Future planning requires considering rising costs of living and inflation. The document discusses how assuming an annual inflation rate of 12%, expenses that cost Rs. 20,000 per month currently would equate to Rs. 1,92,000 after 20 years to maintain the same standard of living. It emphasizes starting health and life insurance coverage early to cover increasing risks. It outlines seven habits of ineffective investors like not saving regularly or planning investments. The document provides self-assessment questions on spending, savings, debts, and financial planning and introduces maXpertz Wealth Managers for financial planning solutions.

1. Future PlanningbymaXpertz- Get the Money Avenues Expertise

2. Future planning: A perspective

3. Am I spending the right way?

4. Can I optimize it?Future planning fundamentals

5. Outside factors impacting our planning

6. Cost of Living will be key

7. Watch out for cost of livingIf a family currently spends Rs 20,000/month on expenses, the following illustration gives a projection of expenses after 5,10,15, 20 years which will equate to current expenses. Eg., If I spend 20k/month, after 20 years I need Rs. 1,92,000 to meet the same expenses at an assumed inflation of 12%.India is a rapidly growing economy. In any high growth economy, the inflation tends to stay at higher levels.

8. Rising cost of living* in our day to day life…Rate of inflation for the essentials assumed at 12% PA. These prices provide an indicative view of the future. The future costs can be impacted by the demand/supply factor which can potentially push up the prices of the essentials like the current onionomania.

9. Rising cost of living….Rate of inflation assumed at 12% PA.

10. Which way is the balance tilting?

11. maXpertz- Pyramid of Life priorities

12. maXpertz- Future planning matrix

13. maXpertz - Health protection matrix

14. As the age increases, the risk and the cost of health care also rises significantly…A comprehensive health cover can cover the health risks and costs…

15. maXpertz - Health protection matrix

16. As the age increases, so does the risk on life …A comprehensive life cover should cover the whole life…

17. How much cover is a good cover?

18. Taking cover: Earlier the better…

19. Why managing wealth is essential…

20. Wealth Management Process

21. Goals – Few examples

22. Objectives – Few examples

23. Product categories – Few examples

24. Wealth management process works this way…

25. Seven habits of highly ineffective investors…1. Keeping all your money in the bank account which earns very low interest…

26. Seven habits of highly ineffective investors…2. Assuming one to be old or too young to plan the investments…

27. Seven habits of highly ineffective investors…3. Great to be busy @ work.. But that being a reason to avoid personal financial planning.

28. Seven habits of highly ineffective investors…4. Postponing the financial planning for tomorrow.

29. Seven habits of highly ineffective investors…5. Treating personal financial planning as a boring exercise

30. Seven habits of highly ineffective investors…6. Not saving a regular amount on your monthly earnings…

31. Seven habits of highly ineffective investors…7. Not having adequate insurance cover for self and the family…

32. Self questionnaire…Am I saving?

33. Am I saving enough?

34. Am I deploying the saved money in the best investment options?

35. Am I spending the right way?Self questionnaire…Have I taken a comprehensive life cover?

36. Have I rationalized my debts?

37. Can I retire some of the debts?

38. Have I planned for my immediate and distant future?

39. Most of all, do I have a clear financial plan?maXpertz Wealth Managers’for financial planning solutions…

40. maXpertz Wealth Managers’..http://mymoneyavenues.blogspot.com/