Assume all the eleven players in football are excitedly ready to play the game, all charged up, and then someone takes the goal post away. What would happen to the game? There is nothing left. How will they keep the score?
Enthusiasm without direction is like wildfire and leads to annoyance. Goals give a sense of direction. Without knowing where you are travelling would you sit in a train or a plane? The clear answer is no. Then how can people live their life without any goals?
Below are some important life goals you can fulfil financially:
Once you start earning, you look for ways to save money to secure your future. After evaluating your future needs, you plan your life goals and work towards attaining them. Goals are different for every individual, but most of them are aimed at securing yourself and your family against unexpected situations. It is thus very significant to invest in different avenues that fulfil your various life goals.
Securing your family in the absence of the bread-winner:
Usually, in nuclear families, there is only a single breadwinner. The entire family is financially dependent on the bread winner. If something happens to the breadwinner, then the whole family’s well-being goes for a toss. For such people, securing their family’s future becomes crucial.
A term plan is a good option which gives the dependent of the policyholder a sum assured in case of his unfortunate demise during the policy tenure. The sum assured can be utilised to meet monthly expenditure, children’s education or marriage and others. The premium for term insurance is quite low and the policy can be taken for a longer duration up to the age of retirement.
Everybody likes to see their money grow once they start earning. It is important that along with a good insurance policy, you invest in products that provide high returns and multiply your money. A Unit Linked Insurance Plan (ULIP) can be a good option as it helps in maintaining a disciplined approach towards investing.
Another important goal that you should set and work towards fulfilling is securing your child’s future. With education cost rising, it is important that you take a child plan. Edelweiss Tokio Life-Wealth Plus comes with a Rising Star benefit which not only secures your child’s future but also helps in financing important events like higher education, marriage etc.
Therefore, it is vital to make efficient investments to fulfil various life goals.