- Effective financial planning means :
- Starting early
- Investing regularly
- Investing with a long term horizon
- Keeping long term goals/requirements in mind
- Obstacles to financial planning
- Lack of time for diligent planning and implementation
- Irregular investment patterns
- Delayed start, leading to loss of investment opportunities
Typical financial needs to be provided for
Hypothetical example of a person aged 35 years who will need funds for...
- Higher Education of his child after approximately 11 yrs
- Equivalent of Rs. 10 lakhs required today
- Marriage of his child after approximately 16 years
- Equivalent of Rs. 20 lakhs required today
- His Retirement after approximately 21 years
- Equivalent of Rs. 30000 p.m. today for house- hold expenses and other commitments like medical expenses for rest of his post retirement life. Required corpus Rs.1.4 crs after 21 years.
Using systematic investments to achieve your financial goals
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