Take Control... NOW

 (The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com)

Take control... NOW...

.... of your Personal financial planning...


Its good to be very busy @ your work, in your career, in your job... It's a sign of growth. But ignoring your personal finances for that sake is a certain peril. In an one day match if a team is chasing down a target, it has to keep the following things in mind before formulating the strategy: the wickets in hand, the run rate, the overs remaining. If any one is compromised, the game plan goes awry. Multi tasking is the key...

Same is the case with our personal lives. We must take control of our personal financial plan even if we are busy in our work. And thinking about it only during the tax saving season is the most unwise thing to do.

First things first....

 

# 1: Check your insurance cover, as a first priority: 


It's important to check your level of insurance cover. Is it sufficient or is there an urgent need to upgrade it.. Remember, you must atleast have 5 times of your annual income as your insurance cover. In lay man terms, the insurance is the cover for the family on one's absence.


5 times * Your annual income = Ideal insurance cover

And, in case, if you have fulfilled your insurance needs only to fulfill your tax obligations, then it demands your urgent attention NOW....

And why an urgent review?...... Because, uncertainty can knock @ your door any moment.... Risks are definitely on the rise.

 

# 2: Make your money work, very hard:


Because you are working really hard for your money..

aren't you? 

So, why would you be lenient when it comes to your money?

Money, if left in a bank savings a/c can only do this...

Imagine, if you leave Rs 1 lac in bank savings a/c for 20 years; Can you guess how much could it have grown after 20 years?

Rs 1.99 lacs

Imagine, you had put the same Rs 1 lac in an avenue which would have earned 15%, can you guess how much could it have grown after 20 years?

Rs 16.36 Lacs

That's the difference, and won't you know it's a huge difference to ignore... Just by smartly investing if you are able to make big returns, then why make your money sleep? 

And that's because of the power of compounding.......

ACT NOW..... Take control.... NOW



Speak to experts @ Money Avenues to act now and to take control of your personal financial planning...



 (The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com)

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