Secrets of Financial Literacy !!!

 We've all heard the phrase "Financial Freedom" tossed around a lot. But what does it really mean? The truth is, it means different things to different people. Some might define it as having enough money to do whatever they want, while others might view it as having enough money to never worry about money again.  Regardless of your definition, one thing is certain; being debt free is the first step toward achieving financial freedom. Debt is one of those things that can take a toll on your life in more ways than one. Not only does it take away from your financial freedom, but it can also cause a lot of stress and anxiety. It's also a major source of financial insecurity, as having too much debt can prevent you from making important life decisions, such as buying a house or starting a business.  So, if you want to achieve financial freedom, the first step is to get out of debt. Here's how you can do that:  1. Make a budget. This is one of the best ways to get out o...

 We in our busy lives, maybe running for personal growth, may ignore or lose the most important asset "Time".  Delegation of work, what I learned recently, "Delegation" will that bring the same quality of work as we do, may not, but definitely, you can get this great asset called "Time". In my recent interaction with my industry friends, One told me that if we delegate we are simply adding "Time" in our lives, I felt wonderful. There's a saying "Time is Money" but realized we need to buy the "Time" also..., 

 In this beautiful journey, I made more than 300 clients now, with  Assets Under Management of 25crores (21Cr in MF + 4 Cr in PMS) and a SIP Book of 23lakhs, of course, term, health, and FD are also there in the product basket. From on-boarding, new KYC(video) to transactions 95% of my clients are online and through my website itself. I got clients in abroad, and in other cities across India, most of them were referrals, and almost 50% of clients I never met. Now monthly I'm able to get a minimum of 5 new clients and a new SIP Book of 50k min. Every experience is new learning, and our learning must never stop, either in reading or upgrading ourselves in using the technology. Till now all alone, Now planning to add a team slowly to take it to next level. Last year our firm is been changed to Gro Prime Wealth Pvt Ltd.  Being an Engineer and MBA Graduate never thought destiny was MFD, Life is full of surprises, Post my Engineering in 2010, unexpectedly joined ICICI Bank as a...

       An object  either remains at rest or continues to move at a constant speed , unless acted upon by an external force. Newton's 1st law of motion. What does Comfort Zone today means ?      Are we stuck in a comfort zone ? I'm 32 working for an MNC, Monthly 5 digit Salary, 4 digit EMI's, daily 8-9hrs of office work, weekend good time with family, movies, fun and peace, what else.      Re-Thinking again and again for quite a long time,  I realised may be the above part is not a comfort zone it's a monotonous or same routine following, unknowingly stuck in a continuous routine by some external force.      How about planning our day by ourselves completely whether to work today or not, spend time with family, give a try for new skills like cooking, dancing, or just exploring yourself, doing whenever, whatever you want, that's what I feel like the real comfort zone.  

Do you think that one can expertise in all the fields today, may or may not, but we have seen people multi-talented, I really feel great for them, infact, I admire them. There are few great lines which I read in a book, One can expertise in any field if he/she spends 10000hrs into that. So in today's busy schedules its very difficult to get that much of time. What's the solution then ??? Find the one who is expert in that particular field, so be in touch and build a rapport, so your job is done. It helps us build physical network rather than an social network. Much needed today.  

The most important thing today is people are been forced to take credit cards, personal loans, and consumer loans etc..,  These in-fact increase your financial debts nothing else, the first and foremost principle is to be debt free. Make sure any thing you are planning to buy (home, car, or any gadget) is an asset or liability, want or need. This small thinking will create a huge impact on our financial planning.

Do some one really need to invest in SIPs. Is it the correct way ??? The answer is YES, why because though one has an abundant knowledge on how stocks, Mutual funds work, he can't always time the market and when we try to time the market it always go beyond our assumptions, so the SIP is the one which helps in adding discipline to our investments.