Assessing current wealth

This can be done by deducting all liabilities and debts from the total investment and Assets

Identifying Goal

  • Make a list of Goals and Segregate
  • Short term (Like Marriage, Buying a car)
  • Midterms (Going for Vacation)
  • Long terms (buying house, Child education, Child Marriage, Retirement)
  • Identifying the Fund you need and when
  • Once you identify the Goal arrive at the fund you need factor the inflation

 

 

The most important thing in financial planning is discipline and biggest enemy is Greed