Specific Goal Based Planning

As a parent, you would not like to compromise your child's bright future regardless of the rising cost of living. Most of the parents start saving for Child Education from the birth of Child, which is a great. You too need comprehensive financial planning for your child's education/ developmental needs. Here is the 5 step guide for your child's future planning.

• Set a Target Date

• Set a Target Amount in Today's Term

• Find out the Amount you need on target date

• Estimate the return which you can

• generate over your investments

• Calculate per month Contribution

Owning a house has been a dream in almost all of us. But it's undoubtedly a big decision in anyone's life. There are few monetary aspects that matter in taking the big decision. Ask yourself the following questions before going to purchase a house:

• What is the future value of the dream home I want to buy?

• Will I have enough savings to pay Loan EMIs?

• What will be the total cost of buying house?

• Am I having adequate investments to make the make down payment?

• Can you afford to take the extra burden or seem better to stay in a rented house? Analyze your monthly spending and judge your affordability.

One of the many goals an individual need to keep in mind is the retirement. For most, retirement may seem far away, but the importance of starting now cannot be understated. In fact, the farther you are from retirement, the better placed you are in achieving the objective.

First, why we need to do retirement planning? The answer is simple. Retirement planning aims at capturing your financial requirements during your retirement. It is assumed that after retirement you will not be working. It means that there won't be any source of income to support your household requirements. Naturally, you will need to live off your savings.

How much money would you need at the time of retirement? Is your current saving good enough to last your life? Is there anything you can do to make sure you have sufficient fund at retirement?

These questions get answered in retirement planning. The plan will tell you the retirement fund you will need andinvestment avenues you need to deploy in order to build the retirement fund.

And about the time – the more time you have, the better it is. Starting early gives you that crucial edge and comfort in handling your finance.