Do You Have a Plan for Your Financial Future? You Need a Constitution of Investing
Ben Franklin famously said, “If you fail to plan, you are planning to fail.” Unfortunately, recent research, quoted in an article on Business Standard, reveals that 7 out of 10 Indians do not save for retirement and expect their children to support them through their retirement years. This, despite almost every Indian having watched the movie Baghbaan!
Do We Need to Plan for the Future?
While we might have very loving and responsible children, who would love to take care of their aging parents, being financially dependent is one of the worst feelings for most people. The Economic Times also quoted a recent survey that revealed that while 45% Indians prefer to spend their money on enjoying their present, while 56% live on a day to day basis, in financial terms. There is no thought about saving for a time when there is no regular income.
The survey also revealed that 64% Indians are concerned about the sky-rocketing healthcare costs in the country. And yet, we fail to plan financially for emergencies. Isn’t it time we had a comprehensive guide that showed us why and how we can plan our financial future?
If we want a good standard of living for our family, the best education for our children and access to the right healthcare as we age and our health starts to fail, we need to plan for it today. It is never too early to start planning for your financial future because the longer you give your money to grow, the bigger will be the corpus you build.
Having listened to the worries of the common Indian, such as the rising cost of education and medical care, as well as sudden illnesses and accidents that prevent one from working, Reliance Mutual Fund realized that what our country needs is a good resource that provides the right information and guidance for people to make wise financial decisions. This will pave the way for a stress-free, comfortable life. For this, Reliance Mutual Fund has launched an initiative, called the Constitution of Investing.
The Definitive Guide to Financial Planning
Financial planning and investing for the future are still fairly new concepts in India. A large part of even the urban population has misconceptions and misinformation about planning for their financial future, which is why they make mistakes in choosing investment instruments. This is where the Constitution of Investing can offer invaluable help. The constitution is essentially a guide to investing for the common Indian. It not only offers insight into the various options available in India for profitable investing, it also guides people regarding the basics of financial planning and investment.
Reliance Mutual Fund is reaching out to the Indian public to help create this comprehensive guide. The inputs for the guide will be from Indians who have experience in and knowledge of investing. When real people share their experiences, they give others a great way to learn. For this, the company has started the ConstitutionofInvesting campaign on popular social media platforms, such as Facebook and LinkedIn.
Through its social media campaign, Reliance Mutual Fund is engaging with Indians all across the nation to provide suggestions, experiences, information and tips to guide those who wish to achieve financial stability. All inputs that come in via this social media outreach will be reviewed by a team of experts and the most useful suggestions will be shortlisted. People whose suggestions get included in the Constitution of Investing will receive a special mention for their contribution.
The time to help Indians gain financial stability is NOW. So, go ahead and share your experiences, learnings, tips and more to help build a comprehensive guide. Every input can help someone make an informed investment decision.
