How many of you started planning for your biggest holiday?

A Fundamental of personal finance... ! Yes, it is very important to set the base and then built on it! But have you think what could be the first steps. Your first baby steps towards personal finance.

When we come to the planning stage, like setting up the goals. It is easy to say but it is tough. When you pick up your pen or your laptop and start writing. It’s really difficult. The biggest concern you may find that you don’t know what will happen 5 years down the line or 10 years from now. 

Most of us plan our holiday almost 2 or 3 months before .Your biggest holiday perhaps is your retirement. How many of you started planning for your biggest holiday? Maybe few of us have only planned.

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We trend to plan the things which we are aware of. Anything that we don’t know, not completely aware of or doesn’t have the knowledge we trend to procrastinate. But in today’s time investment is no longer is a choice but a necessary.

Given that our lifestyle is changing for that financial planning is very important.

First thing we have to do is to educate yourself and the second thing if you are not married then your marriage should be your primary goal but if you are married your child education , your retirement plan, Buying a house, your early vacation , paying your dues or buying a vehicle must be your primary goals 

If you have those milestone setup for your own self then you planned your goals and investment accordingly

It is important to set goals but do you know how to set correctly.

Step 1: Setting up for biggest holiday Dream

The first step in setting personal goals is to consider what you want to achieve in your lifetime (or at least, by a significant and distant age in the future). Setting lifetime goals gives you the overall perspective that shapes all other aspects of your decision making.

Step 2: Setting Smaller Goals

Once you have set your lifetime goals, set a five-year plan of smaller goals that you need to complete if you are to reach your lifetime plan.

Then create a one-year plan, six-month plan, and a one-month plan of progressively smaller goals that you should reach to achieve your lifetime goals. Each of these should be based on the previous plan.

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Step 3 : Staying on track

Once you've decided on your first set of goals, keep the process going by reviewing and updating your To-Do List on a daily basis.

Periodically review the longer term plans, and modify them to reflect your changing priorities and experience. (A good way of doing this is to schedule regular, repeating reviews using a computer-based diary.)

SMART Goals

A useful way of making goals more powerful is to use the SMART mnemonic. While there are plenty of variants (some of which we've included in parenthesis), SMART usually stands for:

• S – Specific (or Significant).

• M – Measurable (or Meaningful).

• A – Attainable (or Action-Oriented).

• R – Relevant (or Rewarding).

• T – Time-bound (or Trackable).

For example, instead of having "to sail around the world" as a goal, it's more powerful to use the SMART goal "To have completed my trip around the world by December 31, 2017." Obviously, this will only be attainable if a lot of preparation has been completed beforehand!

If you don't already set goals, do so, starting now. As you make this technique part of your life, you'll find your career accelerating, and you'll wonder how you did without it!

Things you should know about ULIPs

Whether you have just come into a large lump sum of money or have some money set aside to begin investing, there are a variety of ways to go about investing your money. It is important to do your research prior to investing. There are some mainstream ways to invest that can work for even a novice, but you should always weigh the risks with the probable gains.

As a new graduate, the first thing you should do is to lock down as much money as possible in savings. 

What you should instead do, live like a student a little longer. The first 2 years after graduation is when you should try to secure your financial future. Unless you manage your savings, it is hard to manage your investments.

If you are a single person just out of graduation, your goal should be to save half of your 12 lakhs in the bank. You should have enough bank savings to last 6 months of your monthly expenditure. Keep this in a fixed deposit. Once you are tight enough to manage this, proceed to the next step. 

Are finding you difficulty in Investment or Financial Planning? 

Seek advice of a financial planner who will make ease for you .Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning.

Start with balanced mutual funds that are fairly less risky. Get your toes in the water through these

Life Insurance

When an investor pays a life insurance company to payback money to them over a period of time in small increments, this is called an annuity. Depending on the specific company, the investor can choose to receive payments until he is deceased or can set up a stop date. Since the insurance company may go bankrupt, there is moderate risk involved, although many states cover up to $100,000 in the event of a company defaulting.

Banking

Bank accounts offer extremely low returns and are better used as a form of storing cash. Some of the types of accounts at banks include personal savings accounts, business savings accounts, personal checking accounts, business checking accounts and Certificates of Deposits (CDs).

Business

Building your own business is an extremely risky investment. Although you could become financially free and your own boss, there is the huge risk of losing everything. When starting your own business, do your research, put together a business plan and seek advice from others with experience.

Properties

Investing in real estate is another popular type of investment. Depending on your method of investing, real estate investing can become extremely lucrative if done in the proper locations and the correct way. You can purchase homes to fix them up and sell them for a higher price, or you can purchase homes to turn around and rent them to tenants for a slightly higher cost

In summary, the first rule of investing is to save. Unless you have sizeable money to invest, your above-market returns would not matter. Once you have built your safety net, go after mutual funds and then to equity funds/stocks.

What are the best options to invest money?

Whether you have just come into a large lump sum of money or have some money set aside to begin investing, there are a variety of ways to go about investing your money. It is important to do your research prior to investing. There are some mainstream ways to invest that can work for even a novice, but you should always weigh the risks with the probable gains.

As a new graduate, the first thing you should do is to lock down as much money as possible in savings. 

What you should instead do, live like a student a little longer. The first 2 years after graduation is when you should try to secure your financial future. Unless you manage your savings, it is hard to manage your investments.

If you are a single person just out of graduation, your goal should be to save half of your 12 lakhs in the bank. You should have enough bank savings to last 6 months of your monthly expenditure. Keep this in a fixed deposit. Once you are tight enough to manage this, proceed to the next step. ‘

Are finding you difficulty in Investment or Financial Planning? Seek advice of a financial planner who will make ease for you .Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning, 

Start with balanced mutual funds that are fairly less risky. Get your toes in the water through these

Life insurance 

When an investor pays a life insurance company to payback money to them over a period of time in small increments, this is called an annuity. Depending on the specific company, the investor can choose to receive payments until he is deceased or can set up a stop date. Since the insurance company may go bankrupt, there is moderate risk involved, although many states cover up to $100,000 in the event of a company defaulting.

Banking

Bank accounts offer extremely low returns and are better used as a form of storing cash. Some of the types of accounts at banks include personal savings accounts, business savings accounts, personal checking accounts, business checking accounts and Certificates of Deposits (CDs).

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Business

Building your own business is an extremely risky investment. Although you could become financially free and your own boss, there is the huge risk of losing everything. When starting your own business, do your research, put together a business plan and seek advice from others with experience.'

Properties

Investing in real estate is another popular type of investment. Depending on your method of investing, real estate investing can become extremely lucrative if done in the proper locations and the correct way. You can purchase homes to fix them up and sell them for a higher price, or you can purchase homes to turn around and rent them to tenants for a slightly higher cost

In summary, the first rule of investing is to save. Unless you have sizable money to invest, your above-market returns would not matter. Once you have built your safety net, go after mutual funds and then to equity funds/stocks.

Can money buy happiness ?

We all need money in our daily life in today´s world.

In times of depression we hear heartbreaking stories of people losing their jobs and homes. Saying to them money doesn´t bring happiness would be completely thoughtless and cruel. To the less fortunate ones money equals the continuing of their normal every day life - and that normal life is where we find our true happiness in lifeIn reality money is what brings the happiness. 

Lots of people are saying that money can't bring happiness because you will have fake friends and fake lives or whatever, if you have friends before you get rich or hit the lotto would they then be considered as fake friends? I don't think so, and why would anyone be naive enough to fall for a fake friend and not notice. Some say the love and happiness will be fake but so what? That person is still happy right? I'm sure no one will be happy living in a dump or the streets. Take a homeless person for example, do you guys think they are happy where they are at? No food and no shelter and no where to go. Lots of people say rich people have a bad rep, there are millions of rich people and I'm very certain at least one of them don't. 

Are finding you difficulty in money management ? Seek advice of a financial planner who will make ease for you .Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors,Online Personal Finance,On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning,

Wouldn't you want to get all you're loved ones the things they desire and see them happy? Wouldn't you want to get you're son or daughter a nice car or get you're daughter or girlfriend a beautiful dress? Yes those are all just luxuries that fulfills ones desire. To obtain happiness is to obtain ones desire. There are many wealthy people that have died happy, everyone just looks at the ones that didn't. . So yes - money can be a great factor in bringing happiness in life.

Still - often we hear stories of how these long working hours have caused problems in peoples personal lives because they don't have time for their friends and family. Their life values are heavily tipped on one side and one day they may find money is the only friend they have left. Can money buy happiness in such a situation? Money and happiness sure don't seem to go hand in hand in these cases...

Where then lies the balance between personal life and a life spent pursuing money and possessions? How to balance the stress

You are as poor as much as you worry about money -

If you are a rich man but are constantly worrying about money, than you are poor. This is because even though you have access to an abundance of money, you are still worrying about money all the time. This works the other way as well, you can have access to little money but if you never worrying about money you are “rich” because your mind isn’t fixated on what you lack.

Money can buy the freedom not to think about money -

The more access you have to money the easier it is not to think about money. You don’t have to constantly question whether you can afford something at the grocery store or worry how you’re going to pay your bills. Not worrying about money can free up your mind to think about other things that can make you happy.

Consider Spending Money on Others - 

Most people think that spending money on themselves will make them happier than spending it on other people. Yet, when researchers assess happiness before and after people spend an annual bonus, people report greater happiness when they spend the bonus money on others or donate it to charity than when they spend it on themselves. This occurs regardless of how big the bonus was. One reason for this phenomenon is that giving to others makes us feel good about ourselve

But in end Money is not everything,why? 

Because if it brings in our life so why people are going to die if money is everything or it can buy every thing so it can also buy LIFE ,but it cann't .Althoug it is necessary for fulfill our needs but if is considered as every thing, so it is simply wrong...

Know the Tips of Investing in Child Insurance Plans.

The rising cost of education is troubling Indian parents. More than 60% of the respondents in an online survey this as their biggest worry. This was followed by lack of knowledge, not saving enough and starting too late.

We hadn't included the biggest worry-the risk of their own untimely death-as a choice. We should have. According to the National Crime Records Bureau statistics, an Indian dies in an accident every 90 seconds.

It's a terrifying thought for a .. 

Child Insurance Solutions are insurance plans that take care of your Protection and Savings needs for securing the future of your children. As a parent, one of your most important goals would be to make sure that your children have a bright future and lead their lives comfortably. These solutions can help you achieve that by saving for your children’s higher education at a prestigious university.

Why Child Insurance is important?

1: The time and resources to grieve.

There is likely nothing more devastating than the loss of a child. In such an unfortunate and untimely event, day-to-day responsibilities might be overwhelming - the demands of your job, paying the bills, and having to care for other children in the household. The reality is you might not have enough paid sick or vacation time from work to take care of yourself, your spouse or your other children during this difficult time. If the unthinkable were to happen, would you have done enough financial planning to have the resources to go back to work on your terms?

Are you finding difficulty in getting insurance for your child? Protect their future Seek advice of a financial planner who will make ease for you .Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning.

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2: Cash Value and living benefits.

The cash value earned from a permanent* life policy (such as whole life, universal and variable life) can be withdrawn or borrowed against, providing living benefits that can used by your child as he or she gets older for many things such as:

• College tuition and expenses

• Financing a vehicle

• Paying for a wedding

• Collateral for loans

3: They'll always be insured.

There are a number of factors that can affect your child's future insurability. High blood pressure, diabetes, obesity and cancer are just a few of the many health complications that might prevent your child from being insured down the road. One of the primary benefits of purchasing a life insurance policy when they are young is that they will always be covered regardless of their future health as long as premiums are being paid.

4: Guaranteed insurability:

Some life insurance policies for children come with an optional guaranteed insurability rider/endorsement that may available for a nominal cost. As your child grows into an adult, this rider allows you to buy additional life insurance above the face value of the current policy (on specific dates and in certain increments) regardless of his/her health status at the time. Usually, the older the child gets, the fewer dates the policy owner has to purchase more life insurance and in some instances, after a certain age, the rider may not be exercised.

5: A locked-in rate.

Life insurance premiums for minors can be very affordable. Buying life insurance for your child now could give you an opportunity to lock in that rate for the life of the policy. As long as the required premium is paid, the policy will stay in force.

Policies vary greatly from company to company. A life insurance professional can help you select the right policy type and optional policy riders so your child will get the most out of their policy - even when he or she is grown with a family of their own.

"A dream that never comes true" – Retirement vision.

Early retirement planning is identical to conventional retirement planning with one big exception – time

Wish you could retire right now?

Give up the rat race, embrace a life of independence, reduce your stress, and have more time for what you value most — your family, Education, travel? That might seem like a fantasy but early retirement is within reach of most western people, if they would only take the steps to make it happen

Indians have a different mindset from the which is completely different from people in the Western countries 

In India, we generally start off earning pretty late, especially the salaried class. Due to huge unemployment,

We need to go on raising the eligibility bar and today a post graduate degree has become bare minimum for good jobs. When we start late, we necessarily reach our goals late. 

There are some other socio economic reasons. First, since we do not have Social security cover of any sort, we have to make sure that we save enough for our old age. Normally your Provident fund etc. grows with your number of years in service and terminal benefits are also maximum if you serve a full term. So everyone wants to work till superannuation. This is an economic reason. The socio factor is, by tradition our family bondages are thicker than those in West. Hence we not only wish to save for ourselves but also want to leave a good slice for our children, which is not very heard of in the West. All these accumulations need time and hence early retirement is ruled out.

Early retirement planning is identical to conventional retirement planning with one big exception – time. You have less time to achieve your financial goals, and more time that your money must last after retiring.

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How to make oneself financially secure at retirement?

Early Retirement Tip 1: Have a Plan :

The first mistake most people make is they lack a written plan to build financial security.

You can’t put the formula for financial success to work for you without a plan to accomplish it.

It may be a simple process, but it won’t happen randomly. You make it happen by taking action. A written plan with goals provides the road map and is a necessary first step.

Are you planning for early retirement ? Seek advice of a financial planner who will make ease for you .Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors.

Early Retirement Tips 2 : Saving For Future 

The first step to financial independence is figuring out where your money is going now. Monitoring and, if possible, reducing, your current spending has two important benefits: it frees up more money to be put aside in savings, and it reduces the amount you need each year to live on, thus lowering the total amount you need to save.

Rule of thumb is that, before you retire, you should save 25 to 30 times’ your annual spending.

While the 4% rule has come under attack in recent years — many financial experts argue that it’s too optimistic a number given the outlook for lower financial-market returns in the future — early retirees say it worked for them even in years when the markets performed poorly, such as the market downturn in 2009. The key is flexibility; that is, being able to trim costs so that you can withdraw less in years when the market is down.

Early Retirement Tips 3: How to Invest?

The most important aspect of investments is “Financial discipline” as most often than not, we may falter and do not adhere to the objective of investment in the long run, it is easier said than done, as many a time we may discontinue, withdraw or utilize the funds earmarked for a specific goal (retirement) for other reasons due to many reasons be it medical emergencies, or changing aspirations or opportunistic investments etc.

There are numerous investment vehicles but to choose the one best suited and customized is once again a difficult task. When you do this, you have to determine the inflation adjusted corpus required at vesting age and the monthly amount of Investment needed to achieve the same.

Early Retirement Tips 4 : manage your taxes

Just as when we’re working, taxes are a consideration in retirement, whether you retire early or not. It’s crucial to include an estimate of your annual tax bill in your “total savings needed” amount.

Your tax bill may come in a variety of flavors. If you’re pulling your income out of a taxable brokerage account, you’ll most likely owe capital gains on those distributions.

Cinderella beautiful Girl - If the Shoe Fits

Are you facing challenges in investment ? Is investment important in financial journey.. ?

During our childhood, we learned a story about Cinderella and her adventures. Just have a small recap of the story Once upon a time, there was a beautiful girl named Cinderella. She lived with her wicked stepmother and two stepsisters. They treated Cinderella very badly. One day, they were invited for a grand ball in the king’s palace. But Cinderella’s stepmother would not let her go. Cinderella was made to sew new party gowns for her stepmother and stepsisters, and curl their hair. They then went to the ball, leaving Cinderella alone at home.

Cinderella felt very sad and began to cry. Suddenly, a fairy godmother appeared and said, “Don’t cry, Cinderella! I will send you to the ball!” But Cinderella was sad. She said, “I don’t have a gown to wear for the ball!” The fairy godmother waved her magic wand and changed Cinderella’s old clothes into a beautiful new gown and send her to the palace.

When she entered the palace The prince had fallen in love with Cinderella and wanted to find out who the beautiful girl was, but he did not even know her name. He found the glass slipper that had come off Cinderella’s foot as she ran home. The prince said, “I will find her. The lady whose foot fits this slipper will be the one I marry!” The next day, the prince and his servants took the glass slipper and went to all the houses in the kingdom. 

They wanted to find the lady whose feet would fit in the slipper. All the women in the kingdom tried the slipper but it would not fit any of them. Cinderella’s stepsisters also tried on the little glass slipper. They tried to squeeze their feet and push hard into the slipper, but the servant was afraid the slipper would break. Cinderella’s stepmother would not let her try the slipper on, but the prince saw her and said, “Let her also try on the slipper!” The slipper fit her perfectly. The prince recognized her from the ball. He married Cinderella and together they lived happily ever after.

Lets translate this story into our personal Financial journey. Like thee prince we have to set a specific goal which we need to achieve, the shoe is the avenue we choose to invest and all those women who tried to fit the shoe are the wrong investments. Bad investments can be an enemy to your cash flows if not discarded and replaced with a more effective, growth oriented and appropriate investment option.

Are you facing challenges in investment ? Is investment important in financial journey.. ?

Yes Seek advice of a financial planner who will make ease for you.Just leave a missed call @022 62116588 and have a personalised financial planner for FREE. MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance,Retirement Planning Advisory, Free Financial Advisory, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning,

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Our investments have always been hampered with over cautiousness, fear of volatility and resistance to accept a change in the investment ideology. This is largely due to lack of awareness of the various options available for investing. We still end up doing traditional, non productive and obsolete investments which sometimes don’t even beat inflation effectively. So let’s find out what does an appropriate investment tool means and how it can help an investor in achieving the goals effectively.

Use these tips and key steps to help find an investment that’s right for you.

1. Review your needs and goals.

2. Consider how long you can invest.

3. Make an investment plan.

4. Diversify!

5. Decide how hands-on to be.

6. Check the charges.

7. Investments to avoid.

8. Review periodically – but don’t ‘stock-watch.