“Failing to Plan = Planning to Fail”?

What is Financial Planning?

Financial Planning is really simple, and no different from planning for a day out. You will only need to think of the 3 points below:

1) Knowing where you are now,
2) Where do you want to go and
3) How to get there.

1st of all, we need to know what are our current resources, our financial goals and how to achieve them in the most effective and efficient manner. Financial Planning is important to everyone, not only to the rich, and especially the not-so-rich. Ya, you get me right! Especially the not-so-rich! If you are rich, you still can afford to be complacent and get away with it. A not-so-rich, if don’t carefully plan and implement with discipline, you will suffer at the end of the road.

Money may not be the most important thing in life, but nevertheless, you can’t live without it! Every single thing revolves around money, even when I sit in the room and switch on my laptop (you will still need electricity to run your laptop, and you’ll have to pay for your electricity).

Financial Planning is a systematic way of organizing our financial affairs in the most effective and efficient manner in order to achieve our Life Goals.

Financial Planning actually help us to understand our Wants and Needs. Our Wants are infinite, but unfortunately, our resources are finite! There is always Trade-Offs or Sacrifices to be made.

Besides, it helps us to cope with difficult times. The only constant in life is Change and learning to cope with changes early will be a plus point! If one day, unfortunately you lose your job, can the money you save let you live your life on until you get your next job? If not, how can you save enough for that? You don’t save any money? OMG!

Also, with a financial plan in place, creating wealth will not be big fuss. Wealth creation is not a sprint but a marathon, as it takes time, discipline and a lot of financial stamina. With the help of a qualified investment advisor, you can have the most appropriate investments that suit our risk appetite to achieve our desired goals. In the current market, there are many investments available for you to choose. By adopting various investment strategies and proper Asset Allocation, slowly but surely, you will get your 1st pot of gold!