Financial planning is the key to peace and happiness. None knew it better than Walt Disney when he drove home the point in two of his classical animated masterpieces – The Grasshopper and the Ant and The Three Little Pigs. The grasshopper idled all through summer while the ants worked hard storing for the future. When winter came the ants were comfortable in their home eating and feasting from their savings while the grasshopper would have died if the ants had not taken mercy on them. In the story of the pigs two of the pigs were lazy and built houses of straw and stick while Practical Pig worked and saved.
When the Big Bad Wolf came the other two would have been swallowed up by the wolf if Practical Pig did not save them in his strong house. These are not just fables but over and over again the lesson is being taught – the lesson of careful budgeting and financing. If not – a calamity is inevitable. We have to live quality lives and not just eke out a hand to mouth existence not thinking about tomorrow.
It will be wrong to think that financial planning is only about tomorrow. It means living wisely today so that we can maintain the same standard tomorrow even if the weather frowns. This means chalking out properly a schedule for spending and saving. The spending will have to be listed according to priorities – basic necessities, housing, food, education and then money for relaxation. The saving will have to take into account two things – savings into which one can dip in for emergencies and long term investments that will bring in steady returns. One has to be careful about not being too greedy in investment expectations because there are people who give false promises. It is best to remember that all that glitters is not gold.
Then there is the all important issue of taxes. The authorities have to be satisfied and everything has to be above board and timely. Another important point is thinking not only about your future but the future of your descendents. This means inheritance matters. You might also be inheriting from parents and grandparents and that too needs detailed looking into.
It all sounds too complicated? Without beating about the bush the truth is that it is complex. And for this professional help is the best help. In the Internet Age this is no problem. All you have to do is sit in your own private niche comfortably while you click on the mouse and hone in for inheritance tax planning, investment advice, pensions advisory service, retirement planning advice, annuity advice, financial adviser London and the like. Even after getting proper advice you can weigh the pros and cons and then take the decision. For each individual, like each country, the financial specifics are distinct. And as such there is no one silver bullet for all. Professionals know this and they will be your best friend, guide and philosopher in financial matters.