Sunday, 12 February 2012

Financial Freedom for Life - Is that possible for all?

Get financial freedom for life
Financial Freedom is the stage when a person no need to work to cover-up their daily expenses and keeping their lifestyle intact. But, is that possible for everyone? How can one attain this stage? Is there a systematic way to achieve this level? Yes, there are ways to achieve, if one follows certain discipline from their early age, Financial Freedom can be achievable in a defined period of time.

Start Investing Early:

The one important step towards Financial Freedom is "Start Investing Early". The earlier you start the gain will be more. This is simply due to the power of Compound Interest. I don't say start saving early, because mere saving is not going to help you in the long run. Inflation will eat away all your savings. Investing is the key word where one should be ready to take risk and put their money in potential stocks at periodic intervals. If you identify high worth stocks and invested, then your money will start working for you. Just believe every business exist in the world to earn profit. If you invested in the right business (stocks) then you are one among them going to share the gain.

Monitoring the Investments:

The next big step is "Monitoring the Investments". Why monitoring? As I said earlier, every business exist to earn profit. If they don't earn profit, they will be out of track and get buried in the competitive market over a period of time. In such a way your money will get lost if you invested in loss making stocks. You need to track your stocks and play the game wisely to keep yourself in the profit layer. It is vital to watch, watch and watch your money everyday, every week and every month throughout the year, the same way you watch if someone works for you. Here the difference is, Money is working for you.

Move to Safer Zone:

You have started early, invested wisely, monitored closely, moved the coins and gained profit. Now this is the time to move your eggs to the safer zone. How to move and where to move? This is the important decision for wealth creation as a result you are going to get Financial Freedom for life. You need to move your gains to the safer zone in a systematic way as you did while investing at periodic intervals. Again, its all depends on how much you accumulated, your age and risk appetite. I would suggest to go for Real estate, Govt. bonds, Gold, FD, Debt funds etc...

When to Start?

The ideal time to start investing is from your 20's, if you could start earlier it is great. Invest systematically at periodic interval till your 40's. Start moving your eggs to safer zone from your 40's till you attain 45.....Yes, you reached your goal...Financial Freedom for life.

How much to Invest?

This is again depends on your requirements and Life style quotient. Think, Forecast, Plan and Decide. Set targets for yourself and review at periodic intervals.

Not Good at Stock Picking:

If you are not good at stock picking, then fine, leave the job to experts. There are number of good Mutual Funds, Insurance ULIP plans available everywhere. Analyze the funds / plans, choose some of them and invest. Be aware, even you invested in Mutual Funds, ULIP plans, still you need to track your investments. Because its all YOUR money....the step stones to your Financial Freedom.

Start investing today and let your money works for YOU forever....
Image credit: Pixabay

1 comment:

eden said...

Nice post.

Thank you for your visit.

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