Goals are important for the growth of every individual. While most of us set goals for our education, career, health, and any new thing we would like to learn. However, few of us set financial goals, which will help us have a stress-free life and has the potential to lead to a stress-free retirement.
Financial goals can be short-term or long-term. Short-term goals include saving up for buying a car, or for a holiday. Long-term goals are those goals that may take more than 10 years to accomplish. They include saving up for a child’s marriage, planning retirement, or funding a retirement business idea.
Whatever the goal duration, planning is essential. We reiterate here that saving in the capital markets can be the most effective way to plan your financial goals, whether for the short-term or the long-term. For short-term goals, you can look at assets that are less risky and give good returns over a small timeframe. Bonds and debt funds are some of your best bets. If you want to invest for the long term, the equities market will be the one you must go for. Stocks may have short-term volatility but give amazing returns over a larger period.
These are the basic concepts of financial planning and investing. Where you will need help is in picking the right assets that will help you reach your financial goals. Savart can help you, and we will tell you how at the end of this article.
First, here are five steps for you to follow while planning your financial goals
These are some uncomplicated ways for you to plan for your financial goals. They will help you get started on your journey to achieve those goals.
Now, Savart can help you plan your investments and start saving for your financial goals. Our app allows you to add up to three financial goals, and it will also give you a monthly investment amount based on your goal’s target amount and duration. You will also get a customized portfolio advised to you that aligns with your lifestyle and helps you achieve your financial goals.
To get such customized investment advice delivered to you, reach out to Savart today! You can also download our app from the Google Play Store or the Apple App Store. For a detailed explanation of how to use our app, watch the walkthrough video here.
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