All information (including but not limited to the property area, floor size, price, address and general property description) on the GS Townships website (“Website”) is provided as a convenience to you, and in placing the information on the Website, GS Townships endeavours to provide up to date, accurate and correct information. However, readers are requested to get in touch with the authorized business development executive for actual information as on date. In no event will G S Townships offer any warranty on the information made available, or be liable for any loss or damage including without limitation, indirect or consequential loss or damage about, the use of information in this website. By using or accessing the website, you agree with the Disclaimer without any qualification or limitation. Design, specifications, floor plans, brochures and interactive plans etc., are subject to change without prior notice. Computer generated images; walkthroughs and render images are the artist’s impression and are an indicative of the actual designs. GS Townships do not accept any liability (direct or indirect) for any injury, loss, claim, damage or any incidental or consequential damages, including but not limited to lost profits or savings, arising out of or in any way connected with the use of any information, or any error, omission or defect in the information, contained on the Website.

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16 September 2018

Financial Planning for Beginners

Financial Planning for beginners - this blog is dedicated to young professionals who recently started their career/investment. A million dollar question always is what is the right time to start investments. Actually the best time to start investments is while studying 11th or 12th grade. I read in article that in Israel students have to invest money and earn considerable amount of profit to complete project which is pre requisite to pass 10th standard. In our country. one should atleast start investing when he starts earning, no matter how small is the earning. I am trying to give suggestions below on where to invest in order of preference which will simplify the whole process of investing for beginers.

1. Health Insurance: First things first, one should think is Health Insurance. One should plan for him, his family including parents a reasonable amount of health insurance. Even if the company is providing health insurance, one should plan a little amount of health insurance which will add up to next year if not utilized. In this way he can build a considerable amount of backup when he actually needs it. Generally most of the health insurance comes handy in 60's.

2. Life Insurance: Secondly, one must plan considerable life insurance. By Life Insurance, I mean only term insurance. Golden Rule here is NEVER MIX INSURANCE WITH INVESTMENT. One should say NO NO to market linked insurance plans. So buy a decent term insurance for family to survive in case of unforeseen conditions. These days pure term insurance is very cheap.

3. SIP: Systematic Investment Plans in mutual funds. One should plan SIPs in mutual funds as early as possible with a very small amount as sip and with a long period in mind. This will give many benefits: a. It inculcates systematic investment habit. b. Your financial planning takes a start as you need to curb expenses every month. c. It trains you for taking a bigger loan like home loan. d. For doing SIP one should do some market research which makes one familiar with some financial jargon as well as financial web sites. Golden Rule again here is INVEST ONLY IN DIRECT FUNDS.

4. Stocks: After getting familiarity with mutual funds, one actually gets knowledge on actual underlying assets, the shares. Shares are the best way to learn financial descipline. One can be easily carried away by beginers luck or greed. Buying a particular stock after reasonable research at right time and right price and selling it off at right time booking profit/loss, is a very tough game. But teaches important lessons of business decisions.

5. Real Estate: After considerable savings, one should think of buying some property. Buying a land in upcoming areas doing a thorough legal check is the best thing to do. Golden Rule again here is FULLY LEGAL PROPERTY IN APPROVED LAYOUT. Go with bank loan even if you have the entire amount, for a small sale consideration. One should plan to buy a home in his thirtees. Again location should be very near to either your workplace or childrens school or both. Secondly, either reputed builder or construct on your own buying land.

Hope above points will help and motivate beginers to invest. Apart from all these, the best investment is CHARITY. One should start charity as soon as possible in one's life. Even motivational writers wrote that highest satisfaction comes only from giving (Book Title: The Magic of Thinking Big). Happy Investing.:)

Note: The views expressed above are from the pen of the author with no liability attached either to the company or writer. Users are advised to cross check details before taking any decision.