It Makes Money Work For Us in place of we working for money.
Formula Of Replacement Of Income. Suppose, Your Monthly Salary Consider As Rs.1 Lakh (100000 X 200 month) = 2 Crore, We Consider Bank FD Rate @ 6% (If This Person Lives No More Automatically His Legal Heir Deposit 2 Cr. @ 6% .Automatically Same Income Flow Will Continue.)
Good Loan :- Housing Loan and Education Loan.
Bad Loan :- Credit Card Loan ,Personal Loan And Vehicle Loan.
Rising Medical Expenses, Uncertain Disease (Like:-COVID19,Cancer)
Without Tension Get Pension, Peace Of Mind, Financial Freedom. In Today’s Inspirational World, wherein people have lot of dreams, in order to achieve them, early retirement is need of all.
Retirement planning is essential because it acts as backup source of income every month after retiring from work. Typically retirement should be the best period of your life when one prefers to relax and enjoy. In reality it is not, as most of the people are not serious about their retirement planning and are simply deferring it on account of rise in lifestyle inflation or have started too late wherein the amount accumulated is not sufficient to meet their needs.
Thus clearly, awareness is required to be spread to masses to start their retirement planning from their early lifecycle stage. Longer the time horizon more the benefit of compounding can be enjoyed leading to faster wealth creation.
Financial planning is about effective planning and deployment of savings in right asset class which will deliver desired return to meet future goals. Like we plan for even a small holiday, we should plan for our future goals such as child education, marriage, retirement etc.
Therefore keeping in mind the entire life cycle phases one needs to have a financial plan as it acts like a bridge connecting today and future. All of us want "MONEY TO WORK FOR US" and for that financial and investment planning is essential. A goal setting is a foundation step in financial planning as without goal, planning cannot be executed.
As we have multiple goals to be achieved at a different time interval, we have to take into consideration all the goals and prioritize them based upon their importance and urgency. Prioritization of goals brings lot of clarity, leads to financial planning and makes the task simple for investors and advisors.