One should plan and invest for not only the child's immediate requirements, but also for their education. The earlier one starts planning and saving money for this essential part of their child's life, the larger the corpus is likely to be when it is actually needed.
Retirement planning is beyond numbers. It has more to do with what an individual will do after retirement considering that it's a big change, both financially and emotionally. With people living longer, they need to plan well if they want to continue with the lifestyle they have before retirement by assessing their expenses and income.
Decision to buy your dream home should be backed by sound Financial Planning rather being an Emotional Decision. Financial Planning is very critical specially if you are buying a house on Loan.
A sabbatical can give you an invaluable life experience, but it’s wise to do everything you can to minimize the financial price you’ll pay. Whatever be the reason, you need to have enough money to cover all the expenses so that you comfortably sail through the time that you are not earning.
When you travel, you don't want to be distracted by money problems. You definitely don't want to miss a great event or experience because you didn't plan your finances well. So seeking sound financial advice is important to have a peaceful and planned travel.
While estate planning is often associated with the wealthy in reality anyone who wants to pass on assets to their heirs needs to think about their estate plan. In addition, estate planning takes into account the guardianship of minor children, the succession plan for a business and a variety of other related issues. Like any aspect of financial planning, as estate plan should be reviewed and if needed updated periodically..
Keep working towards your goals with proper financial planning and backing.
A parent not only wants the children to have a good education, but also wants to celebrate their life’s important occasions like marriage. In order to fulfill these duties, it is imperative that one follows the right approach towards planning for important financial goals, marriage being one of those goals. Creating a corpus for your child is one of the greatest gifts you can give them.
Tax planning and financial planning are closely linked, because taxes are such a large expense item as you go through life. If you become really successful, taxes will probably be your single biggest expense over the long haul. So planning to reduce taxes is a critically important piece of the overall financial planning process.
A contingency or emergency fund is practically a reservoir of money kept aside to cover up for unforeseen circumstances or future expenditure. Because of uncertainties in our existence, we might have to face them with monetary assistance.
Buying a car is one of the priciest purchases you can make and often involves taking out a substantial loan and making years of monthly payments, so it's definitely a subject that requires some financial advice.
Good finances are important for running a successful startup, as they are a sign of a sustainable business model and make it easier to pay bills and put money in your pocket.
Lifestyle financial planning, tries to dig deeper by asking the BIG questions. While it’s natural to think about wealth in mental accounting terms, in reality it’s far from a neat and logical process. Lifestyle financial planning is about helping you to move beyond the traditional notions of wealth— such as assets, net worth, and business valuation— toward genuine prosperity, which is defined as a state of well being when resources are aligned with a sense of self and life.