Financial Fix Why Early Financial Planning Is Important

(MENAFN- Kashmir Observer)
Representational Photo

By Irshad Mushtaq

Early financial planning is crucial for a secure future, don't fall into the trap of emotional trading or investing in wrong assets. Consult a financial professional for sound advice.

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Financial planning is a crucial aspect of life that should not be overlooked, especially at a young age. The importance of financial planning becomes even more evident when we look back at missed opportunities and regrets that come with lack of planning.

Imagine if someone had invested just 1 lakh rupees in the early 1990s, that investment could now be worth 1.5 to 2 crores or even more. Instead, that money may have been spent on unnecessary expenses like repairs, renovations, or other frivolous purchases. While these expenses are necessary, they should not come at the cost of neglecting investments that could have yielded significant returns over time.

Historically, real estate has been a popular investment option with land prices in certain areas skyrocketing over the years. However, in today's digital age, investing in quality shares, ETFs, and mutual funds can offer equally impressive returns. But navigating the complex world of investing requires the guidance of a trusted advisor who can provide education, discipline, and sound investment strategies.

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A professional advisor can help individuals beat the overall market returns, devise additional income strategies, and avoid common pitfalls like overtrading or emotional investing. Their expertise and hands-on support can make a significant difference in maximizing profits and ensuring long-term financial stability.

In the world of stock market trading, where 95% of people lose money in futures and options trading and 90% of retailers lose money overall, having a knowledgeable advisor by your side can be a game-changer. They can provide guidance, assistance, portfolio reviews, and instant resolution of queries, ultimately helping you focus on earning big rather than worrying about saving pennies on brokerage fees.

In conclusion, the value of financial planning cannot be overstated. It is essential to start early, seek professional help, and stay disciplined in your investment approach to avoid regrets later in life. By working with a trusted advisor and making informed decisions, you can secure your financial future and achieve your goals with confidence.

Learn from the insights of writer and investor, founder of MI Securities and Business Partner at Sharekhan! Reach out to him at [email protected] for valuable knowledge on financial matters

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