000 if you are 40 years old to achieve the same goal at age 60 at the same growth rate and to about Rs.Rs.58,000 if you are 50 years old when you would be left with just 10 years to invest.
Understanding Real Financial Planning
Imagine your neighborhood uncle who is also an agent offering advice which you think is free of cost. That is mostly not the case. The advice may not really suit your situation even if the intentions are genuine.
Often these people sell products that may have high charges and without understanding the full client situation. I have found that people pay tens of thousands of rupees on such wrongly bought products over the years.
Real Financial planners are professionals that can help you plan for your future. A financial expert typically has the knowledge to do far more for you than you could do on your own.
Saving money is usually a case of self-discipline. It may be hard, but having a savings cushion can provide financial peace of mind and a source of funds if you need them.
To create a financial plan for a better prosperity, you may want to check our financial planning process. If you want to check our own distinctive complete and comprehensive financial planning process will be suitable to you or not, then you may register for
OUR 30 MINUTES COMPLIMENTARY COUNSELING OFFER
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