Financial Planning

Financial Planning 

We all are worried about the old age if we are working in a private sector .Old pension scheme is no more even for government employees.Life expectancy have increased due to better medical facilities and with that medical expenses have also gone up.

When we are earning money in the beginning of our career we often forget to do the financial planning.If we can create financial literacy among the new generation then it will be very important for them to manage their finance in an  effective way.

Some important steps for financial planning are-

1) To start early

2) Identification of goals

3) Keeping inflation in view & right asset allocation

4) Sufficient term plan and Health insurance

5) To be consistent in planning

6) Having emergency funds.

7) Exposure to equity

8) Proper and timely review of asset allocation

9) Taking the advise of well qualified financial planner

10) To upgrade your skills for better earning

11) Avoid impulsive buying.

12) Invest in quality stocks.

13) Don't keep all the eggs in same basket.
It is rightly said that the  early bird catches the worm.If we start SIP (systematic investment plans) in the beginning of our professional career then we can beat the inflation through the longer time horizon.Equity and debt which one is better?If we have longer time horizon then we can go for equity.
Pure term plans are always better than traditional money back plans.Traditional plans are having very low returns.
We should have separate portfolio for different goals.

Some of the important stocks for investment which i have included in my portfolio are-

Date	Name	quantity	price
12/24/2015	Century ply	45	210
2/27/2015	Edelweiss financial	25	68.5
11/16/2016	ICICI bank	30	282
10/16/2012	IDBI Gold	3	3078
10/7/2013	Karnataka bank	25	179
3/2/2015	Man infra	25	43
9/15/2016	RBL bank	40	300
11/28/2016	Zee ent	445	75
1/17/2017	Axis bank	15	471
1/18/2017	NHPC LTP	50	31
3/7/2017	IDFC	30	60
3/7/2017	Power grid	30	200

  So lets start financial planning.