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Investment Plans are financial products that provide the opportunity to create wealth for future. Investment plans offer to help individuals in disciplined and periodic investment into different funds overtime so as to achieve their future financial goals.
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What is an Investment Plan? Investment Plansare financial products that provide the opportunity to create wealth for future. Investment plans offer to help individuals in disciplined and periodic investment into different funds overtime so as to achieve their future financial goals. The first step in planning your investments is to figure out the right investment that fits your profile and needs. Investment planning requires choosing investments carefully after doing adequate research and not falling for quick-buck schemes that promise high returns in a short time.
When should you start investing in investment plans? Investment is a journey and not a destination. It is a process where you will be making a series of financial decisions with one goal, earning returns and achieving your financial goals without taking too many risks. Investing when you're young is best however you can invest as soon as reasonably possible if all your debt is paid off and you have already built an emergency fund that will provide you with a minimum of 3 months income if you lose your job, then go right ahead and invest immediately whether you are 20, 30 or even 50 years old.
Why should you invest? Investing is an act of committing your savings to an endeavour, with the objective of increasing your wealth and earning additional income or profit. With every milestone in your life, you make sure your family's dreams and necessities are fulfilled, you are able to plan and take vacations, get married, go abroad to study, attend to unforeseen events, etc. Hence, we need to plan and invest our savings which will depend on what are your financial goals are. These investments will help you accomplish those goals and help you attain your financial independence by putting your money to work.