If there is one reason why some individuals are more successful with their finances it’s because they are acting on the right financial planning tips. And the best financial planning tip out there is – start early before it gets too late.
When it comes to doling out financial planning tips, there is no one bigger than Warren Buffet – the highly regarded investor guru.
When asked in a TV show about ‘the biggest mistake we make when it comes to money’, this is what Warren Buffet had to say:
“Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.”
When it comes to saving there cannot be a bigger mistake than postponing investing. Individuals often underestimate the importance of time in amassing wealth. They assume wrongly that they can always make up for lost time in the future.
So if you are looking for financial planning tips, look no further than these three ideas.
As you can see, when it comes to saving and investing, you must start as early as possible. Delaying your plan even by a year could end up costing you a large chunk later on. Along with your investments, you also need to safeguard your finances and your family’s future. Today, every balanced investment portfolio also contains life and health insurance policies. While life insurance plans can help you grow your money, health policies will take care of your finances in a medical emergency. By saving and investing right from the time you start earning, you can build a financially secure future for yourself and your loved ones.
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