3 invaluable financial planning india tips for your retirement!

If you actually reflect upon it, you will realize that retirement is just like a good night’s sleep. After all, we struggle and work hard throughout the day for the pleasure of enjoying a good meal and a restful sleep during the night time. Similarly, we work relentlessly for years at a stretch only so that we can spend a comfortable retirement life. And your retirement life should be full of pleasures, because you have spent your entire life working towards that dream of enjoying during the latter stages of your life.

It is pretty painful to see people working hard their entire lives, yet not getting their fair share of enjoyment once they retire. This might be due to the fact that they had invested in a fraudulent retirement planning company or surprisingly not invested in any such scheme at all! Here are three financial planning india tips that will help you to plan your retirement better –

Estimate!

Ascertaining an estimate is very important. You should be able to decide how much money will suffice each month after you have retired. To determine this, you can use a financial planning calculator available on the website of every leading financial advisory service. Make sure that you keep in mind the inflation rate every year.

Choose a plan!

Once you have determined how much money would suffice, you should start looking out for a suitable plan. These days, you will find tons of financial advisory services offering loads of different retirement schemes. You should choose the one that suits your financial sensibilities. In a bid to have more money in the future, don’t sacrifice your present lifestyle. Choose a scheme that allows you to invest only as much as you can afford at present.

Try doing a side job!

With the ever rising inflation hitting us all hard, financial planning in india has become difficult. It is tough to save anything at all at the end of the month. If you are finding it difficult to put money in your retirement schemes, our advisor suggests that you can try out various freelance jobs during the weekends and make some good money!

Find out why you are in urgent need of financial consultants Bengaluru!

It was not too long ago when one day my son came home, looking sad and reserved. I asked him what the matter was, and he replied that one of the acquaintances that he regularly played football tried to put him down by saying how he owns better football studs than my son, who used to play with ordinary ones. But according to our financial means, that was all we could afford to spend on football studs. Anything beyond that would disturb our monthly budget as we just lived from foot to mouth without saving any substantial amount of money.

Nothing had hit me as hard until that day. The look on my son’s face made me realize that I haven’t done enough for the family, and it is high time I do something to improve our wealth’s health. It was then that one of my close friends recommended a few financial consultants Bengaluru to me. I had personally seen my friend’s transformation from an ordinary middle class person with literally no money in the bank to an upper middle class person with substantial assets. I trusted his word and set up a few informal meetings with the financial consultants.

After a few meetings with different advisors, I finally chose a financial advisor Bengaluru that I thought understood my financial situation the best. Over a course of a couple of years, my position has transformed drastically. While some of you might find this a little clichéd, this blog isn’t intended to sound like a tele-shopping advertisement even though it might. My bank balance improved, I stopped defaulting on my credit card payments, I’ve secured my family with health and life insurance schemes, and have invested my money in a couple of fixed deposits and mutual funds.

At the very outset, the financial consultant Bengaluru understood my financial position, my job, monthly expenditure, and lifestyle. We sat down together and he drafted a few financial plans that we could follow. We followed one of them and today I’m a happier person. And you know the happiest part? My son owns the latest football studs manufactured by his favorite brand.   

4 strangest money saving tips shared by a top financial planner!

Both money making and money saving have always proved to be complex tasks! It is difficult to make money, and equally difficult to save some. That’s why we are always broke towards the end of the month. But if our financial planner is anything to go by, then you can save money in the strangest of manners! And our financial advisor also adds that while these tips might look strange at first, they are very effective in the long run. Let’s have a look at these unusual yet interesting tips!

·         Save those fast food restaurant condiments – Yes, those small pouches of ketchup, oregano, herbs, and chili flakes that you receive from fast food restaurants can help you to cut down 10s of dollars every month that you usually spend on buying these things.

·         Invest in a bank that doesn’t issue cards – There are loads of small credit unions which daily wage workers use in order to deposit their savings. You should open an account with one such credit union which neither offers credit/debit card facilities, nor has a facility for net banking. This will ensure that at least some part of money that you invest remains untouched!

·         Ask for special introductory offers on TV and internet: Today, one can find a new TV service provider or Internet service provider opening up every month or so. These people usually come up with introductory schemes to attract customers. You can literally grab offers that will help you to save up to 50% money as compared to what your spend on your existing plan. These plans last from 3 to 6 months on an average.

·         Use coupons: Though not a usual practice of financial companies in India, many financial advisors even advice their clients to visit websites that give food and entertainment coupons in order to save up to 90% money on these things. Such websites offer dining coupons and movie ticket offers.

The Name of Financial Planning Company might make a difference when you want to choose an advisory, but look out for someone who can offer such practical tips as the ones mentioned above! 

The incredible uses of a financial planning calculator!

There are a lot of questions that strike our mind from time to time. These questions can range from whether your home was actually a good investment to how much money you need to save every month in order to secure your child’s abroad education! The answer to such questions lies in effective financial planning – one that needs proper calculation before one starts investing! Financial planning calculator is a tool that can help you to perform complex financial calculations in a matter of a few minutes. The calculator is available on the website of all leading financial institutions.

Financial planning calculators are varied. You will find the right one for every purpose, and there might be hundreds of such purposes. For example, you might want to plan out your retirement in such a way that your savings offer you a steady income every month, or you might be looking out for a way to increase your net worth over a period of a specified time! You will find a planning calculator for every such task, thereby making it really easy for you to get all the details that you need.

If you want to know how to use such calculators properly, you can consult financial companies in india. They offer financial advisors who can help you to understand the meaning of every step in the calculator, thereby making it easier for you to use the same. The advisors will also see to it that you understand certain concepts that most people cannot grasp. For example, if the present fee of a certain engineering college is Rs. 3 lakhs and your child still has 10-12 years before he will be joining college, then you need to save money by taking into account the inflation rate.

If the rate of inflation is 10%, then the cost of admission at the same engineering college 10 years on will be at least Rs. 12 lakhs to 15 lakhs! So if you are planning to save, you should start saving every month keeping in mind the futuristic rate. Financial planning in India has become easier with these calculators.