Hoping things go well isn’t financial planning, that’s wishful thinking. Financial Planning is all about helping you comfortably tide over the many life events you experience in your life.
So before you start investing, ask yourself one question: What exactly are you saving and investing for?
This is a serious moment of introspection. Because, in order to invest for the future you are cutting back on spending your wealth now. There must be some future purpose for this sacrifice—some goal of tomorrow’s spending which outweighs the pleasure of today’s spending.
Planning for Life events is not just an easy way to help you manage your investments, it is necessary for maximizing how effectively you manage your money and investments, including knowing when you can afford to spend more than you might think today.
Also, all of us have some special dreams or goals that we want to achieve in our lifetime, goal-based investing allows you to bucket your money according to its purpose and remove them when you need the given amount.
For your convenience, we have listed some Life events and goals that people have, you could have many more. We would love to hear that from you.