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Posts Tagged ‘financial planning’

To make family financial planning, must first determine the financial objectives first. Prioritize your financial goals. Though everyone has a different goal, generally a family financial plan as follows:

1. Buying a house
2. Setting up education funds
3. Buying a motor vehicle
4. Entertainment & Holidays
5. Savings

What is often overlooked is:

Preparing a child marriage fund
I often hear from close relatives who will marry their children, seeking a loan for a wedding.

Setting up the pension fund
The biggest problem in this beloved country, when retirement arrives it seems life is about to expire. Career stops, activities will be reduced a lot, the income stops. Can be ascertained only within 5 years after retirement comes, the family will have difficulty in liquidity. Will lack the means to meet the daily needs.

Preparing for family protection
Many people are reluctant to hear the word “insurance”. Generally people do not like-minded insurance because that money will be lost. Insurance is actually needed to provide protection against uncertainty.
1. Death was certain, the uncertain is the time. Died too soon to make the family left behind tribulation.
2. Pain is unavoidable and not knowing when to attack. Money collected for many years to run out in a heartbeat if need be treated in hospital.
3. Accidents can happen anywhere and can not be avoided. When the accident occurred, causing total permanent disability the family will suffer, especially in terms of material.

Why does this happen? of course because we are not prepared carefully. The reasons commonly asked is: because it is difficult to set aside money, there are still many needs, retirement or married children are still old, still young to set up pension funds and other matters. And when the time is nigh, not easy to prepare.

When you asked who is the band that still victorious after decades of a career, not many choices that you can ask. One of them might be Rolling Stones. The band has sold 200 million albums and making a profit of more than 2 billion U.S. dollars since 1989 with profits of more than 500 million dollars just from the last tour. Indeed, although the personnel are almost entering the age of 70 years, they still appear entertaining millions of fans around the world.

From this band, you can also get a few lessons about personal finance is very valuable. Do not believe? See the proof:

Be owner of your own career
These rockers have established their own record company. The goal, to be more free in terms of creative and create a larger share of the profits for themselves. You know, in the music industry often musicians are not able to get the freedom to work (because the record company would want a commercial songs.) On the other hand, has many stories about the musicians who did not get a fair share of awards for their creative work.

So, the Rolling Stones want you to think as the owner of your own career, not just employees of your company. No matter what happens to the company, you need to have the skills necessary to serve you well on every employer. Similarly, the Rolling Stones who did not want to depend on a certain record company and try to manage your career without needing to depend on one employer only. One of the best job that provides security in terms of flexibility and adaptability to change.

No big pegs rather than the pole
Although known for a lavish lifestyle, the band has a good financial condition. They spend a lot of money for homes and luxury cars, but they do have more income. Mick Jagger, for instance, despite squandering his money during this, his personal wealth estimated at more than 300 million U.S. dollars. One of the lessons we can take, although you never can have an income of Mick Jagger, you can still improve the quality of life by not spending money exceed your income.

Maximize your earning period
Rock bands or become suddenly popular one-hit-wonders (the term for the musicians that soared just over one hit song, and then disappear), usually do not have a big chance to make more money. However, the longer the Rolling Stones even more rich, much less their fan base grew mature, which means also more prosperous.

Most people follow his career this way the Rolling Stones. Menabunglah as much as possible while you’re at your productive years. Age 22-30 years is the period to build wealth when you may not have a child. The sooner you save, the more savings you’ll bloom. Or, if you are young and have jobs with high salaries, but you want to work more relaxed to give more time for parenting later, menabunglah as much as possible when you are still paying big. Thus, you will more easily enter a period of transition to a lower-paying jobs or be full-time housewife.

Why retire if the job is your hobby?
Mick Jagger and his friends are still doing their world tour at age who entered the late ’60s. But, you know, it does not anymore they do because they need money. If you want to be able to work as long as possible like the Rolling Stones, make sure you do something you love, not because you are not saving enough for retirement.

Maybe you’ll say, rock bands can not serve as an example to discuss the importance of financial planning. However, the ability of the Rolling Stones in making money almost as tenarnya with how they create music. And, although you are not an artist or artists like the Rolling Stones, as an employee or self-employment also you can learn the principles of this group indicated.

Another financial articles

Many novice investors who feel stuck with their investment choices, and then blame the other party because of his choice to invest. According to financial planners Ligwina Hananto, the most common mistake is to potential investors to choose the product, entered in it, and puzzled by his choice.

Determining the initial goal when investing the same with financial planning (financial planning). Create a financial plan with the couple, who shared duties with a role to monitor whether financial planning is going well. By having good financial planning, it means you have a clear purpose, including for investment.

If you are a mutual fund investment options, financial planning firm and clear in the beginning will be very helpful. Mutual funds are liquid. You can save or withdraw at any time. Well, this convenience can mess up if you are not disciplined investment using funds invested in mutual funds.

It takes discipline to be more wise use of investment funds, in this mutual fund. Return to the original purpose stated in the financial planning will largely determine the success of these investments.

Well, if the financial plan has been clearly established, it will be easier for you to determine the choice of investment products. You will not be difficult when the future will develop an investment portfolio. Is a stage in the investment portfolio (mutual funds) to determine how your investment funds will be used later. This will affect future investment targets, including the results that you’ll enjoy with the right portfolio according to your needs and your abilities.

If you’re still confused how do financial planning, whether short, medium or long term, whichever is most appropriate for you, many sources of knowledge you can use, through a variety of workshops or talk about financial planning, or books.

With this knowledge you do not have to pay for the services of financial planners to control the extent of your investment running well or not. The advantage with using the services of financial planners, you can get a recommendation of investment products including a portfolio based on experience in preparing these financial practitioners.

Whatever your choice, you should first identify the needs, abilities, and your current financial condition, and set a goal before the origin of select investment products.