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Amritaa Sekhon | Financial Fundamentals

As a Financial Advisor I believe there are seven financial pillars that are fundamental to your financial planning, future wealth creation, and wealth preservation.u00a0-Amritaa Sekhon

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Amritaa Sekhon | Financial Fundamentals

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  1. FINANCIAL FUNDAMENTALS Amritaa Sekhon

  2. FINANCIAL ADVISOR AsaFinancialAdvisorI believethereareseven financialpillarswhichare fundamentaltoyour financialplanning, future wealthcreationandwealth preservation. 

  3. Income:This provides you with your day-to-day funds and is derived from your employment. Savings: This is designed to provide for your short and medium terms needs. Investment: This is fundamental long-term wealth creator. PILLARSCANBE IDENTIFIED AS FOLLOWS:

  4. Property: This could be your home and or investment properties. Pension: This is your provision for your retirement. Inheritance: This is typically derived from your family. Protection: This is a key part of any plan for your wealth creation and management. INVESTMENT

  5. INCOME STARTOFFBYLOOKINGATINCOMEASTHEFIRSTPILLAR. INCOMEIS AFUNDAMENTALBUILDINGBLOCKINALLOFYOURFINANCIAL DEVELOPMENTANDITISAKEYDRIVERFORYOURFUTUREWEALTH. ALLOFTHEOTHERFINANCIALPILLARSAREBUILTFROMINCOME, ANDITISINCOMETHATALLOWSYOUTOLAYTHEFOUNDATIONSFOR THEGROWTHINALLOTHERAREASOFYOURFINANCES. ITISIMPORTANTTHEREFORETOCAREFULLYMANAGEANDPLAN YOURINCOMETOENSURETHATTHEOTHERPILLARSCANBE DEVELOPEDANDPLANNEDTHUSBUILDINGWEALTHFORYOUR FUTURE.

  6. SAVINGSARETYPICALLY CREATEDTHROUGH EFFECTIVEMANAGEMENT OFYOURINCOME. INCOMEPROVIDESYOU WITHAREGULARSOURCE OFFUNDSCOMINGINTO THEHOUSEHOLD. EFFECTIVEMANAGEMENT ANDBUDGETINGOFTHIS INCOMEISDESIGNEDTO PROVIDEYOUWITHAN EXCESSTHATCANBEUSED TOBUILDOTHERPILLARS. SAVINGS

  7. INVESTMENTS Oncethesavingspillarhasbeen setupandisstartingtogrowyou mayfindthatyouhavesufficient fundstocoveryourshortto mediumtermneedsandassuch youcanstartlookingatthelonger terminvestmenthorizon. Investmentisthereforenextpillar thatwecanlooktobuild. When lookingatinvesting, itis importanttodevelopadetailed plantoensurethatitfitsyour needs. Thekeyingredientsinany i l

  8. PROPERTY INVESTMENT USUALLY FOLLOWS WHEN AN INDIVIDUAL HAS LAID DOWN THE FOUNDATIONS OF EFFECTIVE INCOME PLANNING AND SAVINGS. THIS MAY INVOLVE BOTH YOUR HOME AND INVESTMENT PROPERTIES. IT IS IMPORTANT TO IDENTIFY THAT PROPERTY IS A LONG-TERM INVESTMENT AND CARRIES WITH IT HIGHER RISK PARTICULARLY IN THE SHORT TERM. PROPERTY, BY ITS NATURE IS A VERY ILLIQUID ASSET AND SO BY PURCHASING PROPERTY, WHETHER IT IS YOUR HOME OR FOR INVESTMENT INVOLVES PUTTING MONEY AWAY FOR THE LONG- TERM. ONCE THIS MONEY IS INVESTED IT CAN BE VERY HARD TO GET BACK OUT. IN MOST CASES THE ONLY WAY TO GET THE MONEY BACK IS TO SELL THE PROPERTY OR TO RE-MORTGAGE. PROPERTY

  9. Thenextpillarthatwecanidentifyfor developmentispensionorretirement planning. Thisisalong-termplanthat isdesignedtoprotectyouinthe futurewhenyourearningpotentialis diminished. Retirementplanning shouldbeimplementedassoonas possibleandtypicallyshouldstart whenyoufirststartearningan income. Pensionsaredesignedto provideapotofmoneytoallowyou havethecomfortableretirementthat mostpeopledesire. Pensions

  10. INHERITANCE Inheritancecanbeidentifiedasanother financialpillarthatmayariseatsome stageinourfinanciallivesandcanform avaluablepartofouroverallfinancial holdings. Inheritancehowever, isnot availabletoeverybodybecausethere won'talwaysbeaninheritancepassed onfromthepreviousgeneration.

  11. FORMORE VISIT:- HTTPS://TWITTER.COM/SEK HONAMRITAA HTTPS://AMRITAASEKHON. BLOGSPOT.COM/

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