Many of us like to spend money on New Year Parties, Birthday Celebrations etc. Though it is not a bad one, what we all are ignoring is “Inflation”. As years passby inflation increases and it still continues even after your income stops(During Retirement)
What we have to remember is – As we are welcoming new year we have lost 1 year of your valuable time and we are getting closer (in terms of “Time”) reaching your financial goals. Instead What we have to remind is instead of celebrating birthday party, new year parties you should focus on your goals.
The “Real Celebration” lies in achieving your financial goals not of temporary enjoyments. If you utilise your time in focusing on your goals, oneday you would definitely succeed in life. For that you have to increase your investment amount as you grows older.
One of the automated way to increase your investment amount is – Doing “Step-Up Sip”. By giving a simple instruction to your fund house(indeed Bank too)to debit specified amount year on year you would reach your financial goals faster. It would happen “Automatically” if you decided to increase your investment year on year.
Never neglect “Time” as “Time is Money”; if you wasted Time and Money in the past realise even now. There is a saying- “The Best Time To Plant a Tree Was 20 Years ago and The Next Best Time is Now”. Don’t waste time on regretting not to invest all these days the moment you realise to invest is the Best Time To Start Investing.
Eventhough a delayed start can derail your goals, the moment you realised the need to invest for your future would do magic if you continue yor investment journey for long term. In this long journey do remember to increase your investment amount as years passby and then only you can achieve your future dreams.