January 20, 2025
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Imagine sailing a boat without a destination in mind or a compass. Would you feel lost or unsure of where to turn or when to stop? Without a guide and proper direction, you would eventually end up nowhere, sailing endlessly for days. Your financial journey is not very different. Your financial journey benefits from having a clear destination which is where goal-based investing comes into play. In this blog we will discuss how goal-based investing can help you in various ways.
Goals are tied to your personal circumstances and lifestyle. Defining goals can help you outline what you aspire for and what you can do about them in financial terms.
To illustrate, letās say you want your child to graduate from one of the top colleges in India. This goal can be defined properly by quantifying it ā my child will need 30 lakhs in 10 years to attend one of the top colleges in India. Now that you have given a timeline and value to the goal, you can estimate what you need to do about it. For instance, assuming 10% ROI for 10 years, you will need to put in at least 1.88 lakhs per annum for 10 years to achieve this goal successfully. Hence, goal setting helps structure your goals and helps you plan what you can do ahead to increase the chances of your child graduating from one of the top colleges in India. It aligns your investment strategy for your childās education with your desired lifestyle, ensuring a smoother journey towards financial success.
In conclusion, goal-based investing offers a structured path toward your financial aspirations. It aligns your investments with specific goals, enhances discipline, and positions you as a wiser investor. So, as you embark on your financial journey, ask yourself: Are your goals crystal clear, and is your investment strategy tailored to achieve them? Remember, clarity in goals today ensures financial success tomorrow.
If you have a question, share it in the comments below or DM us or call us ā +91 9051052222. Weāll be happy to answer it.
~ Nischay Avichal
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