Some wonderful facts of financial planning
Investment – Sooner the Better
Everyone expects to make good amount of money with minimum investments. If you need Rs. 1 crore in 20 years and your expected return is 15%, you need to invest a certain amount per month from now? Will there be any difference in investment if you delay your decision of investment for 5 years? Let us check
How much you need to invest for 15 years = 16224/- per month, total investment – 29.2 lacs
How much you need to invest for 20 years = 7535/- per month, total investment -18.08 lacs
Is this not amazing? If you dont believe When you start early, the Power of compounding works and you make more money with less investment. Cost of delay is very high in achieving your goals.
Save more with your growing income, in general people dont increase their savings in the same ratio in comparison with the growth of their income. Small investments can make you wealthy if you do it with your wish. One should choose proper investment instrument to achieve one’s goals within time. One should always check with one’s financial planner before investing or plan your life & finance on