Application of Easiest Investment Strategy of a person represents the most important part of anyone’s life at the age between 25 to 35, maximum 40. This is an age where you are really growing in career. This is an age where growth is there in the family. This is a age where you live the foundation for a financial freedom in years ahead. If this be stitched become too much it may become very difficult for them to reach the life course. By the time you achieve. This age band you already worked for 10 years between 25 to 35 years and you’re already gained experience.
Your Family Planning-
So in this writing is going to talk to you about all the things you need to know in the financial planning space. That can make your life a wonderful life to lead going forward. The age between 25 to 35 is a mature phase of your life. The first thing that you have to do at this ages choosing of your life partner and do a review of what happened in the last 10 years.
I want to say you have started your career as a bachelor. Later on you have got married.
Your children are also a important and valuable part of your family. Planning of this time that you are going to do. This will tell you a lot about what all the things that happen in life.
What is Your Investment Strategy at the beginning of Your Job ?
You have earned a lot of money. You have spent a lot of money. You have wasted a lot of money. Have you taken meaningful steps to build financial freedom going forward?
This article helps you what you like what you don’t like. What are the things you wanted to do? But you could not achieve. Although you invested a lot of notes. If any correction are required to take out you may make a note of all these things so that you will not forget what you need to do going forward. So the review of your past 10 years is must for you to attain a financial freedom going forward.
Keep in Mind for Application of Easiest Investment Strategy-
The next thing that you have to do is take stock of your income and expenses. Now saving is not an option for you. It is must. Whether you are able to save or not is not the question at all. You must save at this age.
You may not be saving for various reasons. For example you may be earning a smaller salary or you may be spending a lot of money. You may be wasting a lot of money. You could have taken a lot of credit card. Some loans- personal loan, car loan, HBL which might be reason for you not to save in the last 10 years.
Investment Strategy No.-1 to Increase Family Income-
Now that has to change. The saving has to start in your life. May be you take up extra job or maybe you change the job for higher salary. If your wife is not working think about the possibility whether she can earn also. Think about the possibility whether she can also earn and increase the family income.
Investment Strategy No.- 2 to Reduce Expenses-
How to reduce your expenses instead of buying a new car. You could consider buying a second hand car. If you are staying in a very expensive property and if your friends are very high. You could consider moving into another property. So think about all the things that you could do, which reduce your expenses and which can increase your income.
Investment Strategy No.- 3 to Think about Savings-
Now a sustained effort has to be put in to increase your savings. If you are not able to do savings without any planning, you will not be able to do anything.
Let’s look at one by one what are the 4 or 5 points. Mow let us look at one by one what are the things that you should consider and what are the things that you should plan.
Investment Strategy No.- 4 to Get help of from Your Financial Expert-
1st Step- that you have to do is look out for a professional financial assistant. If you have a financial planner, the mistakes that might process to approach towards financial freedom again. If you are a lack of experienced person, he will give you an understanding. That is why you should engage your financial planner.
Investment Strategy No.-5 to Protect Yourself-
How to do is protect yourself?
Protect yourself and your family from the financial disaster. That might happen due to an untimely death or due to incidence of critical for you or for your stuff. Now between the age of 25 to 35 you have taken a couple of influences. Some people would have your friends. You might be having an agency of insurance companies.
You have taken some of the services that’s fine. You have a policy. It doesn’t mean that you have adequate insurance. When you sit with your financial planner he will be able to assist you to find out how much of a life insurance you need to have and how much of a critical illness cover. You should be having now once you know how much your life insurance and a critical illness cover that you should have.
Now detection that the existing whatever the planning out and buy the balance amount of cover you need. Make sure the policies that you buy covers at least until your retirement age. If possible and if you can afford to take it up to 75 years.
Investment Strategy No.- 6 to Build an Emergency Fund-
The next is the given to attend the financial planning in the orderly manner is to build an emergency fund. Now in your review of past 10 years of your life you have noticed that you have build something. You could have put some amount in that fund. Some money may be idling in some of your savings bank account. Some money maybe there in the mutual fund account. Now all that you have to do it if any of this available in any of these accounts.
Calculate it properly. What it is meant to say is designated these accounts as your emergency fund. Once you designate the same amount as your emergency fund you should not be using this money for unwanted things of buying a site or buying a vehicle or doing something else are going on a vacation.
So identify this amount and say this is the emergency fund. The cap in the emergency fund that you have is not sufficient for you to sustain yourself. All that you have to do is using your savings. You have to build your emergency fund.
Investment Strategy No.- 7 for Retirement Fund-
The next thing that you should focus on is about your retirement fund. If you have already started something towards retirement Corpus building in the first ten years of your carrier between 25 to 35. Excellent fantastic. If you are not started a retirement fund in the last 10 years you should take it up on a war footing. That time is running out had you started. This is in the beginning of your career. You have literally had 30 to 35 years of time to build a retirement Corpus.
Now you are hardly left with another 20 to 25 years. Minimum 15 years for you to build the retirement Corpus amount of money. You should set aside to build your retirement Corpus. Increases your amount after year, if you do not start. This is a top priority in life unless you help yourself at this stage.
Your retirement can be pathetic, it can run into problems after problem in during your retirement. However small it may be, but make a beginning. You can add on as you go forward. The first thing you should do. After doing your insurance and building in emergency fund is to make a beginning towards building a retirement Corpus.
Investment Strategy No.- 8 for Children Education Fund-
The next thing that you have to focus on is your children’s education. The childhood need a large amount of money by the time. He or she starts college education can you read a really big amount of money. When the child goes to the post graduation studies you need to be planning for this right from the beginning of the things to keep in mind.
When you plan for child education this Is very very difficult thing to plan for children’s education. Lot of things are unknown in the child education space. E.g. you do not know which course your child is. You wanted your child to be an engineer or a doctor or something like that. Today the children are pursued to follow your profession where they find the interest.
So what interests your children will take up. Which courses they go for which country will be studying nothing is know at this point of time. So it’s a lot of if you share the simple philosophy to follow
In case of child education is more the money you are able to set aside. It is better. So make your funniest attempt to put as much as possible for your child’s education. But that should not come with a compromise.
You should not compromise the three steps.
- i. insurance,
- ii. emergency fund and determined never the less
- iii. Child education is a top priority at this stage.
Investment Strategy No.- 9 to Focus to build or Buy a Home-
The next thing that you should concentrate your focus is on or at home for you. Now many people are attracted to properties in the beginning of career itself. They will go and buy a bit property. But if you are living in some other part of the world, you are living in another city in the same country, you will not go and stay there is not practical to put a huge amount of money buying a house. So early before you buy a house make sure that you know exactly where you are going to go.
So unless you have a clarity about where you are going to go and leave it. Your way to go and leaving the house. Do not be in a hurry to buy a house always priorities. The things that have told you in the beginning that should be ok.
Simple Suggestion for Buying a House | Investment Strategy No.- 10 to Create MF or FD-
If you want to buy a house a simple suggestion for your comfort lies one another saving, what may be mutual fund, may be a Bank FD or anything. Start putting money into this compartment with an intention that. When the time is suitable for you that is the time. You use this money and buy that house that appears to be a more prudent strategy than to go and buy blindly a property which you are not going to go and live in.
Investment Strategy No.- 11 | If You have More, Make Extra Funds-
What next if you are got lucky person who is able to save. You have attended to all the points that have discussed before. If you are still left with a lot of savings. This is the time for you to work. You could buy that extra mutual funds or invest in real estate. You can venture into some private equity or you can invest in a business. A lot of possibilities exist. So if you have that extra savings that is the time for you. Concentrate on wealth building.
Activity do not neglect the point that out for the beginning of this writing. What you think about these processes which is told in this writing. What you think we would like to hear from you. Please comment if any of you are looking out to work as a financial planner. Our services are available to you could be living in any part of the world, could be in the middle East, be living in India. You could be living in any other part of the Globe. Get touch with us, We will be able to guide you to build a beautiful future in your life.
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