Write Down your Financial Goals and March towards it!!!

Have you ever written your financial goals ?...

Do you agree with me that, always setting a target and marching towards that will lead to success.

if yes, than why don't you follow?.... this is a thing of Common sense.....Very Easy to Understand but Very much Difficult to Apply.... Before few decades, some economist had done a research and found out that people who had set a goal and worked in life is always successful. They also found that 97% of people do not write down their Financial Goals and were Financially struggling in their later part of their life.

So Moral is that, you should write down your various financial goals on a piece of paper....

be very specific with figures and time horizon.

Your Short -Term Goals (less than 5 years ) should be like this,

- Buying a Car around Rs. 15 Lacs within next 3 years...

- Buying a Home worth a Crore after 5 years ....etc..

Your Long-Term Goals should be like this,

- Having a Retirement Fund of Rs. 3 Crore after 25 years

- Child's Education Expense - Rs. 1 Crore.....after 12 years ...etc...

Be very specific.

Count your Future needs by taking in to account of Inflation also. say for example, if today child's higher education expense to go to USA is around Rs. 30 Lacs than after 20 years at the inflation rate of 8% you will need Rs. 1.40 Crore. so count accordingly....

So if you haven't write down your financial goals than right now write it down....!!!!

For further assistance on guidance in achieving your financial goal contact us . . . . . . . .

K. Ramesh Bhat, CPFA., CFP

^CM

CERTIFIED FINANCIAL PLANNER^CM

CEO, M/s. Aniram,
New No.15, Old No.8, Second Trust Link Street,
Mandavelli, Chennai - 600028.
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CFP^CM, CERTIFIED FINANCIAL PLANNER^CM and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Standards Board India is the marks licensing authority for the CFP Marks in India, through agreement with FPSB Ltd.