Regarding the Financial Planning, there are many myths in the minds of the common investor public. I’m trying to discuss some of these here. This is the Second Article in this series.
Myth no. 2:-
To start my financial planning, I need a large corpus from which I ‘ll invest here & there & thus I ‘ll be able to do my financial planning.
Again the truth is on opposite side. You do not need to wait for a one big sum to start your financial planning. Life is all about taking small steps. How? when you were a kid, did you started writing full sentences from day one of your school? No. You were first familiarized with the alphabets. Then the work started on writing the alphabets. then some plain simple words & slowly, you were shifted to write down sentences & later on for full paragraphs. It took a lot of time. At least 4-5 years of your Pre & Primary schooling to reach from identifying alphabets to writing paragraphs.
Same is the case with Financial Planning. One needs to start small. Start simple. But the most important thing here is START. START now. As the tagline of NIKE says
‘JUST DO IT’
So no matter, where are you standing in your life, start taking simple & small steps towards a worry free financial life.
So what’s your take on this article? Can you face your own Myth for ‘Need of Big Corpus to Start’ now?