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An individual must plan and keep aside some amount of money for any unavoidable circumstance which might arise in future. An investment can be treated as an asset for future. As Future is uncertain, one should wisely plan their investment to avoid any future crisis. The main objectives of investment are - safety, growth and income. You can have options of fixed income investment such as bonds, fixed deposit and shares (stocks); Variable income investment such as property ownership and business ownership. If you (individual or organization) are planning for any kind of investment, consider the following key points: • Financial advisory • Financial planning • Financial management Financial advisory: Before you step into investment, consulting a good financial advisor is essential. Taking decisions based on advices given by finance advisor, will impact your long term investment. Financial advisors are Registered Investment Advisors (RIAs) or Investment Advisor Representatives (IARs). Be objective while selecting advisors. Choose four advisors, go through their working reviews and then select one. Meet personally so that you can decide whether to proceed with the same or not. Financial advisors will discuss about financial options, investment strategies with their clients. Before providing any suggestions, advisors will process financial information about their clients based on which they find out financial status and gives advices. They involve in researching information from various sources, including providers of financial products. Financial planning: is a solution which converts your goals into action plans and provides the direction and discipline to achieve these goals. Building financial plan can help you achieve goals like worry free retirement; give your child best education, purchase a new house or car. Financial planner involves in gathering clients financial goals, analyzing and evaluating their financial status, developing financial plan, implementing and monitoring the plan. Financial management: Refers to management of the finances of a business or organization in order to achieve financial objectives. It ensures secure financial investment, regular and adequate supply of funds to the client. One can face financial problems in circumstances such as high inflations, economic uncertainties, market crashes at the time of retirement. So, planning for a wise investment can help you in worry free retirement. Plan your retirement before hand: Retirement planning means employing financial strategies during working years to ensure a secure future. You can plan in two ways: an individual can voluntarily deduct a certain portion of his or her salary; on the other hand one can have benefits upon retirement. Financial planning on retirement helps to ensure sustenance life, healthcare, travel etc. Consult a famous advisor: Retirement advisor will go through your financial status and look into your other financial sources such as pension, social security, part time work. They give advice on what amount of retirement income you could reasonably expect to have, What types of taxable income your investments will generate, Whether you should keep your life insurance policies or not. If you are looking for investment or any information related to its works, visit Retirement financial income planner
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