My Story:
So it was one of those when I had just finished my college and decided to take a look into my Father’s investments as I had started reading some literature on Investing. In those statements I realized, he started investing around (2009-2010) and redeemed all the funds in mid 2016. He made some exceptional returns (approx 80-100%) he said.
After I did my research, I regretted that if he would have waited for a little longer he would have multiplied the same at a much better rate. This was my moment to comprehend and start my journey on being a Financial Advisor so you don’t repeat the same mistake my Father did a few years back.
Definition: Personal Finance is a process through which you can plan activities such as income generation, saving, spending, investing & protection.
How to go about it:
- Setting Your Goals: Dreams don’t work unless you do.! Start setting specific Goals for a given period of time to achieve Financial Freedom. Goals can be Short & Long term. Saving up to buy a Laptop by next month would be a short term goal whereas retiring with a sum of Rs 50,000,000 would be a long term Goal.
- Planning: Step by Step planning will take you towards your Goals faster than anything in the World. It will include details on how to reduce unwanted expenses, investing in mutual funds, government bonds etc.
- Execute: Planning and execution of these Goals will often require massive Discipline and Perseverance. Some also opt for taking help from Financial Planners, Accountants, Lawyers etc.
- Reviewing from time to time: Make sure you monitor your Finances regularly esp. in times of Global Tensions, Natural Calamities etc. A shift of these financial instruments will help you save your capital. You can also use the help of your Financial Advisors to dodge these Yorkers.
