Your financial goals

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Your financial goals: Estate planning

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This is the Third course in a series of  7 called ”Your financial goals”

It’s never too early to begin thinking about your legacy or to shape your estate plan. Contrary to what many people think, you don’t need to be a millionaire to have an estate plan. An estate plan is an important part of any ongoing financial planning process.

Your life, your dreams, your legacy

Your legacy transcends money — it also encompasses your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support another cause close to your heart. This might be your favorite charity, your community, or your place of worship, to name a few.

Elements of an estate plan
  • A will lets you specify your wishes, including how you want your property distributed, who will administer your estate and who will care for your minor children.
  • A trust holds your assets for the benefit of one or more people (you, your spouse, your children). You’ll need an attorney’s assistance to create a trust.
  • Life insurance proceeds are paid to a beneficiary at your death.
  • Gifts are transfers of property made during your life to family, friends or charity.
  • Tax exclusions are available as important estate planning tools. Consult your tax professional for details.
Preparing to plan your estate

Designing a legacy consistent with your dreams and values is a personal, often complex process. But it’s well worth the effort. Consider setting up a family estate planning meeting to help improve communication, prevent conflicts and let your family know what’s important to you.

After giving some thought to your wishes, including the needs of family members you want to provide for, seek the professional guidance and estate planning advice you need from your attorney, tax professional and financial advisor. To help you value your estate, you’ll need to take into consideration:

  • Current income and likely future income
  • Annual expenses
  • Current assets and debts
  • Tax implications of federal transfer taxes, state death taxes and federal income taxes

Message for you(Trader/Investor): Google has the answers to most all of your questions, after exploring Google if you still have thoughts or questions my Email is open 24/7. Each week you will receive your Course Materials. You can print it and highlight for your life Goal.

Your financial goals (7 Days – Comprehensive Course)

  1. College education
  2. Business ownership
  3. Investment planning
  4. Estate planning
  5. Insurance
  6. Long-term health care
  7. Charitable giving

This Completes the List of Courses.

Wishing you a wonderful learning experience and the continued desire to grow your knowledge. Education is an essential part of living wisely and the Experiences of life, I hope you make it fun.

Learning how to profit in the Stock Market requires time and unfortunately mistakes which are called losses. Why not be profitable while you are learning?

Your financial goals: Investment planning

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This is the Third course in a series of  7 called ” Your financial goals”

A sound investment strategy is critical to helping your money grow and, ideally, outpace inflation. However, if you’re like many people, you may not have the time or the inclination to analyze how different investments or securities may fit into your portfolio and you may wonder whether you’re investing appropriately to meet your financial goals.

Clarify your investment goals

Before you invest your money, it’s important to identify and prioritize your financial goals, assess your risk tolerance and understand your investment options. A financial advisor can help you sort through your options and invest appropriately. Some questions to consider:

  • What needs and dreams are you saving for? Retirement, a home, education?
  • When will you need the money you plan to invest now?
  • What is your risk tolerance? Are you willing to invest in stocks that may rise and fall in value in the short term, but have the potential to deliver larger returns in the long run? Or would you feel better if your money was invested more conservatively?
  • Do you understand how different investment vehicles (stocks, bonds, mutual funds, real estate, etc.) work? And the potential tax advantages of each?
Develop an investment strategy

Working with a financial advisor can help you:

  • Assess your financial situation. Create a clear picture of your current financial situation, including analyzing your investment timeframe and your risk tolerance.
  • Understand investing options, such as investment types and accounts, to help you make decisions that are right for you.
  • Apply diversification. Invest in a variety of assets to distribute and reduce risk.
  • Allocate your funds. Spread your investments among different asset categories, including stocks, bonds, cash and real estate, a process known as asset allocation. This also helps dilute risk.
  • Monitor your progress. Revisit and re-allocate your portfolio regularly to make sure your investments are still aligned with your current needs and future goals.
  • Consider tax implications. Be aware of tax advantages as well as tax consequences so you can avoid paying unnecessary fees.

Message for you(Trader/Investor): Google has the answers to most all of your questions, after exploring Google if you still have thoughts or questions my Email is open 24/7. Each week you will receive your Course Materials. You can print it and highlight for your life Goal.

Your financial goals ( 7 Days – Comprehensive Course)

  1. College education
  2. Business ownership
  3. Investment planning
  4. Estate planning
  5. Insurance
  6. Long-term health care
  7. Charitable giving

This Completes the List of Courses.

Wishing you a wonderful learning experience and the continued desire to grow your knowledge. Education is an essential part of living wisely and the Experiences of life, I hope you make it fun.

Learning how to profit in the Stock Market requires time and unfortunately mistakes which are called losses. Why not be profitable while you are learning?

Owning a business

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This is the Second course in a series of  7 called ” Your financial goals”

Owning your own business is an Indian dream for many. But managing your own business takes a lot more than hard work. You need a financial plan — one that addresses financial needs and products for every stage of your business life cycle and  that takes into account your personal financial goals and dreams.

Tax strategies

As your goals and financial situation change over time, so will the strategies for managing your taxable income. A financial advisor can help you keep your financial plan aligned with your current needs.

Retirement plans and employee benefits

Offering competitive benefits are often the key to attracting and retaining good employees. As a business owner, you’ll want to develop a benefits strategy that fits your and your employees’ needs. This may include workplace financial planning.

Business valuation

A financial advisor can help you assess the value of your business and integrate that information with your personal financial situation. This will give you the comprehensive view you need to plan for a successful future.

Business succession planning

Someday you may want to sell your business or pass it on to a family member, employee or another organization. We can help you develop a detailed succession plan that meets your business and personal needs.

Business insurance and protection

We can help you develop an insurance and protection plan in the event of a disruption, such as the departure or disability of an owner or key employee.


Message for you(Trader/Investor): Google has the answers to most all of your questions, after exploring Google if you still have thoughts or questions my Email is open 24/7. Each week you will receive your Course Materials. You can print it and highlight for your life Goal.

 

Your financial goals ( 7 Days – Comprehensive Course)

  1. College education India
  2. Business ownership
  3. Investment planning
  4. Estate planning
  5. Insurance
  6. Long-term health care
  7. Charitable giving

This Completes the List of Courses.

Wishing you a wonderful learning experience and the continued desire to grow your knowledge. Education is an essential part of living wisely and the Experiences of life, I hope you make it fun.

Learning how to profit in the Stock Market requires time and unfortunately mistakes which are called losses. Why not be profitable while you are learning?

Your financial goals: College education

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This is the first course in a series of  7 called “Your financial goals“

Saving for education

Are you planning to help your children or grandchildren with their education expenses? Or thinking of taking classes yourself? There are many options to help you achieve this goal.

Determine your education needs

You can begin to create a college savings plan by defining your education needs and preferences:

  • Would you prefer a private or a public school?
  • What will it cost? How much is too much? Make sure you take college inflation rates into account.
  • How long will it take, or how long do you have, to save?

The cost of college education

College costs increase at about twice the rate of inflation, from 5% to 8% per year. And these costs are already steep. According to google.com search over the India, the average tuition and fees for 2011 – 2012 for students are:

Type of college or university

Cost per year**

Two-year public college in stateRs. 1,50,000
Four-year public college/university in stateRs. 4,00,000
Four-year public college/university out of stateRs. 8,00,000 or more
Four-year private college/universityRs. 15,00,000

**In addition, you may have to pay for room and board. In 2011 – 2012, average room and board costs for a public four-year college or university full time is Rs. 4,44,350

Several other factors may also affect the cost of an education:

  • Student’s age
  • Academic record
  • Financial aid opportunities
  • Scholarships available
  • Degree goal
  • Housing costs (on- or off-campus)
  • Military service

Common college saving plan options

  • Accounts  allow you to make an irrevocable gift to a minor to an account that your child ultimately controls when he or she turns 18 or 21 (depending on state law). He or she will be able to use the funds for education and other expenses.
  • College savings plans are generally sponsored by states, state agencies or educational institutions for college tuition and expenses. These investment plans stay under your control and offer certain tax and contribution advantages.
  • Education Savings Account (ESA)  You can contribute to this investment account until children turn 18 unless the child is a special needs beneficiary. This type of account can be used for elementary, secondary and college expenses and tuition. It includes tax benefits but has a maximum contribution limit of (Find as per you state rules) per year.
  • Traditional/Roth IRAs. Penalty-free distributions are allowed from IRAs for eligible educational expenses for you, your children and your grandchildren. (Income taxes may apply to IRA and Roth IRA withdrawals). IRAs are not counted as assets for financial aid calculations, but withdrawals are considered financial aid income for parents.
  • Other options. In addition to savings, current income and borrowing, there are other ways to finance higher education:
    • Financial aid from federal and state governments
    • Work-study programs or a part-time job for the student
    • Loans from private, federal and college sources
    • Scholarships and grants from different sources
    • Family gifts

Borrowing from your retirement account to pay for education expenses

Borrowing from your home equity or retirement account — or reducing your retirement savings contributions to help pay for college — is an option. However, doing so could mean you’ll need to work longer than you planned before retiring. Encouraging your child to take out a loan for college, such as a Stafford loan, may mean that he or she will graduate with some debt. But remember that he or she will also have a much longer period of time to pay off the loan.

 

Other financial considerations for a college savings plan

As you explore college financing options and determine which program, or combination of programs, will best meet your needs, you may wish to talk to a financial advisor to guide you through the finer points such as:

  • How does saving for education fit into your financial life? How can you resolve competing needs to save for retirement and a child’s education?
  • What calculations are used by institutions in determining financial need?
  • How will a college savings plan affect your taxes, financial aid eligibility and tax credits?
  • What investment options do you have based on your risk tolerance and when the funds will be needed?
  • Which currently held funds are accessible and what are the penalties for early withdrawal?

(Note: As Per Indian, you search in google to get perfect plan while you are studying)

Message for you(Trader/Investor): Google has the answers to most all of your questions, after exploring Google if you still have thoughts or questions my Email is open 24/7. Each week you will receive your Course Materials. You can print it and highlight for your life Goal.

Your financial goals (7 Days – Comprehensive Course)

  1. College education
  2. Business ownership
  3. Investment planning
  4. Estate planning
  5. Insurance
  6. Long-term health care
  7. Charitable giving

This Completes the List of Courses.

Wishing you a wonderful learning experience and the continued desire to grow your knowledge. Education is an essential part of living wisely and the Experiences of life, I hope you make it fun.

Learning how to profit in the Stock Market requires time and unfortunately mistakes which are called losses. Why not be profitable while you are learning?

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