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Power of Regular Savings – Part 2

Rajesh Singla

present age of 25 years, life journey of a person Marriage at the age of 27 years Honeymoon at the same age of 27 years First car taken at the age of 27 year First Baby at the age of 30 years Second baby at the age of 33 years First child school admission fees at the age of 33 years(Baby’s age – 3 years) Second child school admission fees at the age of 36 years(Second baby age – 3 years) First child college fees at the age of 47 years (First child’s age 18 years) Second College fees at the age of 50 years (Second child’s age 17 years) Retirement at the age of 55 Years (surprised not to see 60 years, Retirement planning should be planned much ahead of actual retirement age)

Power of Regular Savings – Part 1

Rajesh Singla

Most of Indians would have heard about this saying: "Boond Boond se Sagar Banta hai" meaning drop by drop, oceans gets filled. Similarly, every paisa makes a rupee and every drop of your sweat will raise your status and you will prosper in life. Today we are going to see how drop by drop make an ocean i.e. power of regular saving in a life. I could not help it wonder why most of the people failed to get their financial goals. Why life of the people is running on credit? Why every liability seems to burden them? A person keep on chasing better pay packages throughout their career but is earning less really the problem? Let me ask you something while you wonder how much money is in your saving account right now? There are two scenarios right now: First is your account is in overdraft. Each penny which comes in goes out. The problem here is not earning less; the problem is managing your budget & expenses with your earnings. The other scenario is your saving account is having money & after some time, the money gets spent because you needed something which has uttermost importance in your or your beloved life. The problem here is where people doesn’t understand the power of regular savings & how to achieve the financial goals.

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Rajesh Singla

Four blockers in financial planning: Many people don’t know what is financial planning & doesn’t understand its importance or impact ...

Stockssavvy launches it Financial Planning Services

Rajesh Singla

Four blockers in financial planning: Many people don’t know what is financial planning & doesn’t understand its importance or impact - Generally young generation people who doesn’t have liabilities comes under this category. The one who do know financial planning & importance of having one doesn’t know how to start an apt financial planning. Lack of knowledge on financial products & their returns confuses most of the people. Either these people gets trapped by insurance agents who recommend them policies which proves no good to their hard earned money without understanding their financial goals & wishlists or these people get tips from their friends & relatives who will advise them to take on that particular investment because their agents would have suggested it . Lot of Young married people comes under this category. The one who do know how to set their financial goals & how to start financial planning lacks the desire to start it. Even after knowing all the benefits of regular saving, they don’t have the desire to start it. To our dismay, lot of people comes under this category too. For these people, world is not coming to end tomorrow. Hence, there seems to be no rush. The one who understands & wants to start their financial planning without any further delay doesn’t have the required money to start with. Share here which category you belong to. The first step to start financial planning is to understand where one is right now & where one want to be after specific period of time. To be part of one of these 4 category means he has identified the root cause. Half of the problem is solved once root cause is known. That’s the reason I urge readers to talk about it in this forum & get your financial planning on track as soon as possible.

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