Life Goal Planning

Retirement Planning

A lot of news you hear about retirement these days is negative, with social security practically not available in India, you may have to work longer, as better lifestyle& health care brings longer life span. With retirement not far around the corner, your needs will be rapidly changing. And you will be asking the big questions – what does retirement mean to me, and will I have enough? How can I be better off? Having a retirement free from money woes isn’t necessarily mean being a Crorepati but rather using the assets you do have wisely and proactively. By identifying what you can control and focusing on that you can put yourself in better position to have a retirement that allows you to achieve your goals.

As our lives change, our financial needs and priorities change too. Even if you’re years away from retiring, it will be wise to be thinking about building retirement fund. Years from now you’ll be a lot happier saying, “I’m glad I did” instead of “I wish I had”. A retirement fund is an assurance that you will continue to earn a satisfying passive income and enjoy a comfortable lifestyle, even when you are no longer working (Active Income).

Child’s Future Planning

The birth of a child is one of the most important events in one’s life – other than the celebration; it brings maturity and responsibility to the parents. It also brings seriousness regarding our financial life and if we talk about priority of goals, sometimes Child Future Solution is even a shade above retirement solutions.

There has been a paradigm shift in the thought process of people and generally they don’t make any distinction between sons and daughters. Socially their thinking may have changed but financially they still belong to that old school which is happy with buying insurance policies or some bonds in name of the children. Few new age parents have started buying child Unit Linked Insurance Plans (ULIPs) rather than money-back policies. But is it actually a smart strategy? The simple answer is NO. Emotional sales take place where investors take decisions based on their emotions.

As a parent you want to be the pillar of strength and support for your child, making sure that his/her future plans remain undisturbed even when you are not around. There are two major aspect of Child Future Solutions, i.e. Child Education & Child Marriage and both are important in once life.