Plan for your Life Goals
The Goal Planning Stage is the Second Stage of Financial Life. During this stage, a person usually completes the things listed in the foundation stage.
If you don’t know about the first stage of Financial Life, click here.
But he is not aware of the following things-
- An amount required to be saved for his retirement
- Understand the concept of net returns, his investments are reaping, considering the inflation
- Investing in tax efficient inflation beating instruments
- Understand the concept of Asset Allocation
- Amount for important goals like child education / new house
To move out of Goal Planning Stage you need to take care of all your life goals, map the life goals with your investments, understand investment concepts like beating inflation, tax-efficient investments, investing with a plan, understand the concept of risk, understanding short-term and long-term investments.
Read more: How to Create Wealth?
Watch the following video, to know more about Goal Planning Stage.