Tuesday, November 27, 2018

10-Wisman Steps In Planning For Financial Security

                                                      
living a happy life is what you should plan for your financial security

No one can live a happy life without steps in financial planning. No one can become a millionaire or billionaire without planning in finances. Even if you have millions in your accounting bank and you do not have financial planning in steps for future security, you are at the mercy of inflation growth or global vicissitude. If you do not want to become a victim of global change, you must learn how to process financial planning for future security.


Many pensioners retire poor even they are professors or educationalists because they do not think of financial plans for their future. They thought government or social security will take care of them through monthly pension only to find themselves disappointed at their failure.

No one can plan your future for you. Don’t hope your children will take care of you when you retire or are old. You must plan yourself financially because if you don’t plan for your future security, poverty will plan for you.


Read Also: How To Use Main Technical Skills To Create Wealth

Many people do not know what to do when they lose a job or business because they do not plan themselves financial secure. Financial security and happiness are the bane of proper financial planning. Until you live a planned life, you can not live a happy life. It is not enough that you plan up for retirement. No. You must plan so far beyond financial retirement.

Poor or lacking financial planning in process may send you to the grave as some retirees die daily because of stress they face when it comes to finances. Financial plans for your future is the most important thing in your life because it protects you against unprediction or unforecast. Depending on salary or earned income for your children’s education college is so risky because it can limit your opportunity to relish your age. Let me process in steps here.

             10-Wiseman Steps In Financial Plans For Future Security.

Step 1: Get a steady and consistent source of income. Don’t depend on only one income.

Step 2: Apply 30/70 principle in your life habitually.

Step 3: Determine your plans on finances. Map out your plans. Then stick to it. Similarly, know your financial goals or priorities. Then plan for it.

Step 4: Know your net worth. Don’t start investing in investment opportunities till you know how much you are worth.

Step 5: Invest 10% in your personal development. No one can make it big in investment vehicles in short or long term without developing their financial intelligence.

Must Read: Top Tips For Developing Financial Discipline

Step 6: Invest in index or mutual funds for your children’s college education so that they can be taken care of for you while you sleep with peace of mind in future.

Step 7: Automate your regular investment to some other financial companies or investment clubs that pay you 20% interest quarterly or annually for your future retirement.

Step 8: Know where your money goes and comes. Then work with it.

Step 9: Protect your future by investing in life insurance for yourself or your family. May be you can make money by buying and selling annuities. Ask any financial planner or financial adviser on this issues you want to know more about.

Step 10: Review your plans and see how far it is.

Conclusion:

Steps in financial planning help you reach your destination. What fits me may or may not fit you. Choose what fits you and plan it. Do not invest till you have a plan. You must plan your financial life if you know what being old feels like. I am not a professional financial planner or financial adviser even I am writing about it. Ask any financial planner outside this blog. They may experience more about financial planning opportunities than me.

Stay tune with me next time.

Happy planner!

No comments:

Post a Comment