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MONEY MINDED
3 FINANCIAL FREEDOM STEPS | FINANCIAL PLANNING
Introduction:
* Welcome friends!. In this post you are going to gain a great knowledge about financial freedom security planning.
* I ensure that this post will be useful to you for your financial status development. I have explained detailly for your better understandings.
Financial Freedom Planning:
* Financial Freedom is one the basic of financial planning.
* Financial freedom helps you to get free of your financial problems. Financial freedom also helps you to develop your financial status.
3 Financial Freedom Steps:
The Three financial freedom steps of financial planning are,
1. Investment Plan
2. Tax Saving Plan
3. Retirement Plan
STEP-1- INVESTMENT PLAN:
* The first step for financial freedom is INVESTMENT
* Save 15-20% of your monthly and invest in three major investment forms. Three major investment plan are,
⛤ Equity
⛤ Gold
⛤ Real Estate
Equity
Equity means to by the shares of any company.
Gold:
Buy the gold bonds, which reduces the manufacturing and wastage cost.
Real Estate:
Real Estate investment will be successful if the cash flow is in the real estate business.
Example: Rent (cash flow) in houses.
STEP-2- TAX SAVING PLAN:
* The second step for financial freedom is TAX SAVING.
* Tax means the percentage of our amount to be paid for the government. Tax percentage is varying for different countries.
* Tax is applicable for only high earning persons, low earning persons are not needed to pay the tax.
* Tax planning includes the tax deduction schemes like,
⛤ House Loans
⛤ Tax deducted pension schemes
⛤ Tax deducted insurance scheme, investment schemes etc... .
⛤ Tax deduction also varies according to different countries.
STEP-3- RETIREMENT PLAN:
* The Third step for financial freedom is RETIREMENT PLAN.
* Retirement life is the hard life time in finance freedom, because many of us fails to handle the working life income, which make us to struggle in retirement.
* Retirement life Know your income and expense in your retired life and try to save when you are in working life. Enroll yourself in the national pension scheme
* To make your retirement wealthy, create multiple income sources.
* Remember that, your retirement life style can be judged by your working life.
Conclusion:
* All the 3 financial freedom steps will be useful to you. Try to follow all the steps for your financial development. Read all our other post of "MONEY MINDED".
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