Saturday, May 1, 2010

Creating a Financial Plan

Takaful Ikhlas : Creating a Financial Plan

takaful ikhlas

Having a financial plan is essential. It can help you eliminate your debt, save for the things you truly want and prepare for a comfortable retirement. If you are tired of living from paycheck to paycheck, perhaps it is time to start following a balanced financial plan.

There are three main aspects to financial planning: Budgeting and saving; investing; and retirement and estate planning. You must work on all three in order to have a balanced financial picture.

There is no way around it. No matter how much you dislike the idea, budgeting is one of the main requirements of successfully managing your finances. It isn't the negative task that many people assume it to be. It isn't a financial diet and it isn't something that deprives you of the things you want takaful ikhlas

Begin with your current income. Take a look at the last ten years of your gross income and figure out what the average growth rate has been. This will give you a good estimate of what your income will be from now until you retire. You can total up your total income and then subtract your total expenses. This is not going to give you an exact number but a general of idea of where you are financially and where you need to go takaful ikhlas
takaful ikhlas

Once you have your income determined. Then you need to make a list of your expenses. This will help you determine what money is going to be left over for investing. If you are a young investor, you will probably have very little disposable income. However, put aside any extra money into a high interest money market account. Overtime you will have enough money to begin investing. If you have a decent amount of money, you are placing into savings each month, then you have money to invest. If you are interested in creating a financial plan and begin investing, you may want to contact a financial advisor who can help you build a plan and financial portfolio that is customized for your goals.takaful ikhlas

Becoming self sufficient is the key to financial freedom. Investing is a way to create financial stability so you no longer have to depend on job security, promotions, raises, or the lottery. Think about the future. If you have not planned for your future, then no one has. In your retirement years you want to be sufficient enough to support yourself, enjoy the last years of your life, and not be burden to your loved ones. If you want to live your life without the nagging stress of financial problems then consider starting your financial plan today.
takaful ikhlas