“Money, if it does not bring you happiness, will at least help you be miserable in comfort.” – Helen Gurley Brown

When you come across the term ‘Millionaire' what image comes to your mind? Do you see yourself as one in few coming years with your current financial resources?

“Money, if it does not bring you happiness, will at least help you be miserable in comfort.” – Helen Gurley Brown

If not, Are you one of those people who spend their life trying to accumulate money and keep sacrificing on even basic things in life and still end up discontented? It's high time you stop wondering what could be wrong and learn about the simple mistake you are making today.

“It's the lack of knowledge of FINANCIAL PLANNING.”

This one thing can change your life drastically, and here I don't just mean financial life. You would agree with me that your financial life has a big impact on your personal life. If you are managing finances well, relations on personal front go much smoother; especially with your spouse.

The concept of financial planning is no longer alien to individuals; however, I would still start with a basic introduction here.

Financial planning can be understood as an evaluation of a person's current financial state and making sure that the available financial resources are utilized in the best possible way towards achieving the financial goals of his / her life. In other words, financial planning is referred as a holistic approach towards managing an individual's financial life today… for today and tomorrow.

Financial planning ensures that you have adequate amount available to meet your financial goals as and when they arise at every stage of life. It helps a lot to take help of a professional in case you feel you do not have adequate knowledge on the subject. Researches have shown that an investor who follows a professional's advice is likely to do 2.7 times better than the one who is managing his finances on his own.

Financial planning starts with determining client's current financial situation which is then followed by other steps. Here are those:

The most important thing to note here is that this is not a one-time process. We are human beings; no two days for us are exactly the same. Our life conditions, emotions, external conditions...in short, everything in and around us keeps changing. So how can something like financial plan which is so closely related to life can remain unchanged? It has to be modified and upgraded with the changes going around.

Another fact, which we would not want to miss, is staying in discipline. Many of us, I assume think that discipline kills the spirit to have fun in life. Might be right sometimes, however to be able to enjoy life to its fullest, it is critical that we do not compromise on a disciplined financial life at any cost. Starting early and staying in discipline is the key to ensure that you retire as a millionaire.

If not, Are you one of those people who spend their life trying to accumulate money and keep sacrificing on even basic things in life and still end up discontented? It's high time you stop wondering what could be wrong and learn about the simple mistake you are making today.

“It's the lack of knowledge of FINANCIAL PLANNING.”

This one thing can change your life drastically, and here I don't just mean financial life. You would agree with me that your financial life has a big impact on your personal life. If you are managing finances well, relations on personal front go much smoother; especially with your spouse.

The concept of financial planning is no longer alien to individuals; however, I would still start with a basic introduction here.

Financial planning can be understood as an evaluation of a person's current financial state and making sure that the available financial resources are utilised in the best possible way towards achieving the financial goals of his / her life. In other words, financial planning is referred as a holistic approach towards managing an individual's financial lifetoday… for today and tomorrow.

Financial planning ensures that you have adequate amount available to meet your financial goals as and when they arise at every stage of life. It helps a lot to take help of a professional in case you feel you do not have adequate knowledge on the subject. Researches have shown that an investor who follows a professional's advice is likely to do 2.7 times better than the one who is managing his finances on his own.

Financial planning starts with determining client's current financial situation which is then followed by other steps. Here are those:

The most important thing to note here is that this is not a one-time process. We are human beings; no two days for us are exactly the same. Our life conditions, emotions, external conditions…..in short, everything in and around us keeps changing. So how can something like financial plan which is so closely related to life can remain unchanged? It has to be modified and upgraded with the changes going around.

Another fact, which we would not want to miss, is staying in discipline. Many of us, I assume think that discipline kills the spirit to have fun in life. Might be right sometimes, however to be able to enjoy life to its fullest, it is critical that we do not compromise on a disciplined financial life at any cost. Starting early and staying in discipline is the key to ensure that you retire as a millionaire.

*The calculations have been done for a period of 20 years. Interest rates have been assumed annual.

Here you can see that by investing just INR 660 per month for 20 years, you can accumulate a million. And if you can manage to invest INR 6500 per month, you can retire as a CROREPATI.

Feels great right!!!

So what are you waiting for...start today and stay disciplined.