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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.

http://stockssavvy.comHow many of you want to own a house, a car & many other luxuries of life. How many of you want to be a millionaire? The point here is not to just make millionaire but at what age you are going to be a millionaire. &

Let us understand better through a chart

If one person wants to become crorepati, how much money he needs to save every month to become a crorepati.

Crorepati Chart
5 Years 1,12,899 Rs.
10 Years 36,335 Rs.
20 Years 6,679 Rs.
30 Years 1,444 Rs.

The chart has been made keeping in mind a return of 15%.

The later you start more the money one needs to saving to achieve the same goal.

Some might think that there are not having enough money to start their financial planning. I’ll like to present a table which will clear their illusion.

Saving 1000 Rs. per month

Returns Percentage/Years 10 Years 20 Years 25 Years 30 Years 35 Years
10 % 2,06,552 7,65,696 13,37,890 22,79,395 38,28,277
15 % 2,78,657 15,15,954 32,84,073 70,09,820 1,48,60,645
20 % 3,82,363 31,61,479 86,26,708 2,33,60,800 6,30,83,478

These again re-enforce disciplined investments. Disciplined investment of 1,000 Rs per month @ interest rate of 20% can make you a crorepati in http://stockssavvy.comaround 26 years. Who would believe me if I say an disciplined investment of 1000 Rs. is enough to make you a crorepati. Scrutinize the difference of amount between 30 to 35 years is much bigger than between 25 to 30 years which again shows the importance of starting early.

Since its inception in 1980, the returns from the Sensex has been around 17% compounded annualized, which is also a reflection of corporate earnings growth. Historically over the last 10 years, some MF schemes have given returns in excess of 25% CAGR. Regular savings exhibit a compounding force and inculcate a sense of Savings discipline in the individual, thereby acting as a WEALTH BUILDER tool in the long run.

By now, i am sure you would have understood the necessity & importance of financial planning to any individual – young, old, rich, poor etc. Financial planner can be seen as a coach, guru, adviser or a friend. Why do celebrities have a financial fitness instructor? Why should the world’s best batsmen & bowlers in cricket have a coach? To put in a nutshell, you need a financial planner who can put you on the right path, who can guide you, who can monitor your progress, & provide tips & help to improve your performance.

Stockssavvy launches its first

http://stockssavvy.comPeople fear the cost structure involved with the financial planners & I am pleased to inform Stockssavvy is launching their first Financial Planning services. The only cost we are asking is to subscribe to our mailing list & be a facebook fan & we will assist you in the best possible way to overcome the blockers of financial planning & help you in achieving your financial goals.

Contact Us if you are interested!

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