Planning, executing/implementing and monitoring are three keys to success. The same is true for your finances as well -- hence the relevance of financial planning.
Rajiv, aged 24, is working as a team leader with a Bangalore-based BPO, a great achievement indeed at such a young age. But what really amazed me was he walked into my office with a view to initiate financial planning! Not many young people show such kind of urgency towards planning for their future at such a young age. "So how does one get started?" was his straight forward question.
An important aspect to note is he has already taken the first step: understanding the importance of financial planning is the first step.
Text: Anil Rego. A CFA-PGDBA, Anil is the founder & CEO of Right Horizons, an end-to-end investment advisory and wealth management firm.
Illustrations: Dominic Xavier
Also see: Young Investor: Importance of Asset Allocation