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Destination: What are your financial goals?<br />Series 2<br />
What are the logical steps to plan financially?<br />Defining your goals <br />Saving for them<br />Covering risk<br />Pro...
Defining your goals.<br />You save for a variety of reasons (buying car, house, educating children, business, marriage, le...
Saving for them<br />Once goals are written down, you can clearly see HOW MUCH you need to save<br />The concept of ‘savin...
Covering risk<br />Assess insurance needs (depends on person to person, age to age)<br />You may need insurance for yourse...
Providing for retirement<br />How much time do you have to earn? When will you stop earning? How will you sustain then?<br...
Next steps?<br />To educate you about the role of financial planner (the one who guides you through the road) Stay tuned f...
Credits:<br />Outlook Money article<br />Precious Solutions Financial planners<br />
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Road to financial planning- Part 2

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We take you through some simple and essential steps for saving your money to fulfill your needs. Dont get intimidated.. Read along.

Published in: Economy & Finance
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Transcript of "Road to financial planning- Part 2 "

  1. 1. Destination: What are your financial goals?<br />Series 2<br />
  2. 2. What are the logical steps to plan financially?<br />Defining your goals <br />Saving for them<br />Covering risk<br />Providing for retirement<br />
  3. 3. Defining your goals.<br />You save for a variety of reasons (buying car, house, educating children, business, marriage, leisure and retirement)<br />Work out a money value for each of your goals<br />Set aside money for contingencies (emergencies) and unexpected occurrences. <br />Insure yourself, family and property. <br />
  4. 4. Saving for them<br />Once goals are written down, you can clearly see HOW MUCH you need to save<br />The concept of ‘savings’ changes– from ‘something that’s left over’ to ‘something that you target every month’.<br />You start budgeting, avoiding wasteful expenditures, generating a good amount of saving every month.<br />You set out to ‘create wealth’ <br />
  5. 5. Covering risk<br />Assess insurance needs (depends on person to person, age to age)<br />You may need insurance for yourself, family, car, house, business etc as per the magnitude of investment in it<br />Identify insurance needs, quantify them and look for policy options<br />
  6. 6. Providing for retirement<br />How much time do you have to earn? When will you stop earning? How will you sustain then?<br />Quantify in ‘money terms’ the retirement you dream of<br />Work out a saving target every month and how much it needs to grow<br />Keep short term spending in check so that you don’t touch retirement funds at all. <br />
  7. 7. Next steps?<br />To educate you about the role of financial planner (the one who guides you through the road) Stay tuned for the last but most important part of this series. <br />Join us on Facebook for regular tips, updates and interesting stuff on http://www.facebook.com/update_security_info.php?wizard=1#!/pages/Fundoo-Finance/174437115929814<br />Visit us at www.precioussolutions.biz<br />
  8. 8. Credits:<br />Outlook Money article<br />Precious Solutions Financial planners<br />
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