Hi ,
The year 2013 comes to a close ,and we look upon a great beginning of the year 2014 . With the start of every year , every one of us have either a small list or a long list of resolutions .
I also had some resolutions in 2013.Unlike all the previous years where resolutions were made only to be broken , this year came with a difference and determination. I had resolved that:
1) I will spread awareness about importance of savings and planning finances across 10,000 people this year.
2) That my work will not impact the time I spend with my family .
3) That I will spare some quality time on my hobbies which make me happy .
And worked towards keeping these promises which I made to myself .
Today I can proudly look back and pat myself for fulfilling all the above resolutions I had made. So the only change I made was to list down the action steps which can ensure fulfilment , that’s what is planning all about.
- Put things on paper ,
- understand where we are today ,
- devise strategies ,
- implement the strategy and periodically monitor it ,
- make changes where necessary to bring the plan back to track.
I knew I cannot talk to 10,000 people and there came an idea about writing ,where I have practically achieved so many views on my blogs, mails and network . I chose to work on flexible timelines and with an entity which believes in balanced work life .I joined a musical group and consciously dedicated time to my hobby . That was about me .
About 2013,this year brought with it very interesting revelations .I held one to one discussions with individuals on taking their life financial plan forward.
When I asked them , when can one call himself / herself “Wealthy”.
Is it when we cross a threshold income level , or when we buy a premium property or when we have luxurious possessions , or is it when we can spend lavishly?
Interestingly , I got different responses , and I am sure anybody can relate to these . Some of the responses were :
1. When I am debt free and have no burden of liabilities on me.
2. The day I have income generating assets and I do not have to depend on a paycheck .
3. The day apart from expenses , I can also save prudently.
They then disclosed to me that in the process of creating wealth , they tried out various options .After trying out all options , they had come to me to achieve the above …
- They tried investing in the best products they are aware of , and were able to achieve success in saving to some extent . But are not confident that the direction they have taken is right or wrong .
- They tried purchasing insurance , but realized that its an expensive method of accumulating post death benefits but when we are living , we don’t see it fulfilling our needs to a large extent . We are talking about longevity and taking care of responsibilities ,which is not strategized for at all .
- They tried the financial planning templates available online , but never got a chance to take it to execution as there was no personal guidance .
So what is their takeaway from the financial planning exercise ,which the above couldn’t provide :
A very familiar response I get from most of my clients:
- The Financial Planning exercise gave them a clarity on action steps to be taken.
- A pure mathematical analysis helped them to verify their situation today , corrections to be done and the steps to be taken in future to achieve what they aspired for .
- Most importantly , here was a situation where they had a planner with them who could assist them in analysing the past and implementation and execution of the plan for the future.
- They now have more clarity in where they are heading .
So here comes a day , when I feel gratified for being the reason for many people’s confidence and at the same time ,lisiting down new benchmarks to achieve, creating new resolutions for 2014 .
Are you?
Here’s wishing the best !
Have a great , thoughtful and full of action year 2014 ahead !!!
Best regards
Deepa
9849620066
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Deepa Nittala 