FINANCIAL PLANNING – THE NEW WAY TO GAIN MORE
I can afford to go wrong with choosing a location for dinner
with my wife. I can afford to go wrong forgetting my wedding anniversary. But I
cannot afford to go wrong with my financial planning. I MAY END UP DYING POOR.
Yes you heard it right.
But with the help of financial calculators used by Financial
Planners (the good ones not the Insurance selling ones) you can get the cost of
your future goal. This helps you to analyse how much you should saveper month
to achieve your target. This also calculates your
monthly saving and investments to enable you to generate the
amount which can help you reach your goal. By thorough analyses of the below
mentioned points you can have a rocking financial life-
1. Have a
check on your personal finances. Be determined on having a sound financial
planning because where there is a will there is a way. Keep your spouse or any
immediate family member informed about your investments policies, debts etc.
Also do have nominee for your accounts.
2. It is
highly recommended to pay off your credit card dues on time. It saves you from
paying heavy interest. Credit card borrowing is one of the most expensive
borrowings you can ever have. So enjoy the rewards and benefits of using credit
card but do not forget to clear your debts on payment due date.
3. If your
family is dependent on you then you need to have a term life insurance cover to
provide them the financial support in case of any mis-happening. In addition to
this it is also beneficial to get medical insurance for your family as it
covers high rising cost of medical treatment and hospitals.
4. Try to
get maximum tax saving for retirement under section 80C. Do not limit your
retirement saving to EPF and PPF only. Rather go for investments which are much
more then what section 80C allows.
5. Owning
a house is a major and precious dream of our life. So buy a house which you can
afford and live in it. Buying a house is the most important financial decision
and it depends on your financial standing.
6. Put
your half yearly expenses in money market account. Keep this money in liquid
form in need of emergency so that you can withdraw it easily.
7. Allocate
your assets according to your risk appetite and investment goals. Put some part
of your investment in equity through equity fund or direct equities, other part
in bonds through debt fund or individual bond and remaining in gold. Keep those
funds for retirement and don’t use it until the goal is at home.Use Asset Allocation
Calculator to find out how you should invest to reach your goal.
8. If you
are not confident about appropriate allocation of assets or don’t know how to
choose the right mutual fund then don’t hesitate to take help of a financial
planner. The financial expert enables you to achieve your goals.
To lead a happy and contended retired life, financial planning
is a must from the beginning. Life is full of uncertainties so take into
consideration the various ups and downs which you might face in future like
inflation, health care cost, other expenses. Start preparing for it as early as
possible because today’s savings will benefit your post retirement life. Equity
is one such asset which can generate high returns on your long term investment
and assures positive interest rate. So even during post retirement stage make
it a part of your portfolio and escape from the risk of outliving your corpus.
Post retirement your monthly income will be nil but your expenses might remain
unchanged so make sure not to have any outstanding loan in your name as it will
put burden on your existing finances. Planning for retirement should be your
top priority so don’t use your retirement fund to fulfill other goals because
you can get loan for every other goal but not for retirement.
Therefore, a well executed financial plan is like navigating
through the maze if the objectives are clear. Without proper financial planning
you can’t get the desired results. Thus, it is both an art and a science.
Financial Planning is a continuous process so keep on reviewing and updating
your plans from time to time to achieve your goals.
IQ FINANCE PLC provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning
ReplyDeleteis about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of IQ FINANCE
Services, we give you a small-company service but with a large-company set up – the best of both worlds.
You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum,
Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable.
Leasing Price : 4%+1%
Buying Price: 32%+2%
Contact us for more details on our terms and procedure of transaction.
Jamesolsen Terrazas
email : info.iqfinanceplc@gmail.com
skype: cpt_young1
IQ FINANCE PLC provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning is about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of IQ FINANCE Services, we give you a small-company service but with a large-company set up – the best of both worlds.
ReplyDeleteYou are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable.
Leasing Price : 4%+1%
Buying Price: 32%+2%
Contact us for more details on our terms and procedure of transaction.
Jamesolsen Terrazas
email : info.iqfinanceplc@gmail.com
skype: cpt_young1
IQ FINANCE PLC provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning is about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of IQ FINANCE Services, we give you a small-company service but with a large-company set up – the best of both worlds.
ReplyDeleteYou are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable.
Leasing Price : 4%+1%
Buying Price: 32%+2%
Contact us for more details on our terms and procedure of transaction.
Jamesolsen Terrazas
email : info.iqfinanceplc@gmail.com
skype: cpt_young1
IQ FINANCE PLC provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning is about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of IQ FINANCE Services, we give you a small-company service but with a large-company set up – the best of both worlds.
ReplyDeleteYou are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable.
Leasing Price : 4%+1%
Buying Price: 32%+2%
Contact us for more details on our terms and procedure of transaction.
Jamesolsen Terrazas
email : info.iqfinanceplc@gmail.com
skype: cpt_young1