Where is my Money?

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Everyone in their life they want to save their money and enjoy at the time of their retirement. But most of them failed because they failed to plan and park the money in right place.

Let us first discuss what a common man do, then we will discuss where they fail.

After finishing their college they go to job and start earning money. Let us assume an ordinary person get an initial salary of 15K per month at the age of 24 years. He/she believe the money they are earning is less and start spending almost all the money and wait for next increment OR opportunity which gives them additional money.

Even after their increment, their needs will start doubling or forced to spend extra which is unavoidable. This way he/she might reach the age of 26. By the time they start thinking about saving, there will be a marriage proposal.

Now, the same person will start saving for marriage or he/she will get personal loan to do their marriage (talking about a common person). To close the loan they will end up another 2-3 years (30 years). After successfully closing their personal loan. That time they will have a baby.

Now the next responsibility to start focusing on taking care of Kid, wife, family and their medical expenses and other commitment.

It doesn’t mean that the above common person do not save anything. He/she do, but it will be very minimal and it wont be sufficient.

Now, when they turn back they might have reached the age of 35 which half of their life gone. When they start planning for saving that time big expenses start such as their Kid education fee and house rent.

Finally they end up start doing saving due to their TAX slab as per their salary.

Conclusion: The above person failed 80% only because of not planning their saving at right time and investing in right place.

Then how to save the money ? click here.

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