Game Plan: The beginning

Every beginning starts with a single step. Before beginning the game plan, we need to set the agenda. This would allow us to remain on our path while we go around all the available investment vehicles etc. We would cover the follwing things:

1. Invest in yourself
   • Get the "game plan" mindset
   • Know your risk tolerance
   • Know your goals
2. Create a Game Plan
   • Get the stock/fund/company fever
   • Get an offense and defense
   • Pick the players
   • Know your team
   • Get to know the players
3. Stay the course
   • How are you doing?
   • Write it up

Along with this, we will deal with these 7 issues. These 7 issues are those which we are always worried about.

• Cash flow planning
• Tax planning
• Retirement planning
• Estate planning
• Insurance
• Special Issues
• Life planning

Cash Flow Planning is about how the money for daily living comes, how it is spent and how much goes for saving. This is the crux of all. If your cash flow is planned, then all can be planned accordingly

Tax Planning, a good CA can very much help in Tax planning helping in legally avoiding giving a huge amount of money to government, which anyway is going in to the politicians/bureacrats pocket.

Retirement Planning is to be done, when you wont have a steady cash flow, so that "Sar uthake jiyen".

Estate Planning is all about writing proper will, so that your property doesnt goes back to the government in case of any conflict.

Insurance is all about hedging your risks. Risks include disability, death etc. Note, I am only mentioning hedging. When you hedge your risk, you should reduce the cost of your hedge. Will write more on this later.

Special Issues like school/college education, child marriage, providing for your parents etc.

Life Planning should be done, because the circumstances like job, location, marital status and all of these keep on changing. Our game plan should be able to adjust to these events.

These all things need to be planned up. Then only we will be able to live our life without any financial worry. So will see you all tomorrow.